比特幣從一周開始的$ 81,800開始，在過去24小時內下降了1.98％

持續下降的下降已經引發了大約2.2億美元的清算加密貨幣頭寸，將比特幣的下部低點延伸到連續第七天。

Bitcoin price slipped further on Monday, extending its streak of lower lows to a seventh consecutive day as sustained declines triggered roughly $220 million in liquidated crypto positions.

比特幣價格在周一進一步下跌，將其較低低點的連勝延長到連續第七天，因為持續下降的下降觸發了大約2.2億美元的清算加密貨幣頭寸。

Bitcoin began the week at around $81,800, marking a 1.98% decrease over the past 24 hours. This continues a weeklong downtrend that has seen the asset fall over 7% from its March 25 local peak of $88,400.

比特幣在本週開始的價格約為81,800美元，在過去24小時內下降了1.98％。這持續了為期一周的下降趨勢，該資產從3月25日的當地峰值88,400美元下降了7％。

The sustained decline has triggered roughly $220 million in liquidated crypto positions, according to CCChartData. These liquidations were largely concentrated on leveraged long positions in BTC, suggesting that traders were heavily betting on the asset to continue rallying. However, the anticipation of former President Donald Trump’s “Liberation Day” on April 2, during which he is expected to unveil sweeping “reciprocal tariffs,” has triggered a derisking trend across spot markets.

根據CCCHARTDATA的說法，持續下降的持續下降已引發了大約2.2億美元的清算加密貨幣職位。這些清算主要集中在BTC的槓桿率高點上，這表明交易者大量投注資產繼續集會。但是，對前總統唐納德·特朗普（Donald Trump）在4月2日的“解放日”的期望，在此期間，他預計將宣傳“互惠關稅”，這引發了整個現貨市場的趨勢。

This derisking move reduces demand and increases investor hesitation, ultimately contributing to further price declines.

這一令人震驚的舉動減少了需求並增加了投資者的猶豫，最終導致了進一步的價格下降。

The global crypto market capitalization has dropped to $2.65 trillion, a 1.77% decrease over the same 24-hour period, while daily trading volume has fallen by 1.4% to $57 billion.

全球加密市值已降至2.6.5萬億美元，在同一24小時內下降了1.77％，而每日交易量下降了1.4％，至570億美元。

Macroeconomic Stress and Tariff Uncertainty Erode Market Confidence

宏觀經濟壓力和關稅不確定性侵蝕市場信心

The buildup of macroeconomic anxiety and the threat of U.S. tariffs have weighed heavily on both crypto and traditional financial markets.

宏觀經濟焦慮的積累和美國關稅的威脅在加密和傳統金融市場上都嚴重打擊。

Rising trade tensions and the threat of a U.S. recession are prompting institutions and traders to unwind risky positions and seek safer assets, leading to selling pressure across equities and cryptocurrencies.

貿易緊張局勢的上升和美國經濟衰退的威脅促使機構和交易者放鬆危險的立場並尋求更安全的資產，從而導致股票和加密貨幣的銷售壓力。

Core PCE data released last week indicated higher-than-expected inflation, while consumer confidence declined to its lowest level in over a decade.

上週發布的核心PCE數據表明，通貨膨脹率高於預期，而消費者的信心在十年來下降到了其最低水平。

Additionally, Goldman Sachs has raised its recession forecast from 20 percent to 35 percent due to elevated geopolitical and economic risk. This unbalanced view of the U.S. economy, tipped toward negative outlooks and difficulties, is rendering traditional safe-haven assets like gold more attractive.

此外，由於地緣政治和經濟風險升高，高盛將其經濟衰退預測從20％提高到35％。美國經濟的這種不平衡的看法，朝著負面的前景和困難方面傾向於，使傳統的避行資產（如黃金）更具吸引力。

The PCE price index rose 4.7% year-over-year in February, higher than the expected 4.3% and up from January's 4.6% increase. This was the largest annual gain since the third quarter of 2022.

2月份的PCE價格指數同比增長4.7％，高於預期的4.3％及以上4.6％的增長4.3％。這是自2022年第三季度以來最大的年收益。

The price index exluding food and energy rose 3.8% year-over-year in February, meeting expectations and slowing from January's 3.9% increase. This was the smallest annual gain in two years.

2月份的糧食和能源的價格指數同比增長了3.8％，達到了預期，並從1月份增長3.9％的增長速度下降。這是兩年來最小的年收益。

Finally, the month-over-month increase in PCE was 0.5% in February, higher than the expected 0.3% and December's 0.1% increase. This was the largest monthly gain since May 2022.

最後，2月份的PCE月度增長為0.5％，高於預期的0.3％，而12月的0.1％則增長了0.1％。這是自2022年5月以來最大的月收益。

This unbalanced view of the U.S. economy, tipped toward negative outlooks and difficulties, is rendering traditional safe-haven assets like gold more attractive.

美國經濟的這種不平衡的看法，朝著負面的前景和困難方面傾向於，使傳統的避行資產（如黃金）更具吸引力。

The sustained decline in Bitcoin price coincides with widespread losses across the broader digital asset market.

比特幣價格的持續下降與整個更廣泛的數字資產市場的普遍損失相吻合。

The global crypto market capitalization has dropped to $2.65 trillion, a 1.77% decrease over the same 24-hour period, while daily trading volume has fallen by 1.4% to $57 billion.

全球加密市值已降至2.6.5萬億美元，在同一24小時內下降了1.77％，而每日交易量下降了1.4％，至570億美元。

'Liberation Day' Set to Test Market Resilience

“解放日”將測試市場的彈性

The upcoming tariff announcement will likely be a key inflection point for crypto and broader financial markets.

即將到來的關稅公告可能是加密和更廣泛的金融市場的關鍵拐點。

Trump’s April 2 “Liberation Day” promises tariff hikes designed to reduce U.S. dependence on foreign goods, with targets including the European Union, South Korea, Brazil, and India, as CNBC reported.

特朗普在4月2日的“解放日”承諾，旨在減少我們對外國商品的依賴的關稅加息，包括歐盟，韓國，巴西和印度在內的目標，如CNBC報導。

Goldman Sachs projects these duties could raise inflation and unemployment while stalling economic growth. Their forecast includes a potential increase in tariff rates by 15 percentage points, although carveouts for certain products and countries could reduce the effective increase to 9 percentage points.

高盛（Goldman Sachs）預計，這些職責可能會增加通貨膨脹和失業，同時削弱經濟增長。他們的預測包括關稅率的潛在提高15個百分點，儘管某些產品和國家的分解可能會將有效增加到9個百分點。

According to Reuters, the immediate market impact will depend on the breadth and timeline of tariff implementation, particularly whether other nations respond in kind. If retaliation occurs, it could initiate a feedback loop of escalating trade restrictions.

據路透社報導，直接市場的影響將取決於關稅實施的廣度和時間表，尤其是其他國家是否以實物做出回應。如果發生報復，它可能會引發貿易限制的反饋迴路。

This scenario poses a significant challