比特币突破8.1万美元，贬值对冲交易回归引关注
Bitcoin Tops $81,000 — Is the Debasement Trade Back?
Bitcoin Magazine
比特币杂志
Bitcoin Tops $81,000 — Is the Debasement Trade Back?
比特币突破81,000美元——贬值交易回归了吗？
Bitcoin soared past $81,000 for the first time since January on Monday before dropping slightly. The recent moves have market observers asking if the debasement trade is back.
周一，比特币自一月份以来首次飙升至81,000美元以上，随后略有回落。近期的走势让市场观察人士纷纷猜测，贬值交易是否卷土重来。
The biggest cryptocurrency was recently trading for $79,098 on Tuesday morning in New York after hitting $81,160 the evening before. Over a 24-hour period, the coin now sits unmoved. But zoom out seven days and it has jumped by 23%.
周二上午在纽约，这种最大的加密货币在隔夜触及81,160美元后，最新交易价为79,098美元。在24小时内，该币种价格基本持平。但若将时间拉长至七天，其涨幅已达23%。
Bitcoin has benefited from news that the Treasury would at least double the size of its liquidity-support buyback operations. The announcement last week hurt the dollar but non-yielding assets have benefited.
比特币受益于美国财政部将至少加倍其流动性支持回购操作规模的消息。上周的这一公告令美元承压，但无收益资产则从中获益。
JUST IN: $80,834 Bitcoin! pic.twitter.com/1Ouoi92RmA
最新消息：比特币80,834美元！pic.twitter.com/1Ouoi92RmA
— Bitcoin Magazine (@BitcoinMagazine) August 25, 2026
—— 比特币杂志（@BitcoinMagazine）2026年8月25日
This has some asking whether 2025’s much talked about debasement trade is back. The strategy — when investors buy an asset as a way to hedge against a currency losing value — has in the past benefited Bitcoin along with precious metals because such assets cannot be endlessly printed.
这引发了一些人的疑问：2025年备受热议的贬值交易是否已经回归。这种策略——投资者购买资产以对冲货币贬值风险——过去曾使比特币和贵金属受益，因为这类资产无法被无限印刷。
Analysts frequently touted the trade last year but following Bitcoin’s decline since October, it became less talked about as traders turned their attention to stocks related to artificial intelligence.
去年，分析师们频繁推崇这种交易，但自十月份比特币下跌以来，随着交易者将注意力转向与人工智能相关的股票，这种交易便鲜少被提及。
Though since the dollar has become increasingly weaker, Bitcoin could be attracting longer-term and “smart money” investors, market observers have said.
不过，市场观察人士表示，由于美元日益疲软，比特币可能正在吸引长期投资者和“聪明钱”的注意。
U.S. investors last week piled back into Bitcoin exchange-traded funds; the investment vehicles had their best week since October, with nearly $2 billion in inflows.
上周，美国投资者重新涌入比特币交易所交易基金；这些投资工具迎来了自十月份以来最好的一周，资金流入接近20亿美元。
Bitcoin notched a new record of $126,080 in October before the biggest liquidation event in crypto history hurt its price. It continued to dip in 2026 on negative macroeconomic headwinds and fears that the Federal Reserve would not lower interest rates.
比特币在十月份创下了126,080美元的新纪录，随后加密货币历史上最大规模的清算事件对其价格造成了打击。2026年，由于宏观经济逆风以及对美联储不会降息的担忧，比特币继续下滑。
Still, it has become increasingly less volatile and so far has suffered from its shallowest bear market, according to analysts.
尽管如此，据分析师称，比特币的波动性已日益降低，并且迄今为止经历了其最浅的熊市。
This post Bitcoin Tops $81,000 — Is the Debasement Trade Back? first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.
本文《比特币突破81,000美元——贬值交易回归了吗？》首发于比特币杂志，作者为马修·迪萨尔沃。
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