美國通貨膨脹數據將樂觀注入比特幣和更廣泛的加密貨幣市場

一月份，個人消費支出（PCE）通貨膨脹（美聯儲的首選措施）恰好符合預期，至2.5％。

US inflation data has injected renewed optimism into the Bitcoin and broader cryptocurrency markets. In January, the Personal Consumption Expenditures (PCE) inflation—the Federal Reserve’s preferred measure—fell to 2.5%, precisely in line with expectations. Core PCE inflation was reported at 2.6%, also matching forecasts, marking the first decline in PCE inflation since September 2024.

美國通貨膨脹數據已向比特幣和更廣泛的加密貨幣市場注入了新的樂觀情緒。一月份，個人消費支出（PCE）通貨膨脹（美聯儲的首選措施）恰好符合預期，至2.5％。據報導，核心PCE通貨膨脹率為2.6％，也匹配預測，這標誌著自2024年9月以來PCE通貨膨脹的首次下降。

This confirms steady performance both year-over-year and month-over-month. Headline PCE remained at 2.5% YoY, while core PCE—revised from a previous 2.8% (and even 2.9% in earlier revisions) to 2.6%—represents a 30 basis point improvement. This core headline reading is the lowest YoY since August 2024, and it is notable as the first slowdown in headline PCE YoY in four months. These figures suggest that easing inflationary pressures might be gradually reshaping market sentiment.

這證實了同比和月份的穩定表現。標題PCE仍然處於2.5％的同胞狀態，而核心PCE（從前的2.8％（甚至在早期修訂中甚至2.9％）中重新定義到2.6％），有30個基點的改善。此核心標題閱讀是自2024年8月以來最低的，這是四個月內PCE的首次放緩。這些數字表明，緩解通貨膨脹壓力可能會逐漸重塑市場情緒。

Bitcoin And Altcoins See Relief On Inflation Data

比特幣和山寨幣請參見通貨膨脹數據的緩解

Crypto analyst BACH (@CyclesWithBach) was quick to respond on X, emphasizing the bullish nature of the data. He noted that “this core headline number is the lowest reading YoY since August 2024” and pointed to the 30bp revision as a significant improvement. Although he warned of too much optimism, he stated: “This is a BIG difference and is in fact bullish for markets! We may still see some choppy bottoming formation, but this bull ain’t over! – Credit spreads despite all this remain narrow, which is a sign that credit markets see no risk!”

加密分析師巴赫（@cycleswithbach）很快就響應X，強調了數據的看漲本質。他指出，“這個核心標題是自2024年8月以來的閱讀量最低”，並指出30BP修訂是一個重大改進。儘管他警告過太多樂觀，但他說：“這是一個很大的差異，實際上對市場是看好的！我們可能仍然會看到一些斷斷續續的底層形成，但是這隻公牛還沒有結束！ - 信貸利差仍然狹窄，這表明信貸市場沒有風險！”

Following the data release, Bitcoin recovered back above $84,000, up 3.5% since the report and about 7.5% from today’s low of $78,258. After a week in which Bitcoin suffered an 18% decline, losing $96,000, the rebound marks a clear recovery.

數據發布後，比特幣恢復了84,000美元以上，自該報告以來增長了3.5％，比今天的低點78,258美元的低點恢復了約7.5％。一周後，比特幣下降了18％，損失了96,000美元，反彈標誌著明顯的恢復。

Altcoins were similarly buoyed; Ethereum climbed 5.8%, XRP gained 9.2%, and Solana surged 16%. Notably, SOL’s rally coincides with news that the CME Group will launch Solana (SOL) futures on March 17, pending CFTC regulatory review.

AltCoins同樣受到浮力；以太坊攀升了5.8％，XRP上漲了9.2％，Solana飆升了16％。值得注意的是，SOL的集會與CME集團將於3月17日推出Solana（SOL）期貨的消息恰逢，等待CFTC監管審查。

Crypto analyst Kevin (@Kev_Capital_TA) also weighed in on the implications of the PCE release, remarking that “Fed CME interest rate Futures at the current moment has increased to 53.7% probability of a rate cut in June after the PCE Report. Up from below 50%. That’s solid news. #BTC #Altcoins #Crypto”

加密分析師Kevin（@KeV_Capital_TA）也對PCE版本的含義進行了權衡，他指出：“當前時刻，FED CME利率期貨已增加到PCE報告後6月降低利率的53.7％。從低於50％的人提高。這是可靠的消息。 #BTC #altcoins #crypto”

Broader Macro Perspective

更廣泛的宏觀觀點

Beyond the PCE data, broader macroeconomic signals could further support market recovery. Julien Bittel, Head of Macro Research at Global Macro Investor (GMI), shared his perspective on X. He attributes current market volatility, especially in crypto, to the tightening of financial conditions in Q4 of last year, which drained liquidity and slowed economic surprises.

除了PCE數據之外，更廣泛的宏觀經濟信號還可以進一步支持市場恢復。全球宏觀投資者（GMI）宏觀研究負責人朱利安·比特爾（Julien Bittel）分享了他對X的看法。他將當前市場波動率（尤其是在加密貨幣）歸因於去年第四季度財務狀況的收緊，這消耗了流動性並減緩了經濟驚喜。

But Bittel suggests that these conditions are now reversing: “Financial conditions have been easing rapidly over the past two months — dollar down, bond yields down, oil down — and that’s setting the stage for a recovery in the data soon.” He further notes that Bitcoin’s price now fully reflects the effects of recent tightening, and with an RSI at 23—the most oversold level since August 2023—he advised, “be greedy when others are fearful.”

但是比特爾認為，這些條件現在正在扭轉：“在過去的兩個月中，財務狀況一直在迅速緩解 - 美元下跌，債券下降，加油 - 這為數據恢復奠定了基礎。”他進一步指出，比特幣的價格現在完全反映了最近收緊的效果，而RSI的效果為23，這是自2023年8月以來的最高水平，他建議：“當其他人害怕時，要貪婪。”

At press time, BTC traded at $83,804.

發稿時，BTC的交易價格為83,804美元。