经济逆风阻碍了比特币的飙升，削弱了投资者的情绪

由于 CPI 数据高于预期，比特币价格在华尔街开盘下跌 0.5%。核心CPI较2月份上涨0.4%，较去年同期上涨3.8%，超出经济学家的预期。目前，美联储 6 月降息的可能性较小，市场分析师押注 5 月和 6 月利率将保持稳定，并可能在 9 月首次降息。

Economic Headwinds Hinder Bitcoin's Ascent, Dampening Investor Sentiment

经济逆风阻碍了比特币的上涨，削弱了投资者的情绪

On April 10th, the release of the United States Consumer Price Index (CPI) report sent shockwaves through the financial markets, triggering a downturn in Bitcoin (BTC) prices. The report indicated unexpectedly high inflation levels, casting doubt on the Federal Reserve's previously anticipated rate cut in June.

4月10日，美国消费者价格指数（CPI）报告的发布震动金融市场，引发比特币（BTC）价格下跌。该报告显示通胀水平出人意料地高，使人们对美联储此前预期的六月降息产生怀疑。

Data from Cointelegraph Markets Pro and TradingView revealed a sharp decline in BTC prices, with a 2.5% drop from $69,115 at the Wall Street open to an intraday low of $67,463 on Coinbase. This fluctuation occurred in direct response to the CPI data.

Cointelegraph Markets Pro 和 TradingView 的数据显示，BTC 价格大幅下跌，从华尔街开盘的 69,115 美元跌至 Coinbase 盘中低点 67,463 美元，跌幅为 2.5%。这种波动是对 CPI 数据的直接反应。

March's CPI figures exceeded economists' forecasts, indicating a concerning rise in inflationary pressures. Month-over-month inflation climbed by 0.4%, while year-over-year inflation reached 3.5%, surpassing estimates of 0.3% and 3.4%, respectively.

3月份的CPI数据超出了经济学家的预期，表明通胀压力令人担忧。通胀率环比上升0.4%，同比通胀率达到3.5%，分别超过预期的0.3%和3.4%。

Core CPI, excluding volatile food and energy prices, also exceeded expectations, rising by 0.4% from February and 3.8% from a year ago, compared to estimates of 0.3% and 3.7%, respectively. Notably, CPI for all items increased at an annual rate of 3.2% in March.

剔除波动较大的食品和能源价格后的核心CPI也超出预期，较2月份上涨0.4%，较去年同期上涨3.8%，而预期分别为0.3%和3.7%。值得注意的是，3月份所有项目CPI年率上涨3.2%。

The U.S. Bureau of Labor Statistics provided detailed insights into the specific components driving the CPI increase, highlighting a surge in shelter and gasoline prices. Combined, these two factors contributed to over half of the monthly increase. The energy index rose 1.1%, while the food index saw a modest 0.1% increase.

美国劳工统计局提供了有关推动消费者物价指数上涨的具体因素的详细见解，强调了住房和汽油价格的飙升。这两个因素加起来贡献了超过一半的月度增长。能源指数上涨1.1%，食品指数小幅上涨0.1%。

Fed Rate Cut Prospects Dwindle

美联储降息前景黯淡

The CPI data immediately sparked debates among market participants regarding the likelihood of the Federal Reserve lowering interest rates in the near future. The timeline for a potential rate cut has now shifted from June to later in the year.

CPI数据立即引发市场参与者关于美联储近期降息可能性的争论。潜在降息的时间表现已从六月推迟到今年晚些时候。

According to the CME's FedWatch tool, traders now assign only a 20.6% probability to a June rate cut, significantly lower than the 45.9% odds they had placed before the CPI report. This suggests that market analysts anticipate the U.S. Federal Reserve to maintain steady rates in May and June, with the possibility of a rate cut being pushed back to September.

根据 CME 的 FedWatch 工具，交易员目前认为 6 月份降息的可能性仅为 20.6%，大大低于他们在 CPI 报告之前设定的 45.9% 的可能性。这表明市场分析师预计美联储将在5月和6月维持利率稳定，降息的可能性可能推迟到9月。

Bitcoin ETF Inflows Slow, Tempering Short-Term Outlook

比特币 ETF 资金流入缓慢，短期前景有所缓和

Concurrently with the CPI-induced price decline, the tapering off of inflows into spot Bitcoin exchange-traded funds (ETFs) has dampened investor sentiment towards Bitcoin.

在消费者价格指数引发价格下跌的同时，流入现货比特币交易所交易基金（ETF）的资金逐渐减少，削弱了投资者对比特币的情绪。

On April 9th, the Grayscale Bitcoin Trust (GBTC) witnessed outflows totaling approximately $154.9 million, based on data compiled by BitMEX Research. Spot Bitcoin ETFs collectively experienced net outflows of $18.7 million, marking the second consecutive day of negative inflows.

根据 BitMEX Research 汇编的数据，4 月 9 日，灰度比特币信托基金 (GBTC) 的资金外流总额约为 1.549 亿美元。现货比特币 ETF 总计净流出 1870 万美元，连续第二天出现负流入。

BlackRock's iShares Bitcoin Trust (IBIT) attracted the highest inflow of $128.7 million. Bitwise's ETF (BITB) and Fidelity's Wise Origin Bitcoin Fund (FBTC) followed with inflows of over $3.8 million and $3 million, respectively. No other ETFs reported capital inflows on April 10th.

贝莱德的 iShares 比特币信托 (IBIT) 吸引了最高的资金流入，达 1.287 亿美元。 Bitwise 的 ETF (BITB) 和 Fidelity 的 Wise Origin 比特币基金 (FBTC) 紧随其后，资金流入分别超过 380 万美元和 300 万美元。 4 月 10 日没有其他 ETF 报告资金流入。

The slowdown in spot Bitcoin ETF inflows reflects a decline in investors' appetite for these investment products as caution grips the market. Nonetheless, anticipation remains high for a potential surge in BTC prices following the impending Bitcoin halving event, which is less than ten days away.

比特币 ETF 现货流入放缓反映出，由于市场谨慎，投资者对这些投资产品的兴趣下降。尽管如此，距离即将到来的比特币减半事件（距离减半还有不到十天），人们对比特币价格可能飙升的预期仍然很高。

Vijay Pravin Maharajan, the founder and CEO of bitsCrunch, emphasizes the significance of the upcoming halving, stating that it "could not only propel BTC to new all-time highs but also positively impact various other assets." He further expresses optimism that investors can expect a rekindling of the bull market in the latter half of Q2.

BitsCrunch 创始人兼首席执行官 Vijay Pravin Maharajan 强调了即将到来的减半的重要性，并表示它“不仅可以推动 BTC 创下历史新高，还可以对各种其他资产产生积极影响”。他进一步表示乐观，投资者预计第二季度后半段牛市将重燃。

Disclaimer: This article is provided for informational purposes only and does not constitute investment advice or recommendations. Investing involves risks, and readers should conduct their own due diligence before making investment decisions.

免责声明：本文仅供参考，不构成投资建议或建议。投资涉及风险，读者在做出投资决定之前应自行进行尽职调查。