{"id":207381,"date":"2025-11-06T06:24:50","date_gmt":"2025-11-06T06:24:50","guid":{"rendered":"https:\/\/cryptonews.com\/cn\/?p=207381"},"modified":"2025-11-06T06:24:30","modified_gmt":"2025-11-06T06:24:30","slug":"arthur-hayes-reiterates-monetary-policy-is-the-true-driving-force-behind-bitcoin","status":"publish","type":"post","link":"https:\/\/cryptonews.com\/cn\/news\/arthur-hayes-reiterates-monetary-policy-is-the-true-driving-force-behind-bitcoin\/","title":{"rendered":"Arthur Hayes\u91cd\u7533\u8d27\u5e01\u653f\u7b56\u624d\u662f\u63a8\u52a8\u6bd4\u7279\u5e01\u7684\u771f\u6b63\u529b\u91cf"},"content":{"rendered":"<p class=\"wp-block-paragraph\">BitMEX \u8054\u5408\u521b\u529e\u4eba Arthur Hayes \u4e8e 11 \u6708 4 \u65e5\u8868\u793a\uff0c\u5728\u7f8e\u56fd\u653f\u5e9c\u5173\u95e8\u5371\u673a\u7ed3\u675f\u540e\uff0c\u7f8e\u8054\u50a8\uff08Fed\uff09\u5c06\u542f\u52a8\u201c\u9690\u5f62\u91cf\u5316\u5bbd\u677e\uff08stealth QE\uff09\u201d\uff0c\u7531\u6b64\u5c06\u5f15\u53d1\u6bd4\u7279\u5e01\uff08BTC\uff09\u65b0\u4e00\u8f6e\u725b\u5e02\uff0c\u540c\u65f6\u4e5f\u6307\u51fa\u4e2d\u56fd\u4e5f\u5728\u540c\u6b65\u201c\u5370\u949e\u201d\uff0c\u7686\u6709\u52a9\u5e02\u573a\u83b7\u5f97\u4e0a\u6da8\u52a8\u80fd\u3002<\/p><figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">\u4f60\u597dPBOC , welcome to the money printing jamboree. <a href=\"https:\/\/t.co\/Q1iLKrd7lq\">pic.twitter.com\/Q1iLKrd7lq<\/a><\/p>&mdash; Arthur Hayes (@CryptoHayes) <a href=\"https:\/\/twitter.com\/CryptoHayes\/status\/1985664230104698970?ref_src=twsrc%5Etfw\">November 4, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure><p class=\"wp-block-paragraph\">\u4ed6\u6307\u51fa\uff0c\u76ee\u524d\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u7684\u75b2\u5f31\uff0c\u4e3b\u8981\u662f\u7531\u4e8e\u7f8e\u56fd\u8d22\u653f\u90e8\u4e00\u822c\u8d26\u6237\uff08TGA\uff09\u5728\u653f\u5e9c\u5173\u95e8\u671f\u95f4\u7ef4\u6301\u9ad8\u4f59\u989d\u3001\u5438\u8d70\u4e86\u5e02\u573a\u6d41\u52a8\u6027\uff1b\u4e00\u65e6\u60c5\u51b5\u7f13\u89e3\uff0c\u5e02\u573a\u73af\u5883\u5c06\u4f1a\u9aa4\u7136\u53cd\u8f6c\u3002<\/p><p class=\"wp-block-paragraph\">Hayes \u8ba4\u4e3a\uff0c\u901a\u8fc7\u201c\u5e38\u8bbe\u56de\u8d2d\u4fbf\u5229\u5de5\u5177\uff08Standing Repo Facility, SRF\uff09\u201d\u5b9e\u65bd\u7684\u5b9e\u8d28\u6027\u91cf\u5316\u5bbd\u677e\uff0c\u5c06\u6269\u5927\u7f8e\u5143\u4f9b\u5e94\uff0c\u4ece\u800c\u63a8\u52a8\u6bd4\u7279\u5e01\u4ef7\u683c\u4e0a\u5347\u3002<\/p><h2 class=\"wp-block-heading\">\u77ed\u671f\u6d41\u52a8\u6027\u67af\u7aed\u6216\u5f15\u53d1\u5e02\u573a\u52a8\u8361<\/h2><span class=\"replacer\"><\/span><figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">&quot;Hallelujah&quot; is an essay that describes how the Fed&#39;s Standing Repo Facility will usher in stealth QE.