超过预期的2月核心PCE价格指数可能使比特币（BTC）的看涨轨迹脱轨

根据经验丰富的加密分析师阿里·马丁内斯（Ali Martinez）最近的X帖子，比预期的2月核心个人消费支出（PCE）价格指数更热，可能会使比特币（BTC）的看涨轨迹脱轨。

Hotter than anticipated February Core Personal Consumption Expenditure (PCE) Price Index could derail Bitcoin's (BTC) bullish trajectory, according to seasoned crypto analyst Ali Martinez.

经验丰富的加密分析师阿里·马丁内斯（Ali Martinez）表示，比预期的2月核心个人消费支出（PCE）价格指数可能会使比特币（BTC）的看涨轨迹脱轨。

In a recent X post, Martinez said that persistent inflation may force the US Federal Reserve (Fed) to delay interest rate cuts, which may be bearish for risk-on assets.

马丁内斯（Martinez）在最近的X帖子中说，持续的通货膨胀可能会迫使美国美联储（美联储）推迟降低利率，这可能是风险耗资资产的看跌。

The US February Core PCE Price Index rose 0.4% on a month-over-month (MoM) basis, beating projections of 0.3%, Core PCE Price Index

美国二月核心PCE价格指数每月（MOM）上涨0.4％，超过0.3％的预测，核心PCE价格指数

The US February Core PCE Price Index rose 0.4% on a month-over-month (MoM) basis, beating projections of 0.3%. Similarly, on a year-over-year (YoY) basis, the inflation measure surged 2.8%, eclipsing the 2.7% estimate.

美国2月核心PCE价格指数每月（MOM）上涨0.4％，超过0.3％的预测。同样，在同比的基础上，通货膨胀量量飙升了2.8％，黯然失色2.7％的估计值。

For the uninitiated, the Fed relies on the PCE Price Index as a key inflation measure to assess price changes in consumer goods and services. Unlike the Consumer Price Index (CPI), the PCE accounts for any change in consumer behaviour patterns.

对于初学者，美联储依靠PCE价格指数作为关键通货膨胀量度来评估消费品和服务的价格变化。与消费者价格指数（CPI）不同，PCE解释了消费者行为模式的任何变化。

The PCE comprises two versions, Headline PCE and Core PCE. While the Headline PCE includes all goods and services – along with food and energy – Core PCE excludes food and energy to give the Fed a more stable measure of inflation trends.

PCE包含两个版本：标题PCE和Core PCE。尽管头条新闻包括所有商品和服务以及食品和能源，但核心PCE不包括食物和能源，使美联储更稳定地衡量通货膨胀趋势。

A higher than expected Core PCE Price Index is bearish for risk-on assets – including cryptocurrencies – as it suggests that inflation may not have completely subsided yet. As a result, the central bank may delay interest rate cuts, which could cause further pullback in BTC and other digital assets.

高于预期的核心PCE价格指数对包括加密货币在内的风险资产（包括加密货币）是看跌，因为这表明通货膨胀可能还没有完全消退。结果，中央银行可能会推迟降低利率，这可能会导致BTC和其他数字资产的进一步回调。

Meanwhile, fellow crypto analyst Michael van de Poppe noted that although the trend still appears to be upwards for BTC, it is starting to appear shaky. The analyst added:

同时，加密分析师迈克尔·范·德·波普（Michael van de Poppe）指出，尽管BTC的趋势似乎仍然是上升的，但它似乎开始摇摇欲坠。分析师补充说：

Drop sub $84K and I think we’ll see a test at $78-80K and perhaps lower before we’ll bounce back up.

下跌$ 84K，我想我们会以$ 78-80k的价格看到测试，也许在我们反弹之前降低。

Similarly, crypto analyst Rekt Capital noted that Bitcoin is once again testing its daily Relative Strength Index (RSI) downtrend. A failure to rebound from the trendline may lead to significant price decline for BTC, possibly pushing it down to the mid-$70,000 level.

同样，加密分析师Rekt Capital指出，比特币再次测试其每日相对强度指数（RSI）下降趋势。从趋势线中反弹的未反弹可能会导致BTC的价格大幅下降，可能会将其降低到70,000美元的水平。

Can Bitcoin Survive The Downtrend?

比特币可以在下降趋势中生存吗？

Following the February Core PCE Price Index data release, BTC is down 1.4% in the past 24 hours. That said, on-chain metrics and positive macroeconomic developments point toward a potential price recovery for the largest cryptocurrency by reported market cap.

在2月核心PCE价格指数数据发布之后，过去24小时内BTC下降了1.4％。也就是说，链链指标和积极的宏观经济发展表明，按报告的市值，最大的加密货币的潜在价格恢复。

For instance, the Bitcoin supply ratio on crypto exchanges recently fell to a fresh seven-year low, reinforcing the digital asset's supply scarcity narrative which may lead to a rally. Data from Santiment suggests that the BTC supply ratio on exchanges has declined to 7.53%.

例如，加密交易所的比特币供应率最近降至新鲜的七年低点，从而加强了数字资产的供应稀缺叙事，这可能导致集会。 Santiment的数据表明，交易所的BTC供应比下降到7.53％。

In addition, BTC selling pressure arising from whale wallets has finally come to a halt.

此外，鲸鱼钱包引起的BTC销售压力终于停止了。

At press time, BTC trades at $85,475, down 1.4% in the past 24 hours.

发稿时，BTC的交易价格为85,475美元，在过去24小时内下跌1.4％。