比特币的“数字黄金”地位将在通胀担忧中推动需求：Coinbase

Coinbase 预测，由于通胀担忧，比特币的需求将会增加，并将其视为“数字黄金”。现货比特币 ETF 极大地改变了市场结构，释放了可以减少波动性的资本。尽管市场波动，Coinbase 仍对加密货币市场前景持乐观态度，并以最近强劲的美国就业报告和即将到来的比特币减半为积极指标。

Coinbase: Bitcoin's Digital Gold Status to Fuel New Demand Amidst Inflation Concerns

Coinbase：比特币的数字黄金地位将在通胀担忧中刺激新需求

In a comprehensive research report released on Friday, Coinbase, the leading cryptocurrency exchange, presented a bullish outlook for the cryptocurrency market in the second quarter. This optimism stems from bitcoin's growing acceptance as "digital gold," a perception that could attract substantial demand in the current macroeconomic environment.

在周五发布的综合研究报告中，领先的加密货币交易所 Coinbase 对第二季度加密货币市场提出了看涨的前景。这种乐观情绪源于比特币作为“数字黄金”的日益被接受，这种看法可能会在当前宏观经济环境下吸引大量需求。

The report highlights the significance of the capital unlocked by spot bitcoin exchange-traded funds (ETFs) in the U.S. This development marks a fundamental shift in market structure compared to the previous crypto cycle. The easier accessibility to bitcoin through ETFs is expected to reduce volatility and provide support for price stability.

该报告强调了美国现货比特币交易所交易基金（ETF）释放的资金的重要性。与之前的加密货币周期相比，这一发展标志着市场结构的根本性转变。通过 ETF 更容易获取比特币预计将减少波动性并为价格稳定提供支持。

According to Coinbase analyst David Han, bitcoin's increased acceptance as a form of digital gold could attract a new cohort of investors. This demand could provide a buffer against market downturns, enabling more aggressive buying during dips despite ongoing price volatility.

Coinbase 分析师 David Han 表示，比特币作为一种数字黄金形式的接受度不断提高，可能会吸引一批新的投资者。这种需求可以为市场低迷提供缓冲，尽管价格持续波动，但在下跌期间仍可进行更积极的买盘。

The report also highlights concerns about inflation, citing the recent hawkish stance of the Federal Reserve and the surprisingly strong U.S. jobs market. Gold, a traditional safe haven during inflationary periods, has outperformed other assets, suggesting that investors are seeking alternatives to hedge against rising prices.

该报告还强调了对通胀的担忧，理由是美联储最近的强硬立场以及美国就业市场出人意料的强劲。黄金是通胀时期的传统避风港，其表现优于其他资产，表明投资者正在寻找替代品来对冲价格上涨。

Given the correlation between gold and bitcoin, Coinbase believes this bodes well for the cryptocurrency. Investors may flock to bitcoin as a digital alternative to gold, further boosting its demand.

鉴于黄金和比特币之间的相关性，Coinbase 认为这对加密货币来说是个好兆头。投资者可能会涌向比特币作为黄金的数字替代品，进一步提振其需求。

The upcoming bitcoin halving in April, which will reduce the supply of bitcoin by 50%, is another positive catalyst mentioned in the report. This event is expected to further restrict supply and potentially drive up prices.

即将到来的4月份比特币减半，将使比特币的供应量减少50%，是报告中提到的另一个积极催化剂。预计这一事件将进一步限制供应并可能推高价格。

Coinbase remains largely optimistic about the cryptocurrency market in the second quarter. The combination of bitcoin's digital gold status, the capital injection from spot ETFs, and the upcoming halving provides a strong foundation for growth. Despite ongoing volatility, the report suggests that dips are likely to be met with aggressive buying, supporting a bullish outlook for the coming months.

Coinbase 对第二季度的加密货币市场仍持乐观态度。比特币的数字黄金地位、现货ETF的注资以及即将到来的减半，为增长奠定了坚实的基础。尽管波动持续存在，但该报告表明，价格下跌可能会引发积极的买盘，从而支持未来几个月的看涨前景。

The cryptocurrency market has experienced a downturn in recent weeks, along with other risk assets, following the Federal Reserve's cautious stance on future interest rate cuts. However, Coinbase's analysis suggests that bitcoin's unique characteristics could provide resilience in this environment, attracting investors seeking protection against inflation and a potential alternative to traditional safe havens.

在美联储对未来降息采取谨慎立场之后，加密货币市场以及其他风险资产在最近几周经历了低迷。然而，Coinbase 的分析表明，比特币的独特特性可以在这种环境下提供弹性，吸引寻求抵御通胀和传统避风港潜在替代品的投资者。