比特幣（BTC）市場急劇穩定

在過去的24小時內，比特幣躍升了8％，而特朗普總統退縮了互惠貿易關稅，比特幣的交易幅度低於82K。

Crypto markets are steadying after rebounding sharply as part of a broad-based recovery across digital assets and global equities.

加密市場在急劇反彈之後，這是整個數字資產和全球股票的廣泛恢復的一部分。

President Trump’s surprising decision to pause reciprocal trade tariffs for 90 days halted several days of declines across global markets and cryptocurrencies.

特朗普總統在90天內暫停互惠貿易關稅的令人驚訝的決定停止了全球市場和加密貨幣的幾天下降。

Investors had been fretting that Trump’s aggressive reciprocal tariffs would send the US economy into recession, causing a selloff in risk assets, the US dollar, and ultimately US government debt.

投資者一直在想，特朗普的積極互惠關稅將使美國經濟陷入衰退，導致風險資產，美元和最終美國政府債務拋棄。

However, Trump’s announcement stunned the market, triggering a sharp recovery in risk assets across the board. The tech-heavy Nasdaq closed 12% higher after its strongest daily performance in two decades.

但是，特朗普的宣布使市場震驚，引發了全面風險資產的急劇恢復。納斯達克高科技的納斯達克股票在二十年來最強的日常表現之後收盤增長了12％。

Bitcoin rallied from a low of 74.4k yesterday to a peak of 82.5k before easing back to 81.7k at the time of writing. Other cryptocurrencies also experienced big moves, with Ethereum surging 13.4% to 1611 and XRP jumping 13%.

比特幣從昨天的74.4k低點升至82.5k的峰值，然後在寫作時恢復到81.7k。其他加密貨幣也經歷了重大動作，以太坊飆升了13.4％至1611，而XRP躍升了13％。

The sharp reversal resulted in total crypto liquidations reaching $589 million yesterday according to Coinglass data. Sell positions bore the brunt of those liquidations, totalling $374 million, and long positions, $214 million.

據Coinglass數據顯示，急劇的逆轉導致昨天的加密貨幣清算量達到5.89億美元。出售職位首當其衝，總計3.74億美元，長頭寸為2.14億美元。

However, institutional demand remains weak. Yesterday, BTC ETFs experienced net outflows of $127.12 million, even as the Bitcoin price rebounded. This marked the fifth straight day of outflows. Should outflows persist and intensify, the BTC price could come under pressure once again.

但是，機構需求仍然很弱。昨天，BTC ETF經歷了1.2712億美元的淨流出，即使比特幣價格反彈。這是連續第五天流出的。如果流出持續並加劇，BTC價格可能會再次受到壓力。

While Trump’s move has brought the US and global economies away from the cliff edge, they are by no means out of the woods. Trade tariffs on autos, steel, and aluminium, along with 10% universal tariffs and an escalating trade war with China, mean there is still plenty of uncertainty. The US economy is still likely to slow but may avoid a recession, which could keep a rally in risk assets capped.

儘管特朗普的舉動使美國和全球經濟遠離懸崖邊緣，但它們絕不是遠離樹林。汽車，鋼鐵和鋁的貿易關稅，以及10％的普遍關稅以及與中國的貿易戰爭升級，意味著仍然存在很多不確定性。美國經濟仍可能會放慢腳步，但可能會避免衰退，這可能會使風險資產限制。

The FOMC minutes supported this view, showing that US risks were tilted towards higher inflation and slower growth from Trump’s trade tariffs. The minutes related to the March meeting, which took place before the latest policy chaos. This macro backdrop could make it challenging for Bitcoin to recover.

FOMC會議記錄支持了這一觀點，表明美國風險傾向於提高通貨膨脹和較慢的特朗普貿易關稅增長。與三月會議有關的會議記錄是在最新政策混亂之前舉行的。這種宏觀背景可能使比特幣恢復挑戰。

However, it is also worth keeping in mind that as the escalation of the trade war with China has seen Beijing allow the yuan to weaken below the critical 7.20 to its lowest level since 2007. This makes exports cheaper, offsetting some of the tariff pain. Historically, a weak yuan has been beneficial for Bitcoin, driving a flight of capital out of China. Should history repeat itself, this could be a support for BTC.

但是，還值得記住的是，隨著與中國貿易戰的升級，北京使元素能夠將元素削弱到2007年以來的最低水平以下。這使出口更便宜，抵消了一些關稅疼痛。從歷史上看，人民幣弱對比特幣有益，將資本從中國趕出。如果歷史重演，這可能是對BTC的支持。

Furthermore, additional economic stimulus in China after Trump ratcheted up tariffs could also be a boon for cryptocurrencies. Top leaders will meet today to discuss additional stimulus measures.

此外，在特朗普提高關稅之後，中國的其他經濟刺激也可能是加密貨幣的福音。頂級領導者今天將開會，討論其他刺激措施。

Bitcoin Technical Analysis

比特幣技術分析

Bitcoin trades below its falling trendline dating back to the start of the year, forming a series of lower highs and lower lows. The 50 SMA crossed below its 200 SMA in a bearish death cross signal. The price has recovered from 74.4k to above 80k and retested the falling trendline.

比特幣以低於其下降的趨勢線的交易可以追溯到今年年初，形成了一系列較低的高潮和較低的低點。 50 SMA在看跌死亡交叉信號中橫穿其200 SMA以下。價格已從74.4K恢復到80k以上，並重新測試了下降的趨勢線。

Rejection at the falling trendline and the RSI pointing downward while remaining below 50 could give sellers the upper hand. Sellers would need to take out support at 80k and 74.4k to extend the bearish trend.

在下降的趨勢線和RSI向下指向下降的同時拒絕，而剩餘50歲以下的拒絕可能會使賣方佔上風。賣方需要在80k和74.4k上獲得支持，以擴大看跌趨勢。

To break out to the upside, buyers will need to extend the recovery above 83.5, yesterday’s high, the falling trendline, and the 85k round number. This would need to be confirmed by a rise above the 200 SMA at 86.8K to bring 90 K into focus.

為了脫穎而出，買家將需要將回收率延伸到83.5以上，昨天的趨勢線下降和85K回合。這將需要通過超過200 SMA的增長為86.8K來確認這一點，以使90 K成為焦點。