市场等待特朗普就职典礼，比特币 (BTC) 区间波动于 9.1 万美元至 9.5 万美元之间

过去几天，比特币的交易价格似乎一直徘徊在 9.1 万美元（14.78 万澳元）和 9.5 万美元（15.43 万澳元）之间。尽管 BTC 在过去 24 小时内上涨了约 1.3%，但每周仍下跌 2.7%。

Bitcoin price has been trading in a relatively tight range for the past few days, with limited gains or losses. After kicking off the week with a promising rally, BTC’s momentum seems to have stalled somewhat.

过去几天，比特币价格一直在相对狭窄的区间内交易，涨幅或损失有限。在以充满希望的反弹开启本周后，比特币的势头似乎有所停滞。

At the time of writing, BTC trades at around US$92,700 (AU$150.6k), up 1.3% in 24 hours but still down 2.7% on the weekly time frame.

截至撰写本文时，BTC 交易价格约为 92,700 美元（15.06 万澳元），24 小时内上涨 1.3%，但每周仍下跌 2.7%。

Bitcoin’s 24-hour price chart, showing a slight gain. Source: TradingView

比特币24小时价格图，显示小幅上涨。来源：TradingView

Relative to recent highs, BTC has dropped around 11% from the all-time peak of US$103,400 (AU$168.2k) seen on December 1. Still, the world’s largest cryptocurrency is up more than 450% year-to-date (YTD).

相对于近期高点，BTC 较 12 月 1 日创下的历史最高点 103,400 美元（16.82 万澳元）下跌了约 11%。尽管如此，全球最大的加密货币今年迄今仍上涨了 450% 以上。

Crypto Sell-Off Snowballs as Economic Fears Deepen

随着经济担忧加深，加密货币抛售滚雪球

As covered by Decrypt, Bitcoin’s price action comes against a backdrop of worsening economic fears, with a sell-off in crypto snowballing on December 15.

正如 Decrypt 报道的那样，比特币的价格走势是在经济担忧不断恶化的背景下发生的，12 月 15 日加密货币抛售如滚雪球般加剧。

The broader crypto market also painted a dull picture on Friday, with most altcoins showing limited price action.

周五，更广泛的加密货币市场也呈现出黯淡的景象，大多数山寨币的价格走势有限。

Ethereum (ETH) dropped 8% week-on-week, while Solana (SOL) even dropped 9.8% during the same time. At the time of writing, ETH trades at around US$3,100 (AU$5,040), down 2.3% in 24 hours.

以太坊 (ETH) 每周下跌 8%，而 Solana (SOL) 同期甚至下跌 9.8%。截至撰写本文时，ETH 交易价格约为 3,100 美元（5,040 澳元），24 小时内下跌 2.3%。

Trump Inauguration Hopes Buoying Bitcoin Ahead of Key Macro Data

特朗普就职典礼希望在关键宏观数据之前提振比特币

With just seven days until Donald Trump is officially moving back into the White House, some analysts are suggesting that we’re starting to see the “pre-Inauguration Day rally” kick off.

距离唐纳德·特朗普正式重返白宫仅剩 7 天，一些分析人士表示，我们将开始看到“就职日前集会”拉开帷幕。

Investors are hoping that Trump will mention or otherwise acknowledge crypto on inaugural day, January 20.

投资者希望特朗普能在 1 月 20 日就职典礼当天提及或以其他方式承认加密货币。

In a recent note to investors, Swissblock analysts asked whether this will “turn into a ‘buy the rumor, sell the news’ event, leading to a Bitcoin correction before or during that day?”

在最近给投资者的一份报告中，Swissblock 分析师问道，这是否会“变成‘谣言买入，新闻卖出’事件，导致比特币在当天之前或当天出现回调？”

Or if a new all-time high is on the cards instead:

或者如果有可能创下历史新高：

Either way, it won’t be an easy couple of days for the OG crypto, because there are substantial macro factors ahead which could influence the path over the short-term.

无论哪种方式，对于 OG 加密货币来说，这都不会是轻松的几天，因为未来存在大量宏观因素可能会影响短期的走势。

While BTC appears to be holding up well from a technical perspective, the analysts noted that US inflation data and other macroeconomic factors are still likely to cause some volatility, which could spook investors.

尽管从技术角度来看，比特币似乎表现良好，但分析师指出，美国通胀数据和其他宏观经济因素仍可能造成一定波动，这可能会令投资者感到恐慌。

Stagflation Presents Both Opportunity and Risk for Bitcoin

滞胀为比特币带来了机遇和风险

Recent economic data showed robust US job growth, but there are still concerns about persistent inflation, high US debt levels, and the possibility of stagflation.

近期经济数据显示美国就业增长强劲，但仍存在对持续通胀、美国高债务水平以及滞胀可能性的担忧。

Stagflation – a combination of high inflation with stagnant growth in the economy – could present both opportunities and challenges for Bitcoin.

滞胀——高通胀与经济增长停滞的结合——可能给比特币带来机遇和挑战。

Its impact on Bitcoin’s price will likely depend on how investors view Bitcoin (as a safe haven or a risk asset) and how governments and central banks respond to the economic conditions.

它对比特币价格的影响可能取决于投资者如何看待比特币（作为避险资产或风险资产）以及政府和央行如何应对经济状况。

More evidence of stagflation:

更多滞胀证据：

The ISM manufacturing PMI index rose to 49.3 points in December, but remained in contraction territory.

12月份ISM制造业PMI指数升至49.3点，但仍处于收缩区间。

This marks the 25th month of contraction out of the last 26, the 2nd longest streak on record.

这是过去 26 个月中出现的第 25 个月出现收缩，也是有记录以来第二长的连续收缩。

The employment index fell to 45.3 shrinking for… pic.twitter.com/qicFwKGDhW

就业指数跌至 45.3，萎缩…… pic.twitter.com/qicFwKGDhW

Analysts at The Kobeissi Letter noted “more evidence of stagflation,” warning:

《科贝西信函》的分析师指出“更多滞胀证据”，并警告说：

“Fidelity Digital Assets research director Chris Kuiper adds that ‘continued large and structural fiscal deficits’ make it easy to envision a second wave of inflation.”

“富达数字资产研究总监克里斯·库伊珀补充说，‘持续的巨额结构性财政赤字’让人很容易想象第二波通胀。”