中国人民币（CNY）在18年内达到了最低水平（美元）

2025年4月10日，中国人民币（CNY）在18年内达到了最低水平（美元）

On April 10, 2025, the Chinese yuan (CNY) hit its lowest level in 18 years against the US dollar (USD) amid escalating tensions in the ongoing trade war between the two global economic giants.

2025年4月10日，中国人民币（CNY）在18年来兑美元（美元）中达到了其最低水平，这是两家全球经济巨头之间正在进行的贸易战的不断加剧。

This significant milestone in China’s monetary policy has sparked renewed discussions about its implications for the cryptocurrency market—particularly Bitcoin (BTC).

中国货币政策中的这一重要里程碑引发了人们对其对加密货币市场的影响（尤其是比特币（BTC））的重新讨论。

CNY Devaluation Amid US-China Trade War

美国 - 中国贸易战中的cny贬值

One must first consider the broader economic context to understand the CNY devaluation. China is under heavy pressure from a trade war with the United States, especially after the US imposed a sweeping 104% tariff on Chinese goods.

必须首先考虑更广泛的经济环境，以了解CNY贬值。中国面临着与美国的贸易战争的巨大压力，尤其是在美国对中国商品征收104％的关税之后。

In retaliation, China introduced an 84% tariff on imports from the US. These measures have intensified economic friction between the two nations and placed the Chinese currency in a downward spiral.

在报复中，中国对美国进口征收84％的关税。这些措施加剧了两国之间的经济摩擦，并将中国货币置于螺旋上。

According to data from TradingView, the USD/CNY reference rate currently sits at 7.3412. Historical data shows that the yuan has fallen to its lowest point since 2007. This suggests that China may intentionally loosen monetary controls to support its export-driven economy as it grapples with slowing growth.

根据TradingView的数据，USD/CNY参考率目前为7.3412。历史数据表明，人民币已经跌至自2007年以来的最低点。这表明中国可能会故意放松货币控制，以支持其出口驱动的经济，因为它与增长的增长陷入了缓慢。

A Bullish Signal for Bitcoin and the Crypto Market

比特币和加密市场的看涨信号

Arthur Hayes, co-founder of BitMEX, highlighted the potential link between the CNY devaluation and Bitcoin’s rise in a recent post on X (formerly Twitter). Hayes noted similar patterns in 2013 and 2015 when Chinese investors turned to Bitcoin as a haven. He predicts a repeat in 2025 as investors seek to shield their wealth from the falling yuan.

BITMEX的联合创始人Arthur Hayes在最近在X（以前是Twitter）上的一篇文章中强调了CNY贬值与比特币崛起之间的潜在联系。海斯（Hayes）在2013年和2015年指出了类似的模式，当时中国投资者将比特币视为天堂。他预测，由于投资者试图将财富免受下落的人民峰的影响，他将在2025年进行重复。

“CNY deval = narrative that Chinese capital flight will flow into $BTC,” Hayes remarked.

海斯说：“ cny deval =中国资本飞行将流向$ btc的叙述。”

In 2013, during stringent financial controls in China, Bitcoin emerged as an attractive alternative asset.

2013年，在中国严格的财务控制期间，比特币成为一种有吸引力的替代资产。

“I think the Chinese really look to bitcoin as an excellent digital store of value, sort of like the new electronic version of gold.” said Bobby Lee, CEO of BTC China.

“我认为中国人确实将比特币视为一种出色的价值数字商店，有点像新的电子版本。” BTC中国首席执行官Bobby Lee说。

This tendency became even more pronounced due to China’s strict capital control measures. These measures limit individuals from transferring just $50,000 abroad annually. As the yuan depreciates, Chinese citizens see their domestic purchasing power decline, prompting them to seek alternative stores of value.

由于中国的严格资本控制措施，这种趋势变得更加明显。这些措施限制了个人每年仅转移50,000美元。正如人民币贬值的那样，中国公民看到他们的国内购买力下降，促使他们寻求替代价值的替代商品。

With its decentralized nature and independence from government control, Bitcoin has become an appealing option.

比特币凭借其分散的性质和远离政府控制的独立性，已成为一种吸引人的选择。

In 2017, when China tightened capital controls and banned domestic cryptocurrency exchanges, Forbes reported that Chinese investors flocked to Bitcoin to bypass these restrictions. This surge in demand pushed trading volume on platforms like Huobi (HTX) and OKX to record highs.

2017年，当中国收紧资本管制并禁止国内加密货币交易所时，福布斯报告说，中国投资者涌向比特币以绕过这些限制。这种需求激增推动了Huobi（HTX）和OKX等平台上的交易量以记录高点。

At one point, these Chinese exchanges accounted for more than 90% of global Bitcoin trading volume. However, as the CNY strengthened, Bitcoin prices fell.

在某一时刻，这些中国交易所占全球比特币交易量的90％以上。但是，随着CNY的加强，比特币价格下跌。

In 2020, the weakening of the yuan again drew analysts’ attention. Chris Burniske, a well-known voice in the crypto space, predicted that a weaker yuan could drive Bitcoin prices higher—mirroring patterns observed in 2015 and 2016. He emphasized that if the CNY continues to fall against the USD, Bitcoin could enter another strong growth phase.

在2020年，人民币的削弱再次引起了分析师的注意。克里斯·伯尼斯克（Chris Burniske）是加密货币领域中著名的声音，他预测较弱的人民币可能会提高比特币价格 - 在2015年和2016年观察到的训练模式。他强调，如果CNY继续违反美元，比特币可能会进入另一个强劲的增长阶段。

The yuan’s plunge to an 18-year low in 2025 could signal another bullish cycle for Bitcoin. First, strict capital controls remain, limiting Chinese investors’ ability to move wealth overseas. This restriction makes Bitcoin a viable option for capital preservation.

元素在2025年的跌至18年低点可能标志着比特币的另一个看涨周期。首先，仍然存在严格的资本管制，限制了中国投资者将财富转移到海外的能力。该限制使比特币成为可行的资本保存选择。

Second, historical patterns reinforce the view that a weakening CNY often coincides with Bitcoin’s upward momentum.

其次，历史模式强化了这样一种观点，即弱化的CNY经常与比特币的向上势头相吻合。

Finally, global market sentiment could shift as investors anticipate capital outflows from China entering Bitcoin, further fueling price gains. As the world watches China’s monetary decisions closely, Bitcoin stands poised to benefit as a hedge against devaluation and a global store of value in uncertain times.

最后，随着投资者预期从中国进入比特币的资本流出，进一步推动了价格上涨，全球市场情绪可能会发生变化。当世界紧密关注中国的货币决定时，比特币立场准备好受益，以抵抗贬值和在不确定时期的全球价值存储。