美国的通货膨胀仍然比预期的要高 - 这可能会给比特币带来麻烦

根据最近的数据，美国的通货膨胀仍比预期的要比预期的要比预期的要高 - 这可能在短期内为比特币带来麻烦

Inflation in the U.S. is still running hotter than expected — and that might spell trouble for Bitcoin in the short term, according to recent data from the U.S. Bureau of Economic Analysis.

根据美国经济分析局的最新数据，美国的通货膨胀仍比预期的要比预期的要高。

The data focuses on something called the Personal Consumption Expenditures (PCE) Price Index, which tracks how much prices are rising for goods and services people actually buy. It’s one of the Federal Reserve’s preferred tools for measuring inflation.

数据侧重于称为个人消费支出（PCE）价格指数，该指数跟踪人们实际购买的商品和服务的价格上涨。这是美联储衡量通货膨胀的首选工具之一。

In February 2025, personal income (how much Americans are earning) rose 0.8%, and disposable income (how much people have left to spend or save after taxes) increased 0.9%.

在2025年2月，个人收入（美国人的收入数量）上涨了0.8％，可支配收入（税后剩下多少钱或节省）增加了0.9％。

Meanwhile, PCE went up 0.4% in a month — a sign that inflation hasn’t cooled off much.

同时，PCE一个月内增长了0.4％，这表明通货膨胀并没有太多冷却。

Even more important is Core PCE, which strips out food and energy prices because they’re so volatile. Core PCE rose 0.4% in February and 2.8% over the past year — just above the expected 2.7%.

更重要的是核心PCE，因为它们是如此波动，因此剥夺了食品和能源价格。核心PCE在2月份上涨了0.4％，在过去一年中增长了2.8％，略高于预期的2.7％。

Crypto analyst Ali Martinez warned that this “sticky” inflation could delay interest rate cuts from the Federal Reserve. That’s a big deal because lower rates tend to boost markets — especially risk assets like Bitcoin.

加密分析师阿里·马丁内斯（Ali Martinez）警告说，这种“粘性”通货膨胀可能会延迟美联储降低的利率。这很重要，因为较低的利率倾向于提高市场，尤其是像比特币这样的风险资产。

He warned in his post on X, saying, "February PCE came in as expected at 2.5%, but Core PCE slightly beat at 2.8% vs 2.7% forecast. Sticky inflation could delay rate cuts — not ideal for risk assets like #Bitcoin, which benefit from looser policy."

他在X上的帖子中警告说：“ 2月PCE的预期为2.5％，但核心PCE以2.8％而略微击败2.8％，而2.7％的预测。粘性通货膨胀可能会降低降低利率，这对于#BitCoin等风险资产而言并不理想。

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Token2049迪拜随着加密货币的大人物的启动而近乎售罄

Analyst says 'sticky inflation' could be bad for Bitcoin

分析师说，“粘性通货膨胀”可能对比特币不利

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自由兰10：自由主义者治理和创新十年

In other words, if inflation stays high, the Fed may hold off on cutting interest rates — and that could hurt Bitcoin’s momentum.

换句话说，如果通货膨胀率很高，美联储可能会阻止降低利率 - 这可能会伤害比特币的势头。

In prior cycles, tighter monetary policy has typically dried up liquidity, resulting in a reduced appetite for risk assets. As of publication, Bitcoin is changing hands for $85,408.12, down by 0.67%, according to Kraken's price feed.

在先前的周期中，更严格的货币政策通常会干燥流动性，从而减少了风险资产的需求。根据Kraken的价格提要，截至出版时，比特币以85,408.12美元的价格易手，下降了0.67％。

Market Cycle of Bitcoin. Source: Ali Martinez

比特币的市场周期。资料来源：阿里·马丁内斯（Ali Martinez）

Ali also posted a chart overlaying Bitcoin's price action on the classic "Psychology of a Market Cycle." The chart positions Bitcoin furthest in the 'Denial phase'—out of the euphoria range but not extending to a potential deeper correction.

阿里还发布了一张图表，将比特币的价格动作覆盖了经典的“市场周期心理学”。该图将比特币定位在“拒绝阶段”中 - 对欣快感范围的限制，但并未扩展到潜在的更深层校正。

Another crypto analyst Lark Davis,, said, "Better days will come!" hinting at the current bearish trend in the crypto market.

另一位加密分析师拉克·戴维斯（Lark Davis）说：“更好的日子将会到来！”暗示加密市场当前的看跌趋势。

Any future Federal Reserve moves on interest rates could hinge on how inflation trends play out in the coming months. Economic data releases ahead, particularly for Bitcoin—which often decides the crypto market sentiment— may offer additional context to price.

未来的美联储提高利率的任何转移都可以取决于未来几个月的通货膨胀趋势如何发挥。经济数据发布了，特别是对于比特币（通常决定加密市场情绪）的比特币可能会为价格提供额外的背景。