{"id":209639,"date":"2025-12-12T13:12:16","date_gmt":"2025-12-12T13:12:16","guid":{"rendered":"https:\/\/cryptonews.com\/cn\/?p=209639"},"modified":"2025-12-12T12:57:52","modified_gmt":"2025-12-12T12:57:52","slug":"fidelity-bitcoin-cycle-mature","status":"publish","type":"post","link":"https:\/\/cryptonews.com\/cn\/news\/fidelity-bitcoin-cycle-mature\/","title":{"rendered":"\u5bcc\u8fbe\uff1a\u6bd4\u7279\u5e01\u5468\u671f\u8d8b\u6210\u719f \u4e0a\u5347\u5468\u671f\u66f4\u957f \u672c\u8f6e\u725b\u5e02\u9ad8\u5cf0\u6216\u8fbe15\u4e07\u7f8e\u5143"},"content":{"rendered":"<p>\u6700\u8fd1\u7684\u6bd4\u7279\u5e01\u662f\u5426\u8fdb\u5165\u56db\u5e74\u5468\u671f\u8ba8\u8bba\uff0c\u5e02\u573a\u6709\u4e0d\u540c\u5206\u6790\u89c2\u70b9\uff0c\u5bcc\u8fbe\u5168\u7403\u5b8f\u89c2\u603b\u76d1Jurrien Timmer\u5219\u4ee5\u5b8f\u89c2\u89d2\u5ea6\uff0c\u5206\u6790\u6bd4\u7279\u5e01\u81ea\u8bde\u751f\u4ee5\u6765\u5404\u4e2a\u5468\u671f\u6ce2\u6d6a\u7ed3\u6784\uff0c\u8ba4\u4e3a\u76ee\u524d\u8fd9\u4e00\u8f6e\u725b\u5e02\u5df2\u5448\u73b0\u6210\u719f\u8ff9\u8c61\uff0c\u76f8\u4fe1\u9ad8\u5cf0\u503c\u53ef\u4ee5\u8fbe\u523015.136\u4e07\u7f8e\u5143\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\">For now, the market is approaching year-end with strong earnings momentum, a better sentiment backdrop following the palate-cleansing of speculative excesses, an accommodative Fed, and a quiet bond and currency market.\u00a0It\u2019s not a bad way to end the year!<br><br>Bitcoin: fun with math\u2026 <a href=\"https:\/\/t.co\/KmCYn9Crfi\">pic.twitter.com\/KmCYn9Crfi<\/a><\/p>&mdash; Jurrien Timmer (@TimmerFidelity) <a href=\"https:\/\/twitter.com\/TimmerFidelity\/status\/1999147162425536948?ref_src=twsrc%5Etfw\">December 11, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure><p>Timmer\u5728\u6700\u65b0\u62a5\u544a\u4e2d\u5206\u6790\u6bd4\u7279\u5e01\u6210\u957f\u5468\u671f\u7684\u6ce2\u6d6a\u7ed3\u6784\uff0c\u53cd\u6620\u6bd4\u7279\u5e01\u5728\u6bcf\u4e2a\u4e0a\u5347\u5468\u671f\u7684\u5e45\u5ea6\u867d\u7136\u8f83\u5bf9\u4e0a\u4e00\u6b21\u9010\u6b65\u7f29\u5c0f\uff0c\u4f46\u6301\u7eed\u65f6\u95f4\u5219\u66f4\u957f\uff0c\u4ee5\u5bf9\u4e0a\u4e00\u4e2a\u4e0a\u5347\u5468\u671f\uff08\u7b2c\u56db\u4e2a\u5347\u6d6a\uff09\u4e3a\u4f8b\uff0c\u6bd4\u7279\u5e01\u81ea\u8c37\u5e95\u5347\u81f3\u9ad8\u5cf0\u503c\u7ecf\u5386153\u5468\uff0c\u4e0a\u5347\u5e45\u5ea6\u4e3a20\u500d\uff0c\u6bd4\u7279\u5e01\u76ee\u524d\u5219\u5904\u4e8e\u7b2c\u4e94\u4e2a\u5347\u6d6a\uff0c\u9884\u8ba1\u53ef\u80fd\u5728160\u5468\u5185\u4e0a\u53479\u500d\uff0c\u8fd9\u4e00\u8f6e\u7684\u5347\u6d6a\u59cb\u4e8e2022\u5e74\u768416,603\u7f8e\u5143\u4f4e\u70b9\uff0c\u4f30\u8ba1\u9ad8\u5cf0\u503c\u53ef\u80fd\u8fbe\u5230151,360\u7f8e\u5143\u3002<\/p><figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"885\" height=\"504\" src=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/11\/2025\/12\/12130014\/G7whNL-XkAAcLtS.png\" alt=\"\" class=\"wp-image-209640\" srcset=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/11\/2025\/12\/12130014\/G7whNL-XkAAcLtS.png 