超過預期的2月核心PCE價格指數可能使比特幣（BTC）的看漲軌跡脫軌

根據經驗豐富的加密分析師阿里·馬丁內斯（Ali Martinez）最近的X帖子，比預期的2月核心個人消費支出（PCE）價格指數更熱，可能會使比特幣（BTC）的看漲軌跡脫軌。

Hotter than anticipated February Core Personal Consumption Expenditure (PCE) Price Index could derail Bitcoin's (BTC) bullish trajectory, according to seasoned crypto analyst Ali Martinez.

經驗豐富的加密分析師阿里·馬丁內斯（Ali Martinez）表示，比預期的2月核心個人消費支出（PCE）價格指數可能會使比特幣（BTC）的看漲軌跡脫軌。

In a recent X post, Martinez said that persistent inflation may force the US Federal Reserve (Fed) to delay interest rate cuts, which may be bearish for risk-on assets.

馬丁內斯（Martinez）在最近的X帖子中說，持續的通貨膨脹可能會迫使美國美聯儲（美聯儲）推遲降低利率，這可能是風險耗資資產的看跌。

The US February Core PCE Price Index rose 0.4% on a month-over-month (MoM) basis, beating projections of 0.3%, Core PCE Price Index

美國二月核心PCE價格指數每月（MOM）上漲0.4％，超過0.3％的預測，核心PCE價格指數

The US February Core PCE Price Index rose 0.4% on a month-over-month (MoM) basis, beating projections of 0.3%. Similarly, on a year-over-year (YoY) basis, the inflation measure surged 2.8%, eclipsing the 2.7% estimate.

美國2月核心PCE價格指數每月（MOM）上漲0.4％，超過0.3％的預測。同樣，在同比的基礎上，通貨膨脹量量飆升了2.8％，黯然失色2.7％的估計值。

For the uninitiated, the Fed relies on the PCE Price Index as a key inflation measure to assess price changes in consumer goods and services. Unlike the Consumer Price Index (CPI), the PCE accounts for any change in consumer behaviour patterns.

對於初學者，美聯儲依靠PCE價格指數作為關鍵通貨膨脹量度來評估消費品和服務的價格變化。與消費者價格指數（CPI）不同，PCE解釋了消費者行為模式的任何變化。

The PCE comprises two versions, Headline PCE and Core PCE. While the Headline PCE includes all goods and services – along with food and energy – Core PCE excludes food and energy to give the Fed a more stable measure of inflation trends.

PCE包含兩個版本：標題PCE和Core PCE。儘管頭條新聞包括所有商品和服務以及食品和能源，但核心PCE不包括食物和能源，使美聯儲更穩定地衡量通貨膨脹趨勢。

A higher than expected Core PCE Price Index is bearish for risk-on assets – including cryptocurrencies – as it suggests that inflation may not have completely subsided yet. As a result, the central bank may delay interest rate cuts, which could cause further pullback in BTC and other digital assets.

高於預期的核心PCE價格指數對包括加密貨幣在內的風險資產（包括加密貨幣）是看跌，因為這表明通貨膨脹可能還沒有完全消退。結果，中央銀行可能會推遲降低利率，這可能會導致BTC和其他數字資產的進一步回調。

Meanwhile, fellow crypto analyst Michael van de Poppe noted that although the trend still appears to be upwards for BTC, it is starting to appear shaky. The analyst added:

同時，加密分析師邁克爾·範·德·波普（Michael van de Poppe）指出，儘管BTC的趨勢似乎仍然是上升的，但它似乎開始搖搖欲墜。分析師補充說：

Drop sub $84K and I think we’ll see a test at $78-80K and perhaps lower before we’ll bounce back up.

下跌$ 84K，我想我們會以$ 78-80k的價格看到測試，也許在我們反彈之前降低。

Similarly, crypto analyst Rekt Capital noted that Bitcoin is once again testing its daily Relative Strength Index (RSI) downtrend. A failure to rebound from the trendline may lead to significant price decline for BTC, possibly pushing it down to the mid-$70,000 level.

同樣，加密分析師Rekt Capital指出，比特幣再次測試其每日相對強度指數（RSI）下降趨勢。從趨勢線中反彈的未反彈可能會導致BTC的價格大幅下降，可能會將其降低到70,000美元的水平。

Can Bitcoin Survive The Downtrend?

比特幣可以在下降趨勢中生存嗎？

Following the February Core PCE Price Index data release, BTC is down 1.4% in the past 24 hours. That said, on-chain metrics and positive macroeconomic developments point toward a potential price recovery for the largest cryptocurrency by reported market cap.

在2月核心PCE價格指數數據發布之後，過去24小時內BTC下降了1.4％。也就是說，鍊鍊指標和積極的宏觀經濟發展表明，按報告的市值，最大的加密貨幣的潛在價格恢復。

For instance, the Bitcoin supply ratio on crypto exchanges recently fell to a fresh seven-year low, reinforcing the digital asset's supply scarcity narrative which may lead to a rally. Data from Santiment suggests that the BTC supply ratio on exchanges has declined to 7.53%.

例如，加密交易所的比特幣供應率最近降至新鮮的七年低點，從而加強了數字資產的供應稀缺敘事，這可能導致集會。 Santiment的數據表明，交易所的BTC供應比下降到7.53％。

In addition, BTC selling pressure arising from whale wallets has finally come to a halt.

此外，鯨魚錢包引起的BTC銷售壓力終於停止了。

At press time, BTC trades at $85,475, down 1.4% in the past 24 hours.

發稿時，BTC的交易價格為85,475美元，在過去24小時內下跌1.4％。