比特币（BTC）的价格引起了人们的关注，因为美国10年期库存收益率下降了4％

埃里万（coinchapter.com） - 美国10年的财政收益率降至4％以下，这是自2024年10月以来的第一次。在对经济不确定性，衰退的担忧增加以及对美联储可能会更快降低利率的期望时，这种下降是在日益严重的关注期间。

The yield on the 10-year Treasury fell below 4% for the first time since October 2024 on Monday, as growing concerns over economic uncertainty and rising recession fears drove expectations of sooner-than-expected interest rate cuts by the Federal Reserve.

自2024年10月，周一的10年期财政部的收益率首次下降到4％以下，因为人们对经济不确定性和衰退的不断增长的担忧越来越担心，这引起了美联储降低的期望。

The financial platform Barchart posted data showing the drop in yield, which comes amid reduced demand for government bonds. Lower Treasury yields translate to less attractive returns on safer investments, potentially pushing some investors toward riskier assets like Bitcoin.

金融平台Barchart发布了数据显示收益率下降的数据，这在对政府债券的需求减少之内导致。较低的财政收益率转化为更安全的投资回报率较低，可能会将一些投资者推向像比特币这样的风险资产。

The 2-year Treasury yield also dropped sharply following new tariff announcements. This decrease suggests that the bond market anticipates an interest rate cut or a shift in monetary policy.

在新的关税公告之后，为期2年的财政收益率也大幅下降。这种减少表明，债券市场预计降低利率或货币政策的转变。

Bitcoin gains attention amid falling Treasury yields

比特币在财政部产量下降的情况下引起了人们的注意

Lower yields on 10-year Treasuries usually make bonds less appealing. As bond returns decrease, some investors might shift capital to other assets. In past instances, Bitcoin has often attracted attention during similar times.

10年国库的较低收益通常会使债券的吸引力降低。随着债券回报的减少，一些投资者可能会将资本转移到其他资产。在过去的情况下，比特币经常在类似时期引起人们的注意。

Crypto analyst Dan Gambardello explained that falling yields diminish the incentive to keep money in government bonds.

加密分析师丹·甘巴德洛（Dan Gambardello）解释说，下降的产量减少了将金钱保留在政府债券中的动机。

“Less reason to sit in ‘safe’ bonds = more reason to chase returns in risk assets like BTC and alts,” Gambardello noted on X, summarizing the sentiment.

Gambardello在X上指出：“坐在'安全'债券中的理由更少。

This view aligns with past market behavior. When real yields decline, investors tend to increase exposure to Bitcoin and other digital assets due to increased liquidity and potential returns.

这种观点与过去的市场行为保持一致。当实际收益率下降时，由于流动性和潜在回报的增加，投资者倾向于增加对比特币和其他数字资产的敞口。

Former BitMEX CEO Arthur Hayes also touched upon the situation, highlighting that the 2-year Treasury yield fell sharply following the recent Trump tariffs. This drop signals that the market expects rate cuts from the Federal Reserve.

Bitmex前首席执行官亚瑟·海斯（Arthur Hayes）也谈到了这种情况，强调说，在最近的特朗普关税之后，为期两年的财政收益率急剧下降。该下降信号表明市场预计美联储降低了利率。

“The 2yr treasury yield dumped after Tariff announcement because the market is telling us the Fed will be cutting soon and possibly restarting QE to counter -ve economic impact,” Hayes wrote on X.

海斯在X上写道：“在关税公告后，2年的国库产量倾倒了，因为市场告诉我们美联储将尽快减少，并可能重新启动量化宽松以应对经济影响。”

His statement connects the tariff decision with possible quantitative easing (QE). This policy involves the central bank adding money into the economy, which can increase liquidity in markets like crypto.

他的声明将关税决定与可能的定量宽松（QE）联系起来。该政策涉及中央银行将资金添加到经济中，这可以增加加密货币等市场的流动性。

Trump Tariffs Fuel Market Volatility

特朗普关税燃料市场波动

The yield decline follows new tariffs introduced under Donald Trump’s economic strategy. These tariffs have raised concerns about slowing global trade. Investors moved funds into US bonds, pushing bond prices up and yields down in response.

收益率下降是在唐纳德·特朗普（Donald Trump）的经济战略下提出的新关税之后。这些关税引起了人们对减缓全球贸易的担忧。投资者将资金转移到了美国债券中，将债券价格推高并响应下降。

During his first term, Trump frequently called for a weaker dollar and lower interest rates, urging the Federal Reserve to cut interest rates to support US exports and spur economic growth.

在他的第一任期中，特朗普经常要求较弱的美元和较低的利率，敦促美联储降低利率以支持美国出口和刺激经济增长。

Kristoffer Kepin, a market analyst, observed that the M2 money supply is increasing, which could lead to more liquidity entering the markets, including Bitcoin and other digital assets.

市场分析师克里斯托弗·凯平（Kristoffer Kepin）观察到，M2货币供应正在增加，这可能会导致更多流动性进入市场，包括比特币和其他数字资产。

Major financial firms still favor traditional safe havens over Bitcoin. Goldman Sachs recommended the Japanese yen and gold as more reliable options during economic uncertainty.

主要金融公司仍然赞成传统的避风港而不是比特币。高盛将日元和黄金推荐为经济不确定性期间更可靠的选择。

“The yen offers investors the best currency hedge should the chances of a US recession increase,” said Kamakshya Trivedi, the bank’s head of global markets strategy, in remarks to Bloomberg on Monday.

周一，该银行全球市场策略负责人Kamakshya Trivedi说：“日元为投资者提供了最佳的货币对冲。”

Notably, Bank of America’s latest survey of fund managers showed that 58% favored gold in trade conflict scenarios, while only 3% preferred Bitcoin, indicating continued caution around digital assets during global market stress.

值得注意的是，美国银行对基金经理的最新调查显示，在贸易冲突情景中，有58％的人喜欢黄金，而只有3％的比特币首选，这表明在全球市场压力期间，数字资产周围的数字资产持续谨慎。