在唐納德·特朗普（Donald Trump）威脅對中國，墨西哥和加拿大徵收關稅的威脅之後，比特幣暴跌了15％以上

在美國前總統唐納德·特朗普（Donald Trump）威脅向中國，墨西哥和加拿大徵收新的關稅之後，比特幣跌幅超過15％。

Bitcoin (BTC) plunged more than 15% following former U.S. President Donald Trump’s threat to impose new tariffs on China, Mexico, and Canada. According to Farside Investors, U.S.-based spot Bitcoin ETFs saw over $3.5 billion in outflows since February 3. The market reacted immediately, with Bitcoin falling to around $86,400 by March 5. Here are three possible reasons for Bitcoin's recent struggles:

在美國前總統唐納德·特朗普（Donald Trump）威脅對中國，墨西哥和加拿大徵收新的關稅的威脅之後，比特幣（BTC）下跌了15％以上。根據Farside Investors的說法，自2月3日以來，總部位於美國的現貨比特幣ETF的外流超過35億美元。市場立即做出反應，到3月5日到3月5日，比特幣下降到約86,400美元。這是比特幣最近掙扎的三個可能原因：

1) Economic uncertainty drives risk-off sentiment

1）經濟不確定性推動了冒險情緒

1）經濟不確定性推動了冒險情緒

Trump’s plans to reintroduce tariffs on Canada, Mexico, and China sparked concerns of a potential “Trumpcession.” The tariffs, which will be 25% on Canada and Mexico, and 10% on Chinese imports, come after a period of heightened risk appetite in financial markets. However, the macroeconomic outlook quickly shifted, with Trump’s tariffs and the looming threat of a U.S. default on its debt obligations putting investors in a risk-off mood.

特朗普計劃重新引入加拿大，墨西哥和中國的關稅，引起了人們對潛在“王牌”的擔憂。在金融市場上的風險增強之後，對加拿大和墨西哥的關稅將為25％，而中國進口的關稅則為10％。但是，宏觀經濟的前景很快發生了變化，特朗普的關稅和美國違約債務義務的威脅迫在眉睫，這使投資者處於冒險的情緒。

This led to selloffs in risk assets, including Bitcoin. As reported by Binance Research, during Trump’s 2019 trade war with China, Bitcoin surged as Chinese traders used it to bypass capital controls. But this time, Bitcoin is behaving like a traditional risk asset. Its 30-week correlation with the Nasdaq reached 0.91, showing it is now moving in tandem with equities.

這導致了包括比特幣在內的風險資產的拋售。據Binance Research報導，在特朗普2019年與中國的貿易戰期間，中國貿易商用它繞過資本管制時，比特幣激增。但是這次，比特幣的行為就像是傳統的風險資產。它與納斯達克的30週相關性達到0.91，顯示它現在與股票同行。

JPMorgan (JPM) has since turned “tactically bearish” on U.S. stocks, adding further downside pressure on Bitcoin.

此後，摩根大通（JPM）（JPM）對美國股票變成了“戰術上看跌”，增加了比特幣的下行壓力。

2) 24/7 trading exacerbates market volatility

2）24/7交易加劇市場波動

2）24/7交易加劇市場波動

Unlike stock markets, Bitcoin trades around the clock, making it highly responsive to macroeconomic developments. When Trump’s tariff plans were confirmed over the weekend, crypto traders sold off before stock markets could react. This rapid reaction drove Bitcoin to a three-week low on February 3, wiping out over $1 trillion in crypto market value.

與股票市場不同，比特幣全天交易，使其對宏觀經濟發展的反應很高。當特朗普在周末確認特朗普的關稅計劃時，加密貨幣交易者在股票市場做出反應之前就出售了。這種快速的反應使比特幣在2月3日降低了三週的低點，消除了超過1萬億美元的加密貨幣市場價值。

Conversely, when Trump announced the creation of a U.S. crypto strategic reserve on March 3, Bitcoin jumped 9.58%, marking its strongest daily gain since November 2024. This pattern shows how Bitcoin’s 24/7 trading amplifies price swings in response to policy shifts.

相反，當特朗普在3月3日宣布創建美國加密貨幣戰略儲備時，比特幣躍升了9.58％，標誌著其自2024年11月以來的每日增長最強。這種模式顯示了比特幣的24/7交易方式如何響應政策轉變來響應價格下跌。

3) Global investors turn to other safe havens

3）全球投資者轉向其他避風港

3）全球投資者轉向其他避風港

Instead of seeking refuge in Bitcoin, investors pivoted to fiat alternatives. While both Bitcoin and the U.S. dollar weakened, the euro and gold strengthened following Trump’s tariff announcement. The Japanese yen also saw a 4.5% rise, signaling that traders preferred traditional safe-haven assets.

投資者沒有尋求比特幣的避難所，而是樞紐的菲亞特替代品。儘管比特幣和美元都減弱了，但在特朗普的關稅宣布之後，歐元和黃金也加強了。日元還增加了4.5％的增長，這表明交易者更喜歡傳統的安全資產。

If economic fears continue, Bitcoin could struggle to regain its status as a hedge against uncertainty.

如果經濟恐懼持續下去，比特幣可能會努力恢復其作為對沖不確定性的地位。

Bitcoin’s future trajectory will likely depend on broader financial conditions. At the time of writing, Bitcoin is sitting at $88,460.00.

比特幣的未來軌跡可能取決於更廣泛的財務狀況。在寫作時，比特幣的價格為88,460.00美元。