比特幣（BTC）星期一以紅色開始，坦克2％

根據Coindesk Indices數據，比特幣（BTC）在過去的24小時內以紅色開始，在過去的24小時內下降了2％

Bitcoin (BTC) started Monday in the red with a 2% drop over the past 24 hours, according to CoinDesk Indices data, leading to heaviness in the broader market as major tokens fell as much as 5%.

根據Coindesk Indices數據的數據，比特幣（BTC）在過去的24小時內以紅色開始，在過去的24小時內下降了2％，這導致了更廣泛的市場，因為主要代幣下降了多達5％。

BTC touched resistance at $84,000 on Sunday, making it a key level to cross for chances of a run to the upside and trading at just over $83,300 in Asian afternoon hours Monday.

BTC週日以84,000美元的價格觸及了抵抗，這使得在周一亞洲下午時間的上漲期間的機會和交易的機會略高於83,300美元。

Majors such as XRP, Solana’s (SOL), Cardano’s (ADA) and dogecoin (DOGE) tanked as much as 5%, while BNB Chain’s (BNB) stood out as the only major in green with a 3% rise.

XRP，Solana's（Sol），Cardano（Ada）和Dogecoin（Doge）等專業的銷量高達5％，而BNB Chain（BNB）則是唯一的綠色專業，而綠色的唯一專業卻增加了3％。

The crypto market has plateaued since last week’s sell-off due to the U.S. tariffs and deteriorating macroeconomic conditions. Concerns over a U.S. recession is growing due to Trump’s tariffs, traders say, with the likelihood of choppiness ahead as a correlation with U.S. equities staying intact.

自上週售罄以來，由於美國關稅和宏觀經濟狀況惡化，該加密市場已經平穩。交易員說，由於特朗普的關稅，對美國衰退的擔憂正在增長，因為與美國股票保持不變的相關性，斬首的可能性是與美國股票的聯繫。

Still, some see oncoming volatility in altcoins and memecoins amid a flat market regime.

儘管如此，有些人仍會在平坦的市場製度中看到山寨幣和紀念因素的迎面趨勢。

“Trading volume has increased for altcoins after Trump’s World Liberty Financial bought MNT and AVAX, the latter of which was also part of an ETF application by VanEck,” Nick Ruck, director at LVRG Research, said in a Telegram message. “This may be a sign that traders and investors will focus on altcoins in the short term for better gains compared to large-cap coins like Bitcoin or Ethereum.”

LVRG Research的董事尼克·魯克（Nick Ruck）在一份電報消息中說：“在特朗普的世界自由金融購買了MNT和Avax之後，Altcoins的交易量增加了，後者也是Vaneck申請的一部分。” “這可能表明，與比特幣或以太坊（例如比特幣或以太坊）相比，交易者和投資者將在短期內專注於Altcoins，以獲得更好的收益。”

Traders say the current sell-off could have been caused by an unwinding of ETF and spot-linked traders. Equity valuations outside of the major large caps are relatively contained compared to historical averages, and economic hard data is likely to outperform the rapid deterioration in soft data, so market consensus is that this remains a ‘buy the dip’ market while we work through the tariff volatility.

交易者說，當前的拋售可能是由ETF和與現貨交易者的放鬆造成的。與歷史平均值相比，大型大帽子之外的股權估值相對包含，並且經濟硬數據的表現可能超過軟數據的快速惡化，因此市場共識是在我們通過關稅波動工作時，這仍然是一個“購買浸入”市場。

“The current belief is that the current sell-off is entirely driven by the massive ‘multi-strat’ hedge fund strategies that have dominated the macro space,” Augustine Fan, Head of Insights at SignalPlus, told CoinDesk in a Telegram message.

“目前的信念是，當前的拋售完全是由主導宏觀空間的大規模'多層'對沖基金策略所驅動的，” SignalPlus的見解負責人奧古斯丁·範（Augustine Fan）在一份電報中告訴Coindesk。

Multi-strategy (multi-strat) trades involve hedge funds using diverse tactics – like arbitrage, long-short positions, and leverage – to maximize returns across asset classes.

多策略（多層）交易涉及使用各種策略的對沖基金（例如套利，長期職位和槓桿），以最大程度地利用資產類別的回報。

In bitcoin’s case, a popular multi-strat approach is the basis trade where funds buy spot BTC(often via ETFs) and short BTC futures to profit from price differences. This locks in low-risk gains when the spread is favorable.

在比特幣的情況下，一種流行的多層方法是基礎貿易，資金購買現貨BTC（通常是通過ETF）和短期BTC期貨以從價格差異中獲利。當利差有利時，這會鎖定低風險。

When profits from basis trades shrink, due to tighter spreads or market shifts , funds exit positions, selling Bitcoin and ETF shares en masse. This liquidation pressure likely amplified the sell-off, especially amid tariff-related volatility in the past week.

當基本交易的利潤縮小時，由於差點或市場變化，資金退出頭寸，出售比特幣和ETF股票。這種清算壓力可能會放大拋售，尤其是在過去一周與關稅相關的波動性的情況下。

However, a “buy-the-dip” mentality persists among bulls.

但是，公牛之間的“浸入”心態仍然存在。

“Equity valuations outside of the major large caps are relatively contained vs historical averages, and economic hard data is likely to outperform the rapid deterioration in soft data, so market consensus is that this remains a ‘buy the dip’ market while we work through the tariff volatility,” Fan added.

FAN補充說：“大型大帽子以外的股權估值相對包含與歷史平均值，經濟硬數據可能超過軟數據的快速惡化，因此市場共識是，在我們通過關稅波動工作時，這仍然是“購買浸入”市場。”