Major cryptocurrencies showed little bullish momentum Monday, even as hopes for the U.S.-China trade talks lifted Asian stocks and a key Chinese price index fell deeper into deflationary territory.

週一的主要加密貨幣幾乎沒有看漲的勢頭，即使人們對美中貿易談判的希望提高了亞洲股票，而中國關鍵的中國價格指數則更深入地進入了通貨緊縮領土。

Bitcoin

比特幣

Data from Blockchain.com showed a marked slowdown in network activity, with the seven-day moving average of daily on-chain transactions falling to 315.48K, the lowest in at least a year. At press time, BTC was trading at $26,288, changing hands in a green candlestick on the 1-day chart.

來自BlockChain.com的數據顯示，網絡活動的速度顯著放緩，每日鏈上交易的平均值為7天，降低到315.48K，這是至少一年內最低的。發稿時，BTC的交易價格為26,288美元，在為期1天的圖表上以綠色的燭台換手。

The apex cryptocurrency had risen over the past 24 hours as it tested the upper boundary of a 100-day simple moving average at $26,000. The SMA acted as a strong resistance level in March, when BTC dropped sharply after failing to break above the indicator.

Apex加密貨幣在過去的24小時內已經上升，因為它測試了100天簡單移動平均線的上限，為26,000美元。 SMA在3月份起著強大的阻力水平，當時BTC未能突破指示器後急劇下降。

The price action also came as the U.S. dollar showed signs of weakness following last week’s rally. The dollar index fell 0.2% to 103.4, remaining above a 15-month low of 99.17 hit on Thursday.

價格上的行動也發生了，因為美元在上週的集會之後表現出虛弱的跡象。美元指數下降了0.2％至103.4，在周四的15個月低點低於99.17的15個月低點。

The greenback's weakness could be linked to the upcoming U.S. consumer price index data, which is expected to show that Trump-linked tariffs are beginning to heat up consumer prices. Economists polled by Dow Jones expect the CPI to rise 0.2% in May after no change in April.

Greenback的弱點可能與即將到來的美國消費者價格指數數據有關，這預計將表明與特朗普有聯繫的關稅開始加熱消費者價格。道瓊斯（Dow Jones）對經濟學家進行了調查，預計CPI在4月沒有變化後5月上升0.2％。

The headline CPI is seen matching April's pace of 0.2% month-on-month growth, equating to an annualized 2.5% rise versus April's 2.3% increase, according to FXStreet. Meawhile, the core inflation, which excludes the volatile food and energy component, is forecast to have ticked higher to 2.9% in May from 2.8% in April.

根據FXSTREET的數據，CPI的標題與4月份每月0.2％的增長相匹配，相當於每年2.5％的增長，而4月份的增長率為2.3％。不包括揮發性食品和能源成分的核心通貨膨脹率從4月份的2.8％的2.8％提高到2.9％。

Economists at Barclays expect the data to show first signs of tariffs-related price increases across wide range of core goods.

巴克萊的經濟學家預計，數據將顯示與關稅相關價格上漲的首先跡象。

A hotter-than-expected print could dent Fed rate cuts, potentially injecting downside volatility in financial markets.

超過預期的印刷品可能會降低稅率的降低，可能會在金融市場中註入下行波動。

Payments-focused cryptocurrency XRP struggled to gather upside traction despite topping a bearish trendline from the mid-May highs. The cryptocurrency changed hands at $2.24 at press time, down over 1% on the day (UTC). Volatility may increase this week as the XRP Ledger's APEX 2025 conference kicks off in Singapore.

以付款為重點的加密貨幣XRP努力地收集上升牽引力，儘管五月中期的高點是看跌的趨勢線。加密貨幣在發稿時以2.24美元的價格易手，當天下降了1％以上（UTC）。隨著XRP Ledger的Apex 2025會議在新加坡舉行，波動性可能會增加。

Meme cryptocurrency DOGE traded nearly 2% lower, closing in on 18 cents, having failed to establish a foothold above the 100-day SMA over the weekend.

Meme Cryptocurrency Doge的交易價格降低了近2％，收盤價為18美分，在周末未能建立高於100天SMA的立足點。

Hang Seng tops 24K

懸掛森頂24K

Hong Kong's Hang Seng index rose 1.3%, topping the 24,000 mark for the first time since March 24, according to data source TradingView. The move came in response to the optimism about the U.S.-China trade talks this week.

根據數據源TradingView的數據，香港的Hang Seng Index上漲了1.3％，自3月24日以來首次超過24,000分。此舉是為了回應本週對美國 - 中國貿易談判的樂觀情緒。

"Optimism is as high as it's been since Trump's election as top trade deputies will meet in London starting on Monday. There are indications that talks will go all week and Trump himself is optimistic," ForexLive's Chief Currency Analyst Adam Button said in a blog post.

“樂觀主義自從周一開始在倫敦開會以來，特朗普當選為最高貿易代表以來的樂觀情緒。有跡象表明會談將整週進行，而特朗普本人也很樂觀，” Forexlive的首席貨幣分析師亞當·巴頓（Adam Button）在博客中說。

"The meeting should go very well," President Donald Trump said on Truth Social Friday, announcing the new round of trade talks in London.

唐納德·特朗普（Donald Trump）總統在《真相社交週五》中說：“會議應該很好。”宣佈在倫敦舉行的新一輪貿易會談。

Other Asian indices, such as South Korea's KOSPI and China's Shanghai Composite, also gained ground despite the deepening consumer and factory gate deflation in China.

儘管在中國的消費者和工廠門口加深，但其他亞洲指數，例如韓國的Kospi和中國的上海綜合，也取得了進展。

China's deflation worsens

中國的通縮惡化

China's consumer prices fell 0.1% year-over-year in May, according to data from the National Bureau of Statistics released on Monday. The CPI first turned negative in February.

根據周一發布的國家統計局的數據，中國的消費者價格在5月份同比下跌0.1％。 CPI在二月份首次變成負面。

The reading missed the year-over-year increase of 0.1% that economists polled by Bloomberg had anticipated and followed April's 0.0% rise. It also marked the weakest reading since December 2022.

讀書遺失了彭博社預期的經濟學家的同比增長0.1％，並隨後4月的0.0％增長。它也標誌著自2022年12月以來的讀物最薄弱。

Meanwhile, the producer price index, or factory gate prices, fell 3.3% year-over-year in May, registering a sharper decline than the 3.2% drop analysts had expected. Factory gate prices have been in deflation since October 2022.

同時，生產商的價格指數或工廠門價格在5月份同比下降3.3％，比分析師預期的3.2％的下降幅度下降了。自2022年10月以來，工廠門價格一直在放氣。

According to Robin Brooks, senior fellow in the Global Economy and Development program at the Brookings Institution, the U.S. tariffs are generating a deflationary shock for major exporters like China.

根據布魯金斯機構全球經濟與發展計劃高級研究員羅賓·布魯克斯（Robin Brooks）的說法，美國關稅正在為中國等主要出口商產生通縮衝擊。

"China's producer price inflation for consumer goods is down to its lowest level since the 2008 crisis. U.S. tariffs will now push China into full-on deflation. All necessary conditions for deflation are there: weak consumption and a debt overhang. U.S. tariffs are now the catalyst...," Brooks said on X.

“自2008年危機以來，中國對消費品的生產者價格通貨膨脹率一直降至其最低水平。美國關稅現在將使中國全面放通。所有必要的通貨緊縮條件都存在：消費量較弱，債務迫切了。現在，美國關稅是催化劑……”布魯克斯說，”布魯克斯在x上說。

The worsening deflation could prompt China

加路惡化可能會促使中國