机构洞察：CPI降温缓解市场压力，特朗普就职前加密货币案件下降

我们每周的机构洞察探讨最新的市场发展——市场表现、行业新闻、交易所交易基金 (ETF) 流向、热门话题

Our weekly Institutional Insights explores the latest market developments — market performance, industry news, exchange-traded fund (ETF) flows, trending topics, upcoming events and token unlocks — to help you supercharge your crypto trading.

我们每周的机构洞察探讨最新的市场发展——市场表现、行业新闻、交易所交易基金（ETF）流动、趋势主题、即将发生的事件和代币解锁——帮助您增强加密货币交易。

Enjoy our weekly take on the market!

享受我们每周对市场的看法！

Recent data indicated a stagnation or potential reversal in inflation progress, with a key measure of underlying price hikes — the core Consumer Price Index (CPI) — remaining unchanged for months. However, this trend shifted on Wednesday, as the Bureau of Labor Statistics reported a slowdown in the core CPI for the first time in months.

最近的数据表明通胀进展停滞或可能逆转，衡量基本价格上涨的关键指标——核心消费者价格指数（CPI）——几个月来保持不变。然而，这种趋势在周三发生了转变，美国劳工统计局报告称，核心消费者物价指数(CPI)数月来首次放缓。

The CPI, which tracks price changes for commonly purchased goods and services, showed an overall increase of 0.4% from November 2024, lifting the annual rate to 2.9%. This rise was primarily driven by surging gas and food prices, with energy costs alone contributing to 40% of the monthly increase. Food prices also remained high, impacted by weather conditions and disease affecting key staples like meat and eggs.

追踪常用商品和服务价格变化的消费者物价指数 (CPI) 较 2024 年 11 月整体上涨 0.4%，年率升至 2.9%。这一增长主要是由天然气和食品价格飙升推动的，仅能源成本就占了月度增长的 40%。受天气条件和影响肉类和鸡蛋等主要主食的疾病的影响，食品价格也居高不下。

Excluding volatility for food and energy prices, the core CPI only rose 0.2% from November, easing to 3.2% after being stuck at 3.3% since September 2024. Market reactions were positive, as traders hoped the Federal Reserve would continue its rate-cutting campaign.

剔除食品和能源价格的波动，核心CPI较11月仅上涨0.2%，自2024年9月以来一直处于3.3%的水平后回落至3.2%。市场反应积极，交易员希望美联储继续降息行动。

While inflation has slowed since peaking at 9.1% in June 2022, the journey back to normalcy has been bumpy. Everyday item prices are now 21% higher than in 2021, straining household budgets, particularly for lower-income Americans. Though wages have risen faster than inflation over the past 20 months, they still lag behind pre-pandemic levels.

尽管通胀自 2022 年 6 月达到峰值 9.1% 以来已经放缓，但恢复正常的过程却充满坎坷。目前日常用品价格比 2021 年上涨 21%，家庭预算紧张，尤其是对低收入美国人来说。尽管过去 20 个月工资增长速度快于通货膨胀，但仍低于大流行前的水平。

This latest CPI report, the last before President Biden transitions power to president-elect Trump, underscores the ongoing challenges in managing inflation, particularly for essential goods and services.

这份最新的消费者物价指数报告是拜登总统将权力移交给候任总统特朗普之前的最后一份报告，强调了管理通胀方面持续存在的挑战，特别是基本商品和服务方面的挑战。

Digital Currency Group and its subsidiary, Genesis Global Capital, reached a settlement with the Securities and Exchange Commission (SEC) on Friday, indicative of a broader trend among cryptocurrency firms resolving regulatory issues as the Biden administration approaches its conclusion.

数字货币集团及其子公司 Genesis Global Capital 于周五与美国证券交易委员会（SEC）达成和解，这表明随着拜登政府接近结论，加密货币公司解决监管问题的更广泛趋势。

Over the past week, multiple U.S. regulatory agencies — including the Commodity Futures Trading Commission (CFTC), the Justice Department and the SEC — have announced various settlements and charges across at least six cases involving digital assets, signaling a renewed focus on enforcement as the administration winds down.

过去一周，包括商品期货交易委员会（CFTC）、司法部和美国证券交易委员会在内的多个美国监管机构宣布了至少六起涉及数字资产的案件的各种和解和指控，这表明美国监管机构将重新关注执法问题。行政管理结束。

During Biden's term, more than 100 enforcement actions were filed against crypto companies, reflecting heightened scrutiny of the industry. However, with president-elect Donald Trump set to take office, there’s an expectation of a paradigm shift in regulatory approaches. Trump, once a critic of cryptocurrencies, has appointed crypto-friendly officials to key positions and intends to prioritize legislation that supports the industry.

拜登任期内，针对加密货币公司提起了 100 多项执法行动，反映出对该行业的严格审查。然而，随着当选总统唐纳德·特朗普即将就职，监管方法有望发生范式转变。特朗普曾经是加密货币的批评者，他已任命对加密货币友好的官员担任关键职务，并打算优先考虑支持该行业的立法。

For many crypto firms, settling with regulators is seen as a strategic move. Legal experts note that such settlements allow these companies to close contentious chapters and redirect their efforts in a potentially more favorable regulatory environment. Jonathan Groth, a partner at DGIM Law, commented on the implications of the incoming administration, suggesting that support for extensive enforcement actions may diminish.

对于许多加密货币公司来说，与监管机构达成和解被视为一项战略举措。法律专家指出，此类和解使这些公司能够结束有争议的章节，并在可能更有利的监管环境中重新调整其努力方向。 DGIM Law 合伙人乔纳森·格罗斯 (Jonathan Groth) 对即将上任的政府的影响发表评论，表示对广泛执法行动的支持可能会减少。

Recent high-profile cases include a $5 million fine against Gemini for regulatory violations and a $100 million penalty for BitMEX due to failures in anti-money laundering measures. Additional actions have targeted fraudulent schemes, and individuals involved in illegal cryptocurrency activities. As the regulatory landscape shifts, firms settling with agencies may be positioning themselves for a fresh start under a more accommodating regime.

最近备受瞩目的案件包括 Gemini 因违反监管规定而被罚款 500 万美元，BitMEX 因反洗钱措施失败而被罚款 1 亿美元。其他行动针对欺诈计划和参与非法加密货币活动的个人。随着监管格局的变化，与监管机构达成和解的公司可能会在更宽松的制度下为自己做好准备，以重新开始。

Other Top-Performing Tokens

其他表现最佳的代币

TokenCatalyst

Ripple (XRP)XRP surged nearly 8.5% following growing speculation about a Spot ETF and increased accumulation by large holders.

随着对现货 ETF 的猜测不断增加以及大持有者增持，瑞波币 (XRP)XRP 飙升近 8.5%。

Aave (AAVE)AAVE surged 4.3% after announcing Aave and GHO's expansion across networks for broader integration.

Aave (AAVE) 在宣布 Aave 和 GHO 跨网络扩张以实现更广泛的整合后，AAVE 股价飙升 4.3%。

Hyperliquid (HYPE)HYPE surged 9.4% following Hyperliquid's partnership with ANIME to launch a decentralized anime ecosystem.

Hyperliquid (HYPE) 在 Hyperliquid 与 ANIME 合作推出去中心化动漫生态系统后，HYPE 飙升 9.4%。