降息希望减弱和 ETF 兴奋减弱，比特币下跌

由于美联储降息预期下降以及交易所交易基金（ETF）需求减弱，比特币自 3 月中旬以来已暴跌 10%。此次下跌是在经济前景表明利率将在较长时期内保持较高水平的情况下发生的。

Bitcoin Plunges Amid Waning Rate-Cut Expectations and Subdued ETF Enthusiasm

降息预期减弱和 ETF 热情减弱，比特币暴跌

New York, April 1, 2024 - Bitcoin, the leading cryptocurrency, has experienced a significant decline, losing approximately 10% since its mid-March peak of $74,000. This downturn has been attributed to a combination of factors, including diminishing market expectations for interest rate cuts by the Federal Reserve and waning interest in cryptocurrency exchange-traded funds (ETFs).

纽约，2024 年 4 月 1 日 - 领先的加密货币比特币经历了大幅下跌，自 3 月中旬 74,000 美元的峰值以来下跌了约 10%。这种低迷是由多种因素造成的，包括市场对美联储降息的预期减弱以及对加密货币交易所交易基金（ETF）的兴趣减弱。

The Federal Reserve's recent hawkish tone has dampened market optimism for a swift shift in monetary policy. Investors had previously anticipated a more accommodative stance from the central bank, which would have favored risky assets like Bitcoin. However, the Fed's commitment to raising interest rates in a bid to contain inflation has led to a reassessment of market expectations for near-term monetary easing.

美联储近期的强硬语气削弱了市场对货币政策迅速转变的乐观情绪。投资者此前预计央行会采取更加宽松的立场，这将有利于比特币等风险资产。然而，美联储加息以抑制通胀的承诺导致市场重新评估近期货币宽松的预期。

The recent sluggish performance of Bitcoin ETFs has also contributed to the digital asset's decline. Despite the launch of several Bitcoin ETFs in the past year, their trading volumes have fallen short of expectations. Some analysts have attributed this to a decline in interest from institutional investors, who were initially seen as a key driver of ETF growth.

比特币ETF近期表现低迷也导致了该数字资产的下跌。尽管过去一年推出了多只比特币ETF，但它们的交易量仍低于预期。一些分析师将此归因于机构投资者兴趣下降，而机构投资者最初被视为 ETF 增长的关键驱动力。

The waning demand for Bitcoin ETFs has, in turn, reduced the flow of capital into the cryptocurrency market. Institutional investors typically prefer to gain exposure to Bitcoin through regulated and transparent investment vehicles like ETFs. The lackluster performance of these ETFs has made it more challenging for Bitcoin to attract new institutional money.

对比特币 ETF 的需求减弱反过来又减少了流入加密货币市场的资本。机构投资者通常更喜欢通过 ETF 等受监管且透明的投资工具来获得比特币投资。这些 ETF 的低迷表现使得比特币吸引新的机构资金变得更具挑战性。

Furthermore, the broader macroeconomic outlook remains challenging for Bitcoin. The escalating geopolitical tensions and the ongoing global economic slowdown have created uncertainty and risk aversion among investors. As a result, investors have been shifting their portfolios toward safer assets, such as government bonds and precious metals.

此外，更广泛的宏观经济前景对比特币来说仍然充满挑战。不断升级的地缘政治紧张局势和持续的全球经济放缓给投资者带来了不确定性和避险情绪。因此，投资者一直将投资组合转向更安全的资产，例如政府债券和贵金属。

Analysts have expressed mixed views on Bitcoin's future prospects. Some maintain that the long-term fundamentals of Bitcoin remain strong, while others believe that the current downturn could extend further. However, the recent decline serves as a reminder that Bitcoin is a highly volatile asset and subject to significant price swings.

分析师对比特币的未来前景表达了不同的看法。一些人认为比特币的长期基本面依然强劲，而另一些人则认为当前的低迷可能会进一步延续。然而，最近的下跌提醒人们，比特币是一种高度波动的资产，并且会受到大幅价格波动的影响。