美国通货膨胀数据将乐观注入比特币和更广泛的加密货币市场

一月份，个人消费支出（PCE）通货膨胀（美联储的首选措施）恰好符合预期，至2.5％。

US inflation data has injected renewed optimism into the Bitcoin and broader cryptocurrency markets. In January, the Personal Consumption Expenditures (PCE) inflation—the Federal Reserve’s preferred measure—fell to 2.5%, precisely in line with expectations. Core PCE inflation was reported at 2.6%, also matching forecasts, marking the first decline in PCE inflation since September 2024.

美国通货膨胀数据已向比特币和更广泛的加密货币市场注入了新的乐观情绪。一月份，个人消费支出（PCE）通货膨胀（美联储的首选措施）恰好符合预期，至2.5％。据报道，核心PCE通货膨胀率为2.6％，也匹配预测，这标志着自2024年9月以来PCE通货膨胀的首次下降。

This confirms steady performance both year-over-year and month-over-month. Headline PCE remained at 2.5% YoY, while core PCE—revised from a previous 2.8% (and even 2.9% in earlier revisions) to 2.6%—represents a 30 basis point improvement. This core headline reading is the lowest YoY since August 2024, and it is notable as the first slowdown in headline PCE YoY in four months. These figures suggest that easing inflationary pressures might be gradually reshaping market sentiment.

这证实了同比和月份的稳定表现。头条PCE的同比保持2.5％，而核心PCE（从前的2.8％（甚至在早期修订中甚至2.9％）中重新定位到2.6％），有30个基点的改善。此核心标题阅读是自2024年8月以来最低的，这是四个月内PCE的首次放缓。这些数字表明，缓解通货膨胀压力可能会逐渐重塑市场情绪。

Bitcoin And Altcoins See Relief On Inflation Data

比特币和山寨币请参见通货膨胀数据的缓解

Crypto analyst BACH (@CyclesWithBach) was quick to respond on X, emphasizing the bullish nature of the data. He noted that “this core headline number is the lowest reading YoY since August 2024” and pointed to the 30bp revision as a significant improvement. Although he warned of too much optimism, he stated: “This is a BIG difference and is in fact bullish for markets! We may still see some choppy bottoming formation, but this bull ain’t over! – Credit spreads despite all this remain narrow, which is a sign that credit markets see no risk!”

加密分析师巴赫（@cycleswithbach）很快就响应X，强调了数据的看涨本质。他指出，“这个核心标题是自2024年8月以来的阅读量最低”，并指出30BP修订是一个重大改进。尽管他警告过太多乐观，但他说：“这是一个很大的差异，实际上对市场是看好的！我们可能仍然会看到一些断断续续的底层形成，但是这只公牛还没有结束！ - 信贷利差仍然狭窄，这表明信贷市场没有风险！”

Following the data release, Bitcoin recovered back above $84,000, up 3.5% since the report and about 7.5% from today’s low of $78,258. After a week in which Bitcoin suffered an 18% decline, losing $96,000, the rebound marks a clear recovery.

数据发布后，比特币恢复了84,000美元以上，自该报告以来增长了3.5％，比今天的低点78,258美元的低点恢复了约7.5％。一周后，比特币下降了18％，损失了96,000美元，反弹标志着明显的恢复。

Altcoins were similarly buoyed; Ethereum climbed 5.8%, XRP gained 9.2%, and Solana surged 16%. Notably, SOL’s rally coincides with news that the CME Group will launch Solana (SOL) futures on March 17, pending CFTC regulatory review.

AltCoins同样受到浮力；以太坊攀升了5.8％，XRP上涨了9.2％，Solana飙升了16％。值得注意的是，SOL的集会与CME集团将于3月17日推出Solana（SOL）期货的消息恰逢，等待CFTC监管审查。

Crypto analyst Kevin (@Kev_Capital_TA) also weighed in on the implications of the PCE release, remarking that “Fed CME interest rate Futures at the current moment has increased to 53.7% probability of a rate cut in June after the PCE Report. Up from below 50%. That’s solid news. #BTC #Altcoins #Crypto”

加密分析师Kevin（@KeV_Capital_TA）也对PCE版本的含义进行了权衡，他指出：“当前时刻，FED CME利率期货已增加到PCE报告后6月降低利率的53.7％。从低于50％的人提高。这是可靠的消息。 #BTC #altcoins #crypto”

Broader Macro Perspective

更广泛的宏观观点

Beyond the PCE data, broader macroeconomic signals could further support market recovery. Julien Bittel, Head of Macro Research at Global Macro Investor (GMI), shared his perspective on X. He attributes current market volatility, especially in crypto, to the tightening of financial conditions in Q4 of last year, which drained liquidity and slowed economic surprises.

除了PCE数据之外，更广泛的宏观经济信号还可以进一步支持市场恢复。全球宏观投资者（GMI）宏观研究负责人朱利安·比特尔（Julien Bittel）分享了他对X的看法。他将当前市场波动率（尤其是在加密货币）归因于去年第四季度财务状况的收紧，这消耗了流动性并减缓了经济惊喜。

But Bittel suggests that these conditions are now reversing: “Financial conditions have been easing rapidly over the past two months — dollar down, bond yields down, oil down — and that’s setting the stage for a recovery in the data soon.” He further notes that Bitcoin’s price now fully reflects the effects of recent tightening, and with an RSI at 23—the most oversold level since August 2023—he advised, “be greedy when others are fearful.”

但是比特尔认为，这些条件现在正在扭转：“在过去的两个月中，财务状况一直在迅速缓解 - 美元下跌，债券下降，加油 - 这为数据恢复奠定了基础。”他进一步指出，比特币的价格现在完全反映了最近收紧的效果，而RSI的效果为23，这是自2023年8月以来的最高水平，他建议：“当其他人害怕时，要贪婪。”

At press time, BTC traded at $83,804.

发稿时，BTC的交易价格为83,804美元。