<a href=\"https:\/\/t.co\/wsBC4zrqFg\">https:\/\/t.co\/wsBC4zrqFg<\/a> <a href=\"https:\/\/t.co\/c0HqUvxtPW\">pic.twitter.com\/c0HqUvxtPW<\/a><\/p>&mdash; Arthur Hayes (@CryptoHayes) <a href=\"https:\/\/twitter.com\/CryptoHayes\/status\/1985597060217754030?ref_src=twsrc%5Etfw\">November 4, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure><p class=\"wp-block-paragraph\">Hayes \u6307\u51fa\uff0c\u7f8e\u56fd\u8d22\u653f\u90e8\u4e00\u822c\u8d26\u6237\u5f53\u524d\u4f59\u989d\u8f83\u76ee\u6807\u6c34\u5e73 8,500 \u4ebf\u7f8e\u5143 \u9ad8\u51fa\u7ea6 1,500 \u4ebf\u7f8e\u5143\uff0c\u8fd9\u662f\u5bfc\u81f4\u52a0\u5bc6\u5e02\u573a\u8d70\u5f31\u7684\u4e3b\u56e0\u4e4b\u4e00\u3002<\/p><p class=\"wp-block-paragraph\">\u4ed6\u8b66\u544a\u79f0\uff1a\u201c\u5728\u9690\u5f62\u91cf\u5316\u5bbd\u677e\u6b63\u5f0f\u542f\u52a8\u4e4b\u524d\uff0c\u6295\u8d44\u8005\u9700\u8981\u4fdd\u5b58\u8d44\u672c\u2014\u2014\u5e02\u573a\u53ef\u80fd\u4f1a\u975e\u5e38\u52a8\u8361\u3002\u201d<\/p><p class=\"wp-block-paragraph\">\u4ed6\u63d0\u9192\uff0c\u5f53\u524d\u9636\u6bb5\u4e0e \u6bd4\u7279\u5e01 2021 \u5e74 11 \u6708\u521b\u4e0b\u5386\u53f2\u9ad8\u70b9 \u76f8\u9694\u8fd1\u56db\u5e74\uff0c\u4e00\u4e9b\u6295\u8d44\u8005\u53ef\u80fd\u8bef\u4ee5\u4e3a\u5e02\u573a\u5df2\u89e6\u9876\u800c\u629b\u552e\u8d44\u4ea7\uff0c\u8fd9\u662f\u5224\u65ad\u5931\u8bef\u3002<\/p><p class=\"wp-block-paragraph\">\u201c\u771f\u6b63\u51b3\u5b9a\u5e02\u573a\u65b9\u5411\u7684\uff0c\u662f\u6d41\u52a8\u6027\u53d8\u5316\uff0c\u201d\u4ed6\u5f3a\u8c03\u3002<\/p><h2 class=\"wp-block-heading\">\u5e38\u8bbe\u56de\u8d2d\u673a\u5236\u6216\u6210\u4e3a\u89e6\u53d1\u70b9<\/h2><span class=\"replacer\"><\/span><p class=\"wp-block-paragraph\">Hayes \u6307\u51fa\uff0c\u7f8e\u56fd\u8d22\u653f\u8d64\u5b57\u5df2\u8fbe 2 \u4e07\u4ebf\u7f8e\u5143\/\u5e74\uff0c\u5e76\u4f9d\u9760\u7b49\u989d\u56fd\u503a\u53d1\u884c\u878d\u8d44\u3002\u7136\u800c\uff0c\u81ea 2022 \u5e74\u4fc4\u56fd\u8d44\u4ea7\u88ab\u51bb\u7ed3\u4e8b\u4ef6 \u540e\uff0c\u5916\u56fd\u592e\u884c\u5f00\u59cb\u504f\u597d\u6301\u6709\u9ec4\u91d1\u800c\u975e\u7f8e\u503a\uff1b\u540c\u65f6\uff0c\u7f8e\u56fd\u5c45\u6c11\u50a8\u84c4\u7387\u4ec5 4.6%\uff0c\u56db\u5927\u5546\u4e1a\u94f6\u884c\u5728 2025 \u8d22\u5e74\u9884\u8ba1\u4ec5\u8d2d\u5165\u7ea6 3,000 \u4ebf\u7f8e\u5143\u56fd\u503a\u3002<\/p><p class=\"wp-block-paragraph\">\u4ed6\u8868\u793a\uff0c\u76ee\u524d\u5e02\u573a\u4e0a\u552f\u4e00\u7684\u201c\u8fb9\u9645\u4e70\u5bb6\u201d\u662f\u8bbe\u5728\u5f00\u66fc\u7fa4\u5c9b\u7684\u76f8\u5bf9\u4ef7\u503c\u578b\u5bf9\u51b2\u57fa\u91d1\uff0c\u8fd9\u4e9b\u57fa\u91d1\u901a\u8fc7\u56de\u8d2d\u5e02\u573a\uff08repo market\uff09 \u501f\u94b1\u8d2d\u4e70\u56fd\u503a\uff0c\u800c\u5f53\u73b0\u91d1\u4f9b\u5e94\u7d27\u7f29\u65f6\uff0c\u7f8e\u8054\u50a8\u4fbf\u4f1a\u901a\u8fc7 SRF \u63d0\u4f9b\u8d44\u91d1\u3002<\/p><p class=\"wp-block-paragraph\">Hayes \u5c06\u6b64\u79f0\u4e3a\u201c\u9690\u5f62\u91cf\u5316\u5bbd\u677e\u201d\uff0c\u8ba4\u4e3a SRF \u89c4\u6a21\u7684\u6269\u5927\u4f1a\u589e\u52a0\u5168\u7403\u7f8e\u5143\u6d41\u52a8\u6027\u3002<\/p><p class=\"wp-block-paragraph\">\u4ed6\u603b\u7ed3\u9053\uff1a\u201c\u53ea\u8981\u7f8e\u8054\u50a8\u8d44\u4ea7\u8d1f\u503a\u8868\u6269\u5f20\uff0c\u7f8e\u5143\u6d41\u52a8\u6027\u5c31\u4f1a\u4e0a\u5347\uff0c\u6700\u7ec8\u5c06\u63a8\u9ad8\u6bd4\u7279\u5e01\u4e0e\u5176\u4ed6\u52a0\u5bc6\u8d44\u4ea7\u4ef7\u683c\u3002\u201d<\/p><p class=\"wp-block-paragraph\">Hayes \u8fd8\u5f3a\u8c03\uff0c\u7f8e\u56fd\u653f\u5e9c\u7684\u503a\u52a1\u53d1\u884c\u89c4\u6a21\u5b9e\u9645\u4e0a\u7b49\u540c\u4e8e\u7f8e\u5143\u4f9b\u5e94\u91cf\u7684\u589e\u957f\u3002\u4ed6\u6b64\u524d\u66fe\u9884\u6d4b\uff0c\u6bd4\u7279\u5e01\u5c06\u5728 2025 \u5e74\u5e95\u6709\u671b\u8fbe\u5230 25 \u4e07\u7f8e\u5143\uff0c\u5e76\u518d\u6b21\u91cd\u7533\u201c\u8d27\u5e01\u653f\u7b56\u624d\u662f\u63a8\u52a8\u6bd4\u7279\u5e01\u7684\u771f\u6b63\u529b\u91cf\u201d\u3002<\/p><h2 class=\"wp-block-heading\" id=\"block-a528a3e5-deb6-4d0c-a87f-cea951064ff6\">Bitcoin Hyper\uff1a\u6bd4\u7279\u5e01\u5728Solana\u4e0a\u7684\u4e0b\u4e00\u6b21\u8fdb\u5316\uff1f<\/h2><span class=\"replacer\"><\/span><p class=\"wp-block-paragraph\" id=\"block-9de95a68-1c45-4244-8dde-ffe6dd4c01a2\"><a href=\"https:\/\/bitcoinhyper.com\/zh-hans\">Bitcoin Hyper\uff08$HYPER\uff09<\/a>\u6b63\u4e3a\u6bd4\u7279\u5e01\u751f\u6001\u7cfb\u7edf\u5e26\u6765\u5168\u65b0\u7684\u9636\u6bb5\u3002\u867d\u7136BTC\u4f9d\u7136\u662f\u5b89\u5168\u6027\u7684\u9ec4\u91d1\u6807\u51c6\uff0c\u4f46Bitcoin Hyper\u8865\u4e0a\u4e86\u5b83\u957f\u671f\u7f3a\u4e4f\u7684\u5173\u952e\u8981\u7d20\u2014\u2014Solana\u7ea7\u522b\u7684\u901f\u5ea6\u3002<\/p><p class=\"wp-block-paragraph\" id=\"block-870d246b-33e5-4bf5-840d-8e38d1a72bc8\">\u4f5c\u4e3a\u9996\u4e2a\u7531Solana\u865a\u62df\u673a\uff08SVM\uff09\u9a71\u52a8\u7684\u6bd4\u7279\u5e01\u539f\u751fLayer2\u7f51\u7edc\uff0c<a href=\"https:\/\/cryptonews.com\/cn\/cryptocurrency\/bitcoin-hyper-price-prediction\/\">Bitcoin Hyper<\/a>\u5c06\u6bd4\u7279\u5e01\u7684\u7a33\u5b9a\u6027\u4e0eSolana\u7684\u9ad8\u6027\u80fd\u67b6\u6784\u878d\u5408\u5728\u4e00\u8d77\u3002\u5176\u6210\u679c\u662f\uff1a\u95ea\u7535\u822c\u5feb\u901f\u3001\u6210\u672c\u6781\u4f4e\u7684\u667a\u80fd\u5408\u7ea6\u3001\u53bb\u4e2d\u5fc3\u5316\u5e94\u7528\uff0c\u751a\u81f3\u8ff7\u56e0\u5e01\u521b\u5efa\u529f\u80fd\uff0c\u5168\u90e8\u7531\u6bd4\u7279\u5e01\u7f51\u7edc\u6240\u4fdd\u969c\u5b89\u5168\u3002<\/p><figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"642\" src=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/11\/2025\/11\/03044129\/31-1024x642.jpg\" alt=\"\" class=\"wp-image-207099\" srcset=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/11\/2025\/11\/03044129\/31-1024x642.jpg 1024w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/11\/2025\/11\/03044129\/31-300x188.jpg 300w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/11\/2025\/11\/03044129\/31-768x481.jpg 768w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/11\/2025\/11\/03044129\/31-1536x963.jpg 1536w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/11\/2025\/11\/03044129\/31-2048x1283.jpg 2048w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/11\/2025\/11\/03044129\/31-450x282.jpg 450w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"><figcaption class=\"wp-element-caption\">Screenshot<\/figcaption><\/figure><p class=\"wp-block-paragraph\" id=\"block-104941f4-f379-4b64-95fe-30b8f03e58be\">\u7531Consult\u5b8c\u6210\u5ba1\u8ba1\uff0c\u8be5\u9879\u76ee\u5728\u63a8\u5e7f\u9636\u6bb5\u5f3a\u8c03\u4fe1\u4efb\u4e0e\u53ef\u6269\u5c55\u6027\uff0c\u76ee\u524d\u52bf\u5934\u5df2\u76f8\u5f53\u5f3a\u52b2\u3002\u5176\u9884\u552e\u91d1\u989d\u5df2\u7a81\u78342550\u4e07\u7f8e\u5143\uff0c\u4ee3\u5e01\u4ef7\u683c\u4ec5\u4e3a0.013205\u7f8e\u5143\uff0c\u4e14\u5373\u5c06\u8fce\u6765\u4e0b\u4e00\u6b21\u4ef7\u683c\u4e0a\u8c03\u3002<\/p><p class=\"wp-block-paragraph\" id=\"block-104941f4-f379-4b64-95fe-30b8f03e58be\">\u968f\u7740\u6bd4\u7279\u5e01\u94fe\u4e0a\u6d3b\u52a8\u589e\u52a0\u4ee5\u53ca\u5bf9\u9ad8\u6548BTC\u751f\u6001\u5e94\u7528\u7684\u9700\u6c42\u4e0d\u65ad\u4e0a\u5347\uff0cBitcoin Hyper\u6210\u4e3a\u8fde\u63a5\u4e24\u5927\u52a0\u5bc6\u751f\u6001\u7cfb\u7edf\u7684\u91cd\u8981\u6865\u6881\u3002\u5982\u679c\u8bf4\u6bd4\u7279\u5e01\u5960\u5b9a\u4e86\u57fa\u7840\uff0c\u90a3\u4e48Bitcoin Hyper\u6b63\u8ba9\u8fd9\u4e00\u57fa\u7840\u53d8\u5f97\u66f4\u5feb\u901f\u3001\u66f4\u7075\u6d3b\uff0c\u4e5f\u66f4\u5177\u8da3\u5473\u6027\u3002<\/p><a href=\"https:\/\/cryptonews.com\/cn\/ext\/btchyper-cn\/\" target=\"_blank\" class=\"cta-content-button\" rel=\"sponsored nofollow\">\u70b9\u51fb\u6b64\u5904\u53c2\u4e0e\u9884\u552e<\/a><p class=\"wp-block-paragraph\" id=\"block-0c40d524-14aa-4b2a-be85-cfb1832c6861\"><\/p>","protected":false},"excerpt":{"rendered":"<p>BitMEX \u8054\u5408\u521b\u529e\u4eba Arthur Hayes \u4e8e 11 \u6708 4 \u65e5\u8868\u793a\uff0c\u5728\u7f8e\u56fd\u653f\u5e9c\u5173\u95e8\u5371\u673a\u7ed3\u675f\u540e\uff0c\u7f8e\u8054\u50a8 [&hellip;]<\/p>\n","protected":false},"author":308,"featured_media":207382,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[69],"editors":[1080],"sponsored_companies":[],"class_list":["post-207381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bi-te-bi","editors-allen-li"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Arthur Hayes\u91cd\u7533\u8d27\u5e01\u653f\u7b56\u624d\u662f\u63a8\u52a8\u6bd4\u7279\u5e01\u7684\u771f\u6b63\u529b\u91cf<\/title>\n<meta name=\"description\" content=\"BitMEX \u8054\u5408\u521b\u529e\u4eba Arthur Hayes \u4e8e 11 \u6708 4 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