比特幣（BTC）市場已經進入了恐懼的時期

儘管有動盪，但分析師丹·甘巴德洛（Dan Gambardello）指出，比特幣的持有量相對較大，約為78000美元。

Cryptocurrency markets have entered a period of heightened fear as financial markets react to uncertainty surrounding tariffs and monetary policy.

由於金融市場對關稅和貨幣政策的不確定性做出反應，加密貨幣市場已經進入了一段時期的恐懼。

Despite the turbulence, analyst Dan Gambardello highlights that Bitcoin is holding relatively strong at around $78,000. He contrasts it with the COVID-19 market crash when Bitcoin dropped to approximately $4,000.

儘管有動盪，但分析師丹·甘巴德洛（Dan Gambardello）強調，比特幣的持有量相對較大，約為78,000美元。當比特幣下降到約4,000美元時，他將其與19日的Covid-19市場崩潰形成鮮明對比。

“During the COVID fear of 2020, Bitcoin was around $4,000. Do you see the path in which crypto is headed? Crypto right now is holding way stronger than I think most people are realizing,” Gambardello states in his recent analysis.

Gambardello在他最近的分析中說：“在2020年對2020年的恐懼期間，比特幣約為4,000美元。您是否看到了加密貨幣的前進道路？立即加密貨幣的道路比我認為大多數人正在意識到的要強大。”

Gambardello compares to COVID-19 period

Gambardello與COVID-19時期相比

Gambardello draws parallels between the current market conditions and previous major market bottoms. He examines how markets initially reacted to Federal Reserve interventions during those periods and noted that even emergency rate cuts didn’t immediately reverse market downtrends.

Gambardello在當前的市場狀況與以前的主要市場底層之間的相似之處。他研究了市場最初對美聯儲干預措施的反應，並指出即使緊急降低率也沒有立即逆轉市場下降趨勢。

During the March 2020 market crash, the Federal Reserve held an emergency meeting on March 3rd and cut rates by 50 basis points, but markets continued to decline. It wasn’t until a second emergency meeting on March 15th, when rates were slashed by 100 basis points to 0.25%, that markets began to find a bottom, though not immediately.

在2020年3月的市場崩潰期間，美聯儲在3月3日舉行了緊急會議，降低了50個基點，但市場繼續下降。直到3月15日的第二次緊急會議，當時利率被削減100個基點至0.25％，市場開始找到底部，儘管沒有立即。

The analyst points to fear indexes approaching levels seen during previous market crises. The current “tariff panic” of 2025 has pushed fear metrics beyond the levels seen during the 2018 tariff concerns and is approaching the spike witnessed during the COVID-19 pandemic.

分析師指出，恐懼指數接近以前市場危機期間所見的水平。目前，2025年的“關稅恐慌”將恐懼指標推向了2018年關稅關注期間所看到的水平，並正在與尖峰接近19日期期間的尖峰。

On monthly charts, these fear indicators are showing wicks into territories previously seen only during major market bottoms like the 2008 financial crisis.

在每月圖表上，這些恐懼指標將燈芯顯示到以前僅在2008年金融危機等主要市場底部看到的領土。

For cryptocurrency specifically, Gambardello suggests that the current price levels represent higher lows compared to previous cycles.

對於加密貨幣而言，Gambardello認為，與以前的周期相比，當前的價格水平更高。

Crypto news: Bitcoin has a chance to drop to $72,000

加密新聞：比特幣有機會降至72,000美元

Gambardello’s technical analysis identifies several key support zones for both Bitcoin and altcoins like Cardano (ADA).

Gambardello的技術分析確定了Bitcoin和Altcoins（例如Cardano（ADA））的幾個關鍵支持區域。

For Bitcoin, he references a Fibonacci retracement level with a range between $62,000 and $72,000 as a potential target if the market continues lower. Currently, Bitcoin is finding support at what he describes as “a massive multi-year neckline” of an inverse head and shoulders pattern.

對於比特幣，他提到了斐波那契反回的水平，如果市場持續下降，則可能在62,000至72,000美元之間，作為潛在目標。目前，比特幣正在對他所說的“逆向頭和肩膀”模式的“巨大的多年頸線”尋求支持。

“We’ve already got our throwback to the neckline of the inverse head and shoulders we were anticipating anyway. We’re at the target right now. You see that red line, that’s a massive multi-year neckline,” he explains.

他解釋說：“無論如何，我們已經將逆向頭和肩膀的領口倒退了。我們現在正處於目標。您看到那條紅線，這是一條巨大的多年領口。”

For Cardano, he notes the current price of 57 cents might see further downside, but emphasizes the long-term perspective by comparing it to the COVID swing low when ADA fell below 2 cents.

他指出，他指出，目前57美分的價格可能會進一步偏低，但強調了長期的觀點，即當ADA低於2美分時將其與Covid Swing Low進行比較。

The S&P 500 weekly chart is also the focus of his attention. Gambardello points out that the RSI (Relative Strength Index) is at levels historically associated with bottoms in both the 2018 tariff fears and the 2020 COVID crash. He also refers to the 200-week moving average at $4,700 as a possible support for the S&P 500 in case the downtrend persists.

標準普爾500指數每週圖表也是他注意的重點。 Gambardello指出，在2018年關稅擔憂和2020年Covid崩潰中，RSI（相對強度指數）與底部相關。他還指200週的搬家平均值為4,700美元，以便為標準普爾500指數提供支持，以防下降趨勢持續。

Technically speaking, Gambardello implies that although the charts may appear “absolutely terrible” up close, the more extended patterns reveal a higher flight. He asks viewers to bear in mind by comparing these newer higher lows with earlier cycles.

從技術上講，甘巴德洛（Gambardello）意味著，儘管圖表可能看起來“絕對可怕”，但更擴展的模式顯示出更高的飛行。他要求觀眾通過將這些較新的高低與較早的周期進行比較來牢記。

Gambardello identifies catalyst for recovery

Gambardello識別用於恢復的催化劑

Gambardello identifies several potential catalysts that could trigger a market recovery once the current fear subsides. He points to news that the European Union is “suddenly ready to negotiate for zero for zero tariffs with the US” as an example of how the tariff situation might ultimately resolve more positively than current market pricing suggests.

甘巴德洛（Gambardello）確定了幾種潛在的催化劑，一旦當前的恐懼消退，可能會引發市場的複蘇。他指出，有消息稱，歐盟“突然準備就與美國的零關稅進行零關稅進行談判”，這是關稅情況最終可能比當前市場定價所建議的更積極地解決的一個例子。

The analyst believes that while fear is currently driving the markets, the fundamentals for crypto—particularly in the United States—remain strong due to the regulatory direction under the current administration. He proposes the trade reaction to announcements of tariffs is exaggerated and the eventual negotiations are likely to be positive for the US economy.

分析師認為，儘管恐懼目前正在推動市場，但由於目前的政府規定的監管方向，加密貨幣的基本面（尤其是在美國）強勁。他提出對關稅公告的貿易反應被誇大了，最終的談判可能對美國經濟有利。

He adds the wider considerations of policy shifts towards cryptocurrency across the United States. Although he does not elaborate on specific policies, he points to “deregulation” and “America becoming the crypto capital of the world” as drivers that are likely to deliver long-term expansion in the cryptocurrency space.

他補充說，政策轉向美國的加密貨幣的更廣泛考慮。儘管他沒有詳細闡述特定的政策，但他指出，“放鬆管制”和“美國成為世界的加密貨幣之都”，因為他們可能會在加密貨幣領域進行長期擴張。