比特幣（BTC）的價格在3月24日飆升了3％，從3月11日的76,900美元低落

儘管未能維持88,000美元的水平，但3月24日，比特幣（BTC）的價格從3月11日的76,900美元低落，其價格從3月11日的76,900美元遙遙無期。

Bitcoin (BTC) price rose by 3% on March 24, rebounding from its recent low of $76,900 on March 11. However, the cryptocurrency failed to sustain the $88,000 level, which traders had hoped to see.

比特幣（BTC）的價格在3月24日上漲了3％，從3月11日的76,900美元起回彈。但是，加密貨幣未能維持88,000美元的水平，交易者希望看到這一水平。

Bitcoin price trades 19% away from its all-time high, while gold is trading just 1% below its record high of $3,057.

比特幣價格遠離其歷史最高水平19％，而黃金的交易僅比其創紀錄的3,057美元低1％。

S&P 500 futures (left) vs. Bitcoin/USD (right). Source: TradingView / Cointelegraph

標普500期貨（左）與比特幣/美元（右）。資料來源：TradingView / Cointelegraph

Some analysts attribute Bitcoin's recent price gains to U.S.-listed company Strategy increasing its BTC reserves, while others highlight macroeconomic factors, such as easing inflation expectations and a softer stance from U.S. President Donald Trump on tariffs.

一些分析師將比特幣最近的價格歸因於美國上市的公司戰略，以增加其BTC儲備，而另一些分析師則強調了宏觀經濟因素，例如緩解通貨膨脹的預期以及美國總統唐納德·特朗普對關稅的敏捷立場。

Despite this constructive backdrop, traders question what factor could drive Bitcoin's daily close above $92,000, a feat last achieved on March 3.

儘管有這種建設性的背景，但貿易商質疑哪些因素可以使比特幣的每日收盤價超過92,000美元，這是3月3日最後實現的壯舉。

Bitcoin's upside limited as investors fear economic recession

由於投資者擔心經濟衰退，比特幣的上行有限

Economists anticipate signs of a slowdown in the "core" Personal Consumption Expenditures (PCE) index, which is projected to display a 2.7% rise in February, according to Yahoo News.

根據Yahoo News的報導，經濟學家預計，“核心”個人消費支出（PCE）指數的跡像有所放緩，該指數預計將在2月份上漲2.7％。

Implied expectations for the Sept. 17 FOMC. Source: CME FedWatch tool / Cointelegraph

對9月17日FOMC的隱含期望。資料來源：CME FedWatch工具 / Cointelegraph

This data, the U.S. Federal Reserve's preferred inflation metric, is set to be released on March 26.

該數據是美國美聯儲的首選通貨膨脹指標，定於3月26日發布。

If confirmed, the softer inflationary trend would provide support for Federal Reserve Chair Jay Powell's remarks on transitory inflation and increase the likelihood of two interest rate cuts in 2025, as reflected in the Treasury futures market.

如果得到確認，柔和的通貨膨脹趨勢將為美聯儲主席傑伊·鮑威爾（Jay Powell）關於暫時通貨膨脹的評論提供支持，並增加了2025年兩次降低利率的可能性，這在國庫期貨市場中反映了。

As the U.S. central bank shifts to a less restrictive monetary policy, risk markets typically benefit from increased liquidity and reduced fixed-income appeal. However, there is still some uncertainty regarding economic growth.

隨著美國中央銀行轉向限制性較小的貨幣政策，風險市場通常會受益於增加的流動性和減少固定收入的吸引力。但是，關於經濟增長仍然存在一些不確定性。

Investors are increasingly worried about recession risks due to excessive valuations in artificial intelligence stocks and concerns that U.S. federal spending cuts could negatively impact consumers and the commercial real estate market.

由於人工智能股票的過多估值，投資者越來越擔心衰退風險，並且擔心美國聯邦支出可能會對消費者和商業房地產市場產生負面影響。

While these issues have little direct connection to Bitcoin, traders fear that all risk markets could suffer if the threat of stagflation emerges.

儘管這些問題與比特幣幾乎沒有直接聯繫，但交易者擔心，如果出現雄鹿的威脅，所有風險市場都可能遭受損失。

The Wall Street Journal reported that President Trump is considering scaling back some tariffs initially planned for April 2. Although unconfirmed, the news suggests Trump may exclude certain industry-specific duties and grant exemptions to some nations.

《華爾街日報》報導說，特朗普總統正在考慮縮減最初計劃於4月2日計劃的一些關稅。儘管未經證實，但該消息表明，特朗普可能會排除某些特定於行業的職責和對某些國家的豁免。

On March 24, S&P 500 futures rose by 1.5% as investors perceived lower economic contraction risks, which could potentially support Bitcoin's price gains.

3月24日，由於投資者認為較低的經濟收縮風險，標準普爾500年期貨增長了1.5％，這有可能支持比特幣的價格上漲。

Strategy buys more Bitcoin, but is their tactic sustainable?

策略購買了更多比特幣，但是​​他們的戰術可持續嗎？

On March 24, Strategy announced the acquisition of an additional $584 million in Bitcoin, increasing its holdings to 506,137 BTC. The funds for this latest purchase came from the sale of 1.97 million common stock shares, along with the broader $21 billion STRK perpetual preferred stock issuance program.

3月24日，戰略宣布收購了另​​外5.84億美元的比特幣，將其持股量增加到506,137 BTC。最新購買的資金來自出售197萬股普通股，以及更廣泛的210億美元Strk永久優先股發行計劃。

These expanded fundraising options have improved the company's chances of reaching its ambitious $42 billion Bitcoin acquisition target.

這些擴展的籌款選擇提高了該公司達到其雄心勃勃的420億美元比特幣收購目標的機會。

However, critics argue that Strategy has been the primary factor supporting Bitcoin's $80,000 level, posing a risk of price corrections if the company fails to raise additional funds or pauses its stock issuance program for any reason.

但是，批評家認為，策略一直是支持比特幣80,000級水平的主要因素，如果公司因任何原因而未能籌集額外的資金或暫停其股票發行計劃，就會構成價格更正的風險。

This view disregards the fact that Bitcoin spot exchange-traded funds (ETFs) saw $786 million in net inflows between March 14 and March 21.

這種觀點忽略了一個事實，即比特幣現貨交易所交易基金（ETF）在3月14日至3月21日之間的淨流入量為7.86億美元。

In essence, Bitcoin is well-positioned to recapture the $92,000 level, although it remains heavily dependent on overall macroeconomic conditions.

從本質上講，比特幣的位置很好，可以重新獲得92,000美元的水平，儘管它仍然嚴重依賴整體宏觀經濟狀況。