885w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/11\/2025\/12\/12130014\/G7whNL-XkAAcLtS-300x171.png 300w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/11\/2025\/12\/12130014\/G7whNL-XkAAcLtS-768x437.png 768w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/11\/2025\/12\/12130014\/G7whNL-XkAAcLtS-450x256.png 450w\" sizes=\"auto, (max-width: 885px) 100vw, 885px\"><figcaption class=\"wp-element-caption\">\u56fe\u7247\u6765\u6e90\uff1a\u5bcc\u8fbe<\/figcaption><\/figure><p>\u4e0d\u8fc7\uff0cTimmer\u4e5f\u8ba4\u4e3a\uff0c\u8981\u5224\u65ad\u6bd4\u7279\u5e01\u7684\u5bd2\u51ac\u671f\u662f\u5426\u6765\u4e34\u5e76\u4e0d\u5bb9\u6613\uff0c\u4f46\u6bd4\u7279\u5e01\u7684\u6ce2\u6d6a\u7ed3\u6784\u5df2\u663e\u73b0\u6210\u719f\u8ff9\u8c61\uff0c \u77ed\u671f\u5185\u5bf9\u6bd4\u7279\u5e01\u8868\u73b0\u4ecd\u6301\u4e50\u89c2\u6001\u5ea6\uff0c\u867d\u7136\u6ce2\u6d6a\u7ed3\u6784\u6a21\u5f0f\u65e0\u6cd5\u51c6\u786e\u5224\u5b9a\u7b2c\u516d\u6d6a\u7684\u8d77\u70b9\uff0c\u4f46Timmer\u8ba4\u4e3a\uff0c\u5728\u76ee\u524d\u7684\u5468\u671f\u5e95\u90e8\uff0880,554\u7f8e\u5143\uff09\u5b58\u5728\u652f\u6301\uff0c\u5bf92026\u5e74\u5f00\u5c40\u76f8\u5bf9\u4e50\u89c2\u3002<\/p><h2 class=\"wp-block-heading\">\u51cf\u606f\u5f15\u53d1\u77ed\u671f\u5229\u6de1<\/h2><span class=\"replacer\"><\/span><p>\u4e0d\u8fc7\uff0c\u5728\u4eca\u6b21\u51cf\u606f\u540e\uff0c\u6bd4\u7279\u5e01\u7684\u8868\u73b0\u5374\u843d\u540e\u4e8e\u80a1\u5e02\uff0c\u5bf9\u4e8e\u8fd9\u4e2a\u73b0\u8c61\uff0c\u94fe\u4e0a\u5206\u6790\u516c\u53f8Santiment\u8ba4\u4e3a\uff0c\u4ee5\u5f80\u51cf\u606f\u786e\u8ba4\u65f6\uff0c\u901a\u5e38\u4f1a\u51fa\u73b0\u300c\u4e70\u4f20\u95fb\u3001\u5356\u4e8b\u5b9e\u300d\u7684\u6548\u5e94\uff0c\u672c\u5e94\u5229\u597d\u7684\u6d88\u606f\u53cd\u800c\u5f15\u53d1\u77ed\u671f\u5229\u6de1\uff0c\u56e0\u4e3a\u5927\u6237\u8d81\u51cf\u606f\u6d88\u606f\u51fa\u552e\u6301\u8d27\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\">\ud83c\uddfa\ud83c\uddf8 The US Fed made three strategic cuts over the past 3 months, resulting in a total of an 0.75% reduction to interest rates.<br><br>1\u20e3 September 17, 2025: Fed lowered the target range to 4.00 %\u20134.25 % (from 4.25 %+) at the 16\u201317 Sep meeting. <br><br>2\u20e3 October 29, 2025: Fed cut the rate to\u2026 <a href=\"https:\/\/t.co\/X6DWypvq5t\">pic.twitter.com\/X6DWypvq5t<\/a><\/p>&mdash; Santiment (@santimentfeed) <a href=\"https:\/\/twitter.com\/santimentfeed\/status\/1999164907653145069?ref_src=twsrc%5Etfw\">December 11, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure><h2 class=\"wp-block-heading\">\u5c18\u57c3\u843d\u5b9a\u901a\u5e38\u4f1a\u53cd\u5f39<\/h2><span