當特朗普準備釋放新的關稅時，比特幣（BTC）市場正在仔細踩踏

加密市場正在謹慎行事，因為貿易商和投資者在越來越多的宏觀經濟不確定性中採取了拭目以待。謹慎的情緒反映在連續兩天的BTC交易所交易基金（ETF）的淨流出中，這表明機構投資者正在減少在關鍵的地緣政治事件之前的曝光率。

The crypto market is treading carefully as traders and investors adopt a wait-and-see approach amid mounting macroeconomic uncertainty. The cautious sentiment is reflected in two consecutive days of net outflows from BTC exchange-traded funds (ETFs), suggesting institutional investors are reducing exposure ahead of a key geopolitical event.

加密市場正在謹慎行事，因為貿易商和投資者在越來越多的宏觀經濟不確定性中採取了拭目以待。謹慎的情緒反映在連續兩天的BTC交易所交易基金（ETF）的淨流出中，這表明機構投資者正在減少在關鍵的地緣政治事件之前的曝光率。

Data from Farside Investors indicates that Bitcoin ETFs have recorded significant net outflows since the start of the week. Monday saw a $60.6 million outflow from ETFs managed by Bitwise (BITB), Ark Invest (ARKB), and WisdomTree (BTCW). Notably, BlackRock’s IBIT was the only Bitcoin ETF to see positive flows on that day.

Farside Investors的數據表明，自本週開始以來，比特幣ETF記錄了大量的淨流出。週一，來自Bitwise（BitB），ARK Invest（ARKB）和WisdomTree（BTCW）管理的ETF的6060萬美元流出。值得注意的是，貝萊德的IBIT是當天唯一看到積極流動的比特幣ETF。

However, the outflows intensified on Tuesday, reaching nearly $158 million, as Bitwise and Ark Invest saw the largest outflows. By April 1, even BlackRock’s IBIT had recorded zero flows, further highlighting the risk-off sentiment in the market. Meanwhile, Ethereum ETFs also suffered net outflows of $3.6 million, underscoring broader caution among institutional players.

但是，由於Bitwise和Ark Invest看到最大的外流，週二的流出增長了近1.58億美元。到4月1日，甚至貝萊德的IBIT都記錄了零流量，進一步強調了市場上的冒險情緒。同時，以太坊ETF也遭受了360萬美元的淨流出，這引起了機構參與者的更加謹慎。

“The Spot Bitcoin ETFs saw a $157.8 million outflow yesterday. The Spot Ethereum ETFs saw a $3.6 million outflow. Institutions are reducing risk ahead of today’s tariff announcement,” noted prominent analyst Crypto Rover.

“現貨比特幣ETF昨天的流出量為1.578億美元。當地的以太坊ETF看到了360萬美元的流失。機構在當今的關稅公告之前正在降低風險，”著名的分析師Crypto Rover指出。

The Spot Bitcoin ETFs saw a $157.8M outflow yesterday.The Spot Ethereum ETFs saw a $3.6M outflow.INSTITUTIONS ARE REDUCING RISK AHEAD OF TODAY'S TARIFF ANNOUNCEMENT! pic.twitter.com/bLW5xPEj6U

昨天，現貨比特幣ETF昨天流出了1.578億美元。 pic.twitter.com/blw5xpej6u

Bitcoin Faces Volatility as Trump Unveils Tariff Plan

隨著特朗普公佈關稅計劃，比特幣面臨波動

The heightened caution in crypto markets coincides with an impending announcement from former U.S. President Donald Trump on April 2, dubbed “Liberation Day.” The event is expected to unveil a sweeping new tariff policy that could potentially trigger a global trade war.

加密貨幣市場的謹慎態度恰逢前美國總統唐納德·特朗普（Donald Trump）在4月2日被稱為“解放日”的宣布。預計該活動將推出一項詳盡的新關稅政策，這可能會引發全球貿易戰。

With the scope of the tariffs still unclear, uncertainty is rippling through financial markets, leaving investors in limbo. According to Bloomberg, “The White House has not reached a firm decision on their tariff plan,” further adding to the market’s anxiety.

