比特幣（BTC）市場將面臨深深的經濟風暴的餘震，直到4月

自1月以來，關稅的幽靈一直在迫在眉睫。唐納德·特朗普（Donald Trump）關於中國進口的宣布導致比特幣下降了17％。

Crypto markets will be facing the aftershocks of a deep-rooted economic storm until April. An explosive mix of geopolitical tensions and rigid interest rates is stifling risk appetite. But behind this chaos lie opportunities. Decoding.

加密貨幣市場將面對一個根深蒂固的經濟風暴的餘震，直到4月。地緣政治緊張局勢和嚴格的利率的爆炸性結合正在扼殺風險食慾。但是這種混亂的背後謊言機會。解碼。

Trade wars: a predictable but devastating cyclone for the crypto market

貿易戰：加密貨幣市場的可預測但毀滅性的旋風

The specter of tariffs has been looming since January. The announcement by Donald Trump on Chinese imports triggered a 17% drop in bitcoin.

自1月以來，關稅的幽靈一直在迫在眉睫。唐納德·特朗普（Donald Trump）關於中國進口的宣布導致比特幣下降了17％。

However, this is just a prelude. Nicolai Sondergaard, an analyst at Nansen, highlights that fears related to trade barriers remain “the main driver” of the markets.

但是，這只是一個前奏。 Nansen的分析師Nicolai Sondergaard強調，與貿易障礙有關的擔心仍然是市場的“主要驅動力”。

A persistent blockage until April 2, a key date when reciprocal tariffs could come into effect. Crypto assets, although disconnected from traditional economies, cannot withstand this systemic pressure.

持續的障礙到4月2日，關鍵日期可能會生效。加密資產雖然與傳統經濟體脫節，但不能承受這種系統性壓力。

Investors are fleeing volatile assets, seeking refuge in caution. Ironically, every rebound in bitcoin is ephemeral, stifled by anxiety-inducing macroeconomic news.

投資者正在逃離揮發性資產，謹慎尋求庇護。具有諷刺意味的是，比特幣中的每個反彈都是短暫的，被焦慮的宏觀經濟新聞所扼殺。

“Resolving trade tensions could be a major catalyst,” Sondergaard elaborates. But the horizon remains clouded.

Sondergaard闡述說：“解決貿易緊張局勢可能是主要的催化劑。”但是地平線仍然籠罩。

China, the United States, and the EU are playing a game of chess where each tariff move shakes the markets.

中國，美國和歐盟正在打一個國際象棋遊戲，每種關稅都會動搖市場。

Cryptos, seen as a safe haven during previous crises, are temporarily losing this status. Capital is freezing, awaiting a sign of easing. Between sanctions and countermeasures, the political calendar now dictates the pace of prices.

加密在以前的危機期間被視為避風港，正在暫時失去這種狀態。資本正在凍結，等待放鬆的跡象。在製裁和對策之間，政治日曆現在決定了價格的速度。

Interest rates: the Fed’s vise is tightening

利率：美聯儲的虎鉗正在收緊

In parallel, American monetary policy adds a layer of complexity. The Fed’s high interest rates are suffocating risk appetite. “The Federal Reserve is waiting for real bad news to lower its rates,” explains Sondergaard. A paradox: investors hope for economic slowdown to see signs of easing.

同時，美國貨幣政策增加了一層複雜性。美聯儲的高利率令人窒息。 Sondergaard解釋說：“美聯儲正在等待真正的壞消息，以降低其利率。”悖論：投資者希望經濟放緩，以了解緩解的跡象。

The probabilities of a status quo during the May FOMC meeting are nearing 85%. A clear signal: the priority is still fighting inflation, despite recession risks.

5月FOMC會議期間現狀的概率接近85％。一個明確的信號：儘管有衰退風險，但優先事項仍在打擊通貨膨脹。

For Iliya Kalchev, an analyst at Nexo, this rigidity is only temporary. “Stabilized economic data could reignite enthusiasm for bitcoin,” he estimates. But the timeline is tight.

對於Nexo的分析師Iliya Kalchev而言，這種剛性只是暫時的。他估計：“穩定的經濟數據可能會重新激發比特幣的熱情。”但是時間表很緊。

The upcoming releases — GDP, unemployment claims, PCE index — will be scrutinized like oracles.

即將發布的版本（GDP，失業索賠，PCE指數）將像牙齒一樣審查。

A decline in inflation would pave the way for more lenient rates, bringing some color back to cryptos. In the meantime, the market digests a reality: money is expensive, and speculative investments are paying cash for this reality.

通貨膨脹的下降將為更寬敞的速率鋪平道路，從而使一些顏色恢復到加密貨幣。同時，市場消化了一個現實：金錢很昂貴，投機性投資正在為這一現實支付現金。

April promises to be a pivotal month. Between the possible activation of tariffs and hopes for a Fed pivot, cryptos are navigating between challenges and opportunities. Seasoned investors know that these storms forge markets.

四月承諾將成為關鍵月份。在可能的激活關稅和對美聯儲樞紐的希望之間，加密貨幣正在挑戰和機遇之間導航。經驗豐富的投資者知道，這些風暴偽造市場。

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Fascinated by Bitcoin since 2017, Evariste has continuously researched the subject. While his initial interest was in trading, he now actively seeks to understand all advances centered on cryptocurrencies. As an editor, he strives to consistently deliver high-quality work that reflects the state of the sector as a whole.

自2017年以來，Evariste著迷於比特幣，不斷研究該主題。儘管他最初的興趣是交易，但他現在積極尋求了解以加密貨幣為中心的所有進步。作為一名編輯，他努力始終如一地提供反映整個行業狀態的高質量工作。