class=\"replacer\"><\/span><p>Santiment\u6307\u51fa\uff0c\u5386\u53f2\u7ecf\u9a8c\u770b\uff0c\u5f53\u5b8f\u89c2\u8d8b\u52bf\u8f6c\u53d8\u65f6\uff0c<a href=\"https:\/\/cryptonews.com\/cn\/cryptocurrency\/best-crypto-to-buy\/\">\u52a0\u5bc6\u8d27\u5e01<\/a>\u7684\u53cd\u5e94\u5f80\u5f80\u5c5e\u4e8e\u80a1\u7968\u6216\u5927\u5b97\u5546\u54c1\uff0c\u5c24\u5176\u5728\u957f\u671f\u4e0d\u786e\u5b9a\u6027\u540e\uff0c\u4f46\u5c18\u57c3\u843d\u5b9a\u540e\u901a\u5e38\u4f1a\u51fa\u73b0\u53cd\u5f39\uff0c\u76f8\u4fe1\u4eca\u6b21\u964d\u606f\u4ea6\u4e0d\u4f8b\u5916\u3002\u5982\u4eca\u7f8e\u8054\u50a8\u63d0\u4f9b\u66f4\u660e\u786e\u65b9\u5411\u5e76\u7f13\u89e3\u6d41\u52a8\u6027\u538b\u529b\uff0c\u6295\u8d44\u8005\u53ef\u80fd\u66f4\u613f\u610f\u56de\u6d41\u98ce\u9669\u8d44\u4ea7\uff0c\u4f46\u9700\u7559\u610f\u8f7b\u5fae\u6050\u614c\u60c5\u7eea\u6216\u6563\u6237\u629b\u552e\u8ff9\u8c61\uff0c\u4ee5\u786e\u8ba4\u964d\u606f\u540e\u7684\u6e29\u548c\u56de\u8c03\u5df2\u544a\u7ec8\u7ed3\u3002<\/p><p><\/p>","protected":false},"excerpt":{"rendered":"<p>\u6700\u8fd1\u7684\u6bd4\u7279\u5e01\u662f\u5426\u8fdb\u5165\u56db\u5e74\u5468\u671f\u8ba8\u8bba\uff0c\u5e02\u573a\u6709\u4e0d\u540c\u5206\u6790\u89c2\u70b9\uff0c\u5bcc\u8fbe\u5168\u7403\u5b8f\u89c2\u603b\u76d1Jurrien Timmer\u5219\u4ee5\u5b8f\u89c2\u89d2\u5ea6\uff0c\u5206\u6790\u6bd4\u7279\u5e01\u81ea\u8bde\u751f\u4ee5\u6765\u5404\u4e2a\u5468\u671f\u6ce2\u6d6a\u7ed3\u6784\uff0c\u8ba4\u4e3a\u76ee\u524d\u8fd9\u4e00\u8f6e\u725b\u5e02\u5df2\u5448\u73b0\u6210\u719f\u8ff9\u8c61\uff0c\u76f8\u4fe1\u9ad8\u5cf0\u503c\u53ef\u4ee5\u8fbe\u523015.136\u4e07\u7f8e\u5143\u3002Timmer\u5728\u6700\u65b0\u62a5\u544a\u4e2d\u5206\u6790\u6bd4\u7279\u5e01\u6210\u957f\u5468\u671f\u7684\u6ce2\u6d6a\u7ed3\u6784\uff0c\u53cd\u6620\u6bd4\u7279\u5e01\u5728\u6bcf\u4e2a\u4e0a\u5347\u5468\u671f\u7684\u5e45\u5ea6\u867d\u7136\u8f83\u5bf9\u4e0a\u4e00\u6b21\u9010\u6b65\u7f29\u5c0f\uff0c\u4f46\u6301\u7eed\u65f6\u95f4\u5219\u66f4\u957f\uff0c\u4ee5\u5bf9\u4e0a\u4e00\u4e2a\u4e0a\u5347\u5468\u671f\uff08\u7b2c\u56db\u4e2a\u5347\u6d6a\uff09\u4e3a\u4f8b\uff0c\u6bd4\u7279\u5e01\u81ea\u8c37\u5e95\u5347\u81f3\u9ad8\u5cf0\u503c\u7ecf\u5386153\u5468\uff0c\u4e0a\u5347\u5e45\u5ea6\u4e3a20\u500d\uff0c\u6bd4\u7279\u5e01\u76ee\u524d\u5219\u5904\u4e8e\u7b2c\u4e94\u4e2a\u5347\u6d6a\uff0c\u9884\u8ba1\u53ef\u80fd\u5728160\u5468\u5185\u4e0a\u53479\u500d\uff0c\u8fd9\u4e00\u8f6e\u7684\u5347\u6d6a\u59cb\u4e8e2022\u5e74\u768416,603\u7f8e\u5143\u4f4e\u70b9\uff0c\u4f30\u8ba1\u9ad8\u5cf0\u503c\u53ef\u80fd\u8fbe\u5230151,360\u7f8e\u5143\u3002\u4e0d\u8fc7\uff0cTimmer\u4e5f\u8ba4\u4e3a\uff0c\u8981\u5224\u65ad\u6bd4\u7279\u5e01\u7684\u5bd2\u51ac\u671f\u662f\u5426\u6765\u4e34\u5e76\u4e0d\u5bb9\u6613\uff0c\u4f46\u6bd4\u7279\u5e01\u7684\u6ce2\u6d6a\u7ed3\u6784\u5df2\u663e\u73b0\u6210\u719f\u8ff9\u8c61\uff0c 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