在美联储收紧政策和监管担忧的背景下，比特币持续低迷

周一，由于美国长期高利率，加密货币的悲观情绪持续存在，比特币价格进一步下跌。存款信托与清算公司（DTCC）改变了抵押品监管，给加密货币带来了额外的挑战。最近的 PCE 价格指数数据表明，对利率上升和持续通胀的担忧严重影响了比特币的价值。包括以太坊、XRP 和 Solana 在内的主要山寨币也出现下跌，加密货币市场与科技股上涨的相关性有限。

Bitcoin's Decline Continues Amidst Tightening Monetary Policy and Regulatory Headwinds

在货币政策收紧和监管不利的情况下，比特币继续下跌

The cryptocurrency market remained under pressure on Monday as Bitcoin (BTC) extended its losses. The token has been facing persistent headwinds in recent weeks, primarily driven by a shift in Federal Reserve (Fed) policy and regulatory concerns.

由于比特币（BTC）扩大跌幅，周一加密货币市场仍然面临压力。最近几周，该代币一直面临持续的阻力，主要是由于美联储（Fed）政策和监管担忧的转变。

DTCC's Collateral Changes Dent Crypto's Appeal

DTCC 的抵押品变化削弱了加密货币的吸引力

A significant blow to crypto came from the Depository Trust & Clearing Corporation (DTCC), a major financial services provider. DTCC announced that it will no longer accept Bitcoin and other cryptocurrencies as collateral for exchange-traded funds and other investment vehicles. This move, effective April 30th, significantly dampens the appeal of crypto, which has traditionally served as a primary vehicle for speculative activity.

对加密货币的重大打击来自主要金融服务提供商存款信托与清算公司（DTCC）。 DTCC 宣布将不再接受比特币和其他加密货币作为交易所交易基金和其他投资工具的抵押品。这一举措于 4 月 30 日生效，显着削弱了加密货币的吸引力，而加密货币传统上一直是投机活动的主要工具。

Hawkish Fed Policy Weighs on Crypto

美联储鹰派政策打压加密货币

The DTCC decision further compounded Bitcoin's downward trajectory, which was already suffering from the weight of higher-for-longer U.S. interest rates. Cryptocurrencies have typically thrived in a low-rate, high-liquidity environment, which the Fed's monetary tightening efforts are reversing.

DTCC 的决定进一步加剧了比特币的下行轨迹，比特币已经受到美国长期较高利率的影响。加密货币通常在低利率、高流动性的环境中蓬勃发展，而美联储的货币紧缩措施正在扭转这种环境。

Hotter-than-expected inflation data, as measured by the Fed's preferred Personal Consumption Expenditures (PCE) price index, has further pressured crypto markets. Sticky inflation has left the Fed little room to ease rates, as evidenced by recent inflation readings.

以美联储首选的个人消费支出（PCE）价格指数衡量的通胀数据高于预期，进一步给加密货币市场带来压力。最近的通胀数据证明，粘性通胀让美联储几乎没有降息的空间。

Market Awaits Fed Meeting for Rate Cues

市场等待美联储会议寻求利率线索

All eyes are now on the upcoming Fed meeting later this week, where the central bank is widely expected to keep rates unchanged. However, the market will be closely watching for any signals on the future path of interest rates. The Fed is currently anticipated to begin cutting rates by September or in the fourth quarter.

现在所有人的目光都集中在本周晚些时候即将举行的美联储会议上，人们普遍预计美联储将维持利率不变。然而，市场将密切关注未来利率走势的任何信号。目前预计美联储将在 9 月或第四季度开始降息。

Altcoins Follow Bitcoin's Downward Trend

山寨币跟随比特币的下跌趋势

Major altcoins echoed Bitcoin's losses, mirroring the broader market sentiment. Ethereum (ETH), the world's second-largest cryptocurrency, dropped 3.4% to $3,202.01. XRP and Solana lost 3% and 4.5%, respectively.

主要山寨币与比特币的下跌相呼应，反映了更广泛的市场情绪。全球第二大加密货币以太坊 (ETH) 下跌 3.4%，至 3,202.01 美元。 XRP 和 Solana 分别下跌 3% 和 4.5%。

Tech Stock Gains Offer Little Support

科技股上涨几乎没有提供支撑

Despite strong earnings reports from tech titans Microsoft and Alphabet (Google's parent company), crypto prices found little support. The correlation between crypto and tech stocks has somewhat weakened in recent months, with cryptocurrencies showing limited upside from tech stock gains. Instead, the risk-off sentiment in the tech sector has amplified the downward pressure on crypto in recent sessions.

尽管科技巨头微软和 Alphabet（谷歌的母公司）发布了强劲的盈利报告，但加密货币价格几乎没有得到支撑。近几个月来，加密货币与科技股之间的相关性有所减弱，加密货币从科技股上涨中获得的上涨空间有限。相反，科技行业的避险情绪在最近几个交易日放大了加密货币的下行压力。

Conclusion

结论

The cryptocurrency market remains under duress as sentiment towards cryptocurrencies remains negative. The DTCC's collateral changes, combined with the Fed's hawkish policy stance, are creating significant headwinds for the industry. The market will continue to monitor the Fed's actions closely for any indication of a shift in monetary policy, while the impact of the DTCC's decision on crypto adoption and speculation remains to be seen.

由于人们对加密货币的情绪仍然消极，加密货币市场仍然面临压力。 DTCC 抵押品的变化，加上美联储的强硬政策立场，正在给该行业带来巨大的阻力。市场将继续密切关注美联储的行动，以寻找任何货币政策转变的迹象，而 DTCC 的决定对加密货币采用和投机的影响仍有待观察。