10月美国核心PCE价格指数同比上涨2.8%，BTC价格突破97,000美元

周三，美国10月核心PCE物价指数同比上涨2.8%，符合预期，但仍高于美联储2%的目标。

The U.S. core PCE price index for October rose 2.8% year-on-year on Wednesday, largely in line with expectations. However, this reading still marks a deviation from the Fed’s 2% target. This data further stoked market concerns about continued high inflation and raised questions about the effectiveness of the Fed’s monetary policy tightening.

周三美国10月核心PCE物价指数同比上涨2.8%，基本符合预期。然而，这一数据仍偏离美联储2%的目标。这一数据进一步引发了市场对持续高通胀的担忧，并引发了对美联储收紧货币政策有效性的质疑。

This situation has left the Fed facing a tricky policy dilemma, according to Crescat Capital macro strategist Tavi Costa. He warned that the risk of a second wave of inflation appears to be brewing. If this happens, the Fed will face a difficult choice: further interest rate hikes could increase the government's debt burden, while slowing the pace of rate hikes could cause inflation to get out of control.

Crescat Capital宏观策略师塔维科斯塔表示，这种情况使美联储面临棘手的政策困境。他警告称，第二波通胀风险似乎正在酝酿。如果出现这种情况，美联储将面临一个艰难的选择：进一步加息可能会增加政府的债务负担，而放慢加息步伐则可能导致通胀失控。

In response, U.S. stocks fell, while the crypto market rose against the trend.

受此影响，美股下跌，而加密货币市场则逆势上涨。

Faced with inflationary pressure and uncertainty about the Fed's policies, traditional financial markets were cautious. All three major U.S. stock indexes fell. As of the close, the S&P, Dow Jones and Nasdaq fell 0.42%, 0.30% and 0.66% respectively.

面对通胀压力和美联储政策的不确定性，传统金融市场表现谨慎。美国三大股指全部下跌。截至收盘，标普、道琼斯和纳指分别下跌0.42%、0.30%和0.66%。

However, the crypto market showed strong resilience. Bitcoin prices rose sharply on Wednesday, breaking through the $97,000 mark, and Ethereum rose more than 10%, hitting a multi-month high. Ethereum (ETH) rose 10%, reaching a high of $3,687.01 during the day, the highest since June.

然而，加密货币市场表现出强大的韧性。周三比特币价格大幅上涨，突破97000美元大关，以太坊涨幅超过10%，创数月新高。以太坊（ETH）日内上涨 10%，触及 3,687.01 美元高点，为 6 月以来最高。

The top 200 tokens by market capitalization all rose. Among them, Kadena (KDA) ranked first with a 25.3% increase, followed by Uniswap (UNI) with a 23.7% increase, and PancakeSwap (CAKE) with a 22% increase.

市值排名前200的代币全部上涨。其中，嘉手纳（KDA）以25.3%的涨幅排名第一，其次是Uniswap（UNI），涨幅为23.7%，PancakeSwap（CAKE）涨幅为22%。

The current overall market value of cryptocurrencies is $3.34 trillion, and Bitcoin’s market share is 57.1%.

目前加密货币整体市值为3.34万亿美元，比特币的市场份额为57.1%。

According to Coinglass, the Ethereum ETF recorded positive capital inflows for three consecutive days, with a net inflow of up to $40.6 million on Tuesday. This trend sharply contrasts with the continued net outflow of Bitcoin ETF. QCP Capital analysts noted that the market is shifting funds from Bitcoin to Ethereum and altcoins. This phenomenon is driven not only by investors' expectations for the altcoin season but also by the ecological development of Ethereum itself and the strong performance of the derivatives market.

据Coinglass统计，以太坊ETF连续三天录得资金正流入，周二净流入高达4060万美元。这一趋势与比特币ETF持续净流出形成鲜明对比。 QCP Capital 分析师指出，市场正在将资金从比特币转移到以太坊和山寨币。这一现象的推动不仅是投资者对山寨币季节的预期，也是以太坊本身的生态发展和衍生品市场的强劲表现所推动的。

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