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Yuvi.
$BTC，联储为何在暂停加息时仍让风险资产承压？美联储把利率维持在3.75%–4%，但有委员主张加息，说明通胀风险尚未解除。高实际利率抬高持有无收益资产的机会成本，政策分歧也会放大波动。若美元和长端收益率回落、现货ETF连续净流入且BTC收复关键区间，偏多判断才更扎实；若收益率继续走高、资金转为流出，则应下调风险偏好预期。
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