比特币创历史新高后触及 100,430 美元，但鲍威尔的降息警告扰乱了加密市场

比特币是市值最大的加密货币，在本周早些时候短暂触及 108,000 美元的历史新高后，过去 24 小时内大幅下跌 5%，跌至 100,430 美元。

The Federal Reserve’s decision to cut interest rates by a quarter point was largely anticipated by markets, but a statement from Fed Chair Jerome Powell indicating a cautious approach to further rate cuts in 2025 appeared to spook investors, leading them to sell off high-risk assets like cryptocurrencies and U.S. equities.

美联储降息25个基点的决定在很大程度上是市场预期的，但美联储主席杰罗姆·鲍威尔的声明表明对2025年进一步降息采取谨慎态度，这似乎吓坏了投资者，导致他们抛售高风险资产例如加密货币和美国股票。

Bitcoin, the largest cryptocurrency by market capitalization, saw a sharp 5% drop in the past 24 hours, falling to $100,430 after briefly hitting a new all-time high of $108,000 earlier in the week. The downturn came as part of a broader market unease following Powell’s comments, which erased gains from three consecutive days of record-breaking highs.

比特币是市值最大的加密货币，在本周早些时候短暂触及 108,000 美元的历史新高后，过去 24 小时内大幅下跌 5%，跌至 100,430 美元。此次经济低迷是鲍威尔言论后更广泛市场不安的一部分，鲍威尔言论抹去了连续三天创纪录高点的涨幅。

The price of XRP took an even steeper dive, dropping by 10% in the past 24 hours after a brief spike following Tuesday’s price surge. Similarly, Dogecoin saw a sharp decline of 9%, falling to $0.363, marking a monthly low for the top meme coin.

XRP 的价格在周二价格飙升后出现短暂上涨后，价格出现了更大幅度的下跌，在过去 24 小时内下跌了 10%。同样，狗狗币也大幅下跌 9%，跌至 0.363 美元，创下了顶级 meme 代币的月度低点。

The rate decision led to a cascade of liquidations as traders who had bet on further bullish price moves were caught off guard by the market shift. According to data from CoinGlass, over $690 million in futures positions were liquidated in the past 24 hours, with the majority being long bets. At one point, a staggering $300 million in futures positions were liquidated in just one hour.

由于押注价格进一步看涨的交易者对市场变化措手不及，利率决定导致了一系列清算。 CoinGlass的数据显示，过去24小时内，超过6.9亿美元的期货头寸被清算，其中大部分是多头押注。一度，短短一小时内就清算了价值 3 亿美元的期货头寸。

Cryptocurrencies like Bitcoin have historically performed well in low-interest-rate environments, much like equities, due to the increased appetite for risk and liquidity. However, the Federal Reserve’s aggressive rate hikes in 2022, aimed at combating post-pandemic inflation, dampened the appeal of Bitcoin and similar assets.

由于人们对风险和流动性的胃口增加，比特币等加密货币历来在低利率环境中表现良好，就像股票一样。然而，美联储在 2022 年为应对疫情后通胀而大幅加息，削弱了比特币和类似资产的吸引力。

This week’s moderate 25-basis-point rate cut signaled a shift in strategy, but Powell’s statement—“We can therefore be more cautious as we consider further adjustments to our policy rate”—left markets on edge, as it raised concerns about the pace of future monetary easing.

本周适度降息 25 个基点标志着策略的转变，但鲍威尔的声明——“因此，我们在考虑进一步调整政策利率时可以更加谨慎”——让市场感到紧张，因为它引发了对降息步伐的担忧未来的货币宽松政策。

Despite Wednesday’s slump, Bitcoin’s recent rally to an all-time high of $108,000 highlighted its growing role in financial markets. Notably, some prominent figures, including former President Donald Trump and other Republicans, have proposed the idea of the U.S. holding Bitcoin in its strategic reserves—a move that, while speculative, further attests to the cryptocurrency’s increasing legitimacy.

尽管周三暴跌，但比特币最近反弹至 108,000 美元的历史新高，凸显了其在金融市场中日益增强的作用。值得注意的是，包括前总统唐纳德·特朗普和其他共和党人在内的一些知名人物提出了美国将比特币作为其战略储备的想法——此举虽然具有投机性，但进一步证明了加密货币日益增强的合法性。

Earlier this year at the New York Times DealBook Summit, Powell said that Bitcoin is more comparable to gold than to the U.S. dollar, emphasizing its role as a speculative asset rather than a reliable store of value. “Bitcoin is not a competitor for the dollar; it’s really a competitor for gold,” Powell said. However, he dismissed the notion of the Federal Reserve holding Bitcoin, stating, “The Federal Reserve is not permitted to own Bitcoin, nor are we seeking a change in the law.”

今年早些时候，鲍威尔在纽约时报 DealBook 峰会上表示，比特币更类似于黄金，而不是美元，强调其作为投机资产而不是可靠的价值储存手段的作用。 “比特币不是美元的竞争对手；它是美元的竞争对手。它确实是黄金的竞争对手，”鲍威尔说。然而，他驳斥了美联储持有比特币的说法，并表示，“美联储不被允许拥有比特币，我们也不寻求改变法律。”

The volatility following Powell’s remarks highlights the delicate balance that central banks must strike in managing monetary policy without unsettling financial markets. As Bitcoin continues to establish its presence in the mainstream, comparisons to gold are apt, reflecting its growing stature, but its highly speculative nature keeps it closely tied to market sentiment and macroeconomic shifts.

鲍威尔讲话后的波动凸显了央行在管理货币政策时必须达到的微妙平衡，同时又不扰乱金融市场。随着比特币继续在主流中占据一席之地，与黄金进行比较是恰当的，反映出其地位不断提高，但其高度投机性使其与市场情绪和宏观经济变化密切相关。

For now, the crypto market remains at the mercy of cautious monetary policy, with its next moves likely dictated by the Fed’s broader strategy in 2025.

目前，加密货币市场仍受到谨慎货币政策的影响，其下一步行动可能取决于美联储 2025 年更广泛的战略。