比特幣（BTC）市場擴展了昨天的幻燈片

加密市場正在延長昨天的幻燈片，因為投資者預計唐納德·特朗普總統的互惠關稅將於4月2日生效，以及週五晚些時候將於4月2日生效。

The crypto market is extending yesterday's slide as investors anticipate the impact of President Donald Trump’s reciprocal tariffs, set to come into effect on April 2, and key macroeconomic data due later Friday.

加密市場正在延長昨天的幻燈片，因為投資者預計唐納德·特朗普總統的互惠關稅將於4月2日生效，以及週五晚些時候將於4月2日生效。

Bitcoin (BTC) has lost 2.5% in the past 24 hours, which seems pretty staid when compared with an almost 6% in slide in ether (ETH), 5.5% in XRP and 7% in dogecoin (DOGE). The broader CoinDesk 20 Index (CD20) dropped 4.65%. Gold, in contrast, hit new highs.

在過去的24小時內，比特幣（BTC）損失了2.5％，而Ether（ETH）的幻燈片近6％，XRP為5.5％，而Dogecoin（Doge）的幻燈片卻差不多6％。較寬的Coindesk 20指數（CD20）下降了4.65％。相比之下，黃金達到了新的高點。

The growing exposure to gold has benefited tokens backed by the precious metal, which CoinDesk Data’s latest stablecoin report shows climbed to a $1.4 billion market capitalization in March.

珍貴金屬支持的金屬支持的代幣越來越受益，Coindesk Data的最新Stablecoin報告顯示，3月份的市值攀升至14億美元的市值。

It seems clear traders are moving to reduce risk exposure with one eye on the U.S. personal consumption expenditure (PCE) report set to be released later. That data could influence Federal Reserve interest rate decisions and thus any appetite for risk going forward.

很明顯，交易者正在朝著美國個人消費支出（PCE）報告的一方面注視降低風險敞口，該報告將在稍後發布。該數據可能會影響美聯儲的利率決策，從而影響未來風險的任何需求。

Bitcoin traders are also anticipating a record-breaking $12.2 billion in BTC options expiring on Deribit today, with a max pain point at $85,000. Implied volatility, however, remains near annual lows as the expiry isn’t likely to move the market, according to Wintermute OTC trader Jake O.

比特幣交易者還預計，今天的deribit上有創紀錄的122億美元的BTC期權，最大疼痛點為85,000美元。但是，根據溫特米特國際酒店交易員傑克·O（Jake O. Jake O）的說法，由於到期不可能轉移市場，因此隱含的波動性仍然接近年度低點。

“These expirations are yet to consistently move markets, largely because BTC options open interest remains small relative to spot activity," Jake O. said in an emailed statement. "That $12B is dwarfed by $28B in spot volume traded over the past 24 hours.”

傑克·O（Jake O. “過去24小時內，$ 12B的現貨交易量為28B美元。”

While the derisking trend grows, spot bitcoin exchange-traded funds (ETFs) have seen consistent inflows since mid-March, adding in nearly $1 billion over the past two weeks. In contrast, spot ether ETF outflows have remained persistent, with around $115 million exiting these funds over the same period.

雖然Derisking趨勢的增長，但現貨比特幣交易所貿易資金（ETF）自3月中旬以來就一直持續出現流入，在過去的兩周中增加了近10億美元。相比之下，現場ETHER ETF流出仍然持久，約有1.15億美元在同一時期退出了這些資金。

Looking ahead, money managers are likely to keep on reducing risk exposure. The trend spurred Goldman Sachs to raise its gold price target for the year to $3,300 per troy ounce, with the potential to rise to $4,500 in an “extreme tail scenario.” Stay alert!

展望未來，貨幣經理可能會繼續降低風險敞口。該趨勢刺激了高盛（Goldman Sachs）將其當年的黃金價格目標提高到每盎司3,300美元，並在“極端尾部場景”中有可能上升到4,500美元。保持警覺！

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By Shaurya Malwa

Shaurya Malwa

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