由於關稅的範圍仍然不清楚，不確定性在金融市場中蕩漾，使投資者處於困境。根據彭博社的說法，“白宮尚未對其關稅計劃做出堅定的決定，”進一步增加了市場的焦慮。

Historically, major tariff announcements have had significant impacts on risk assets, including Bitcoin. Some analysts warn that if Trump enforces aggressive trade policies, financial markets including stocks and crypto could face extreme volatility, with potential drawdowns of 10-15%.

從歷史上看，主要關稅公告對包括比特幣在內的風險資產產生了重大影響。一些分析人士警告說，如果特朗普執行積極的貿易政策，包括股票和加密貨幣在內的金融市場可能會面臨極端波動，潛在的降低為10-15％。

“April 2nd is similar to election night. It is the biggest event of the year by an order of magnitude. 10x more important than any FOMC, which is a lot. And anything can happen,” economic analyst Alex Krüger predicted.

“ 4月2日與選舉之夜相似。這是一年中最大的事件。訂單比任何FOMC都重要的10倍，這一切都可能發生。”經濟分析師AlexKrüger預測。

Market views updateMarkets crawl higher if headlines remain neutral to benign this week, then freeze as we await April 2nd, which is reciprocal tariffs day announcement or, as Trump called it, Liberation Day.April 2nd is similar to election night. It is the biggest event of the year by an ...

如果標題在本周保持良性中立，那麼更高的市場視圖更高的爬網是在我們等待4月2日（這是相互關稅日公告）的情況下凍結的，或者正如特朗普所說的那樣，解放日。第二大約與選舉之夜相似。這是一年中最大的事件。

Bitcoin Faces Headwinds as Investors Shift

隨著投資者的轉變，比特幣面臨逆風

Some investors are shifting their capital towards traditional safe-haven assets as uncertainty looms. A Bank of America survey revealed that 58% of fund managers are favoring gold as a hedge against escalating trade tensions, while only 3% see Bitcoin as a viable alternative.

一些投資者正在將其資本轉移到傳統的避行資產上，因為不確定性迫在眉睫。美國銀行的一項調查顯示，有58％的基金經理贊成黃金作為對沖，反對不斷升級的貿易緊張局勢，而只有3％的基金經理將比特幣視為可行的替代方案。

Bitcoin’s price volatility and limited crisis-time liquidity have often been cited as key barriers preventing it from establishing itself as a true safe-haven asset. Historically, trade war fears have led to capital flight into gold rather than Bitcoin, highlighting the traditional preference for the precious metal.

比特幣的價格波動和有限的危機流動性經常被認為是關鍵障礙，阻止其將自己確立為真正的避風港資產。從歷史上看，貿易戰爭的恐懼導致了資本飛往黃金而不是比特幣，突出了對貴金屬的傳統偏愛。

However, despite the immediate challenges, long-term holders of Bitcoin remain undeterred. On-chain data from Glassnode indicates that Bitcoin supply on exchanges has dropped to just 7.53%, reaching the lowest level since February 2018. This decline suggests that investors are holding onto their coins and signals a potential shift in macroeconomic trends.

然而，儘管面臨著艱鉅的挑戰，但比特幣的長期持有人仍然沒有避免。來自GlassNode的鍊鍊數據表明，交易所的比特幣供應量已下降到7.53％，達到了自2018年2月以來的最低水平。這種下降表明投資者正在持有硬幣，並發出了宏觀經濟趨勢的潛在轉變。

As the crypto market braces for Trump’s Liberation Day announcement, all eyes remain on how the tariff decision could reshape global markets. Will Bitcoin follow gold’s lead as a haven, or will it endure another bout of volatility? One thing is certain - April 2 will be a defining moment for financial markets in 2025.

隨著特朗普解放日公告的加密市場括號，所有人都關注關稅決定如何重塑全球市場。比特幣會遵循Gold作為避風港的領先地位，還是會忍受另一場波動？可以肯定的一件事 - 4月2日將是2025年金融市場的決定性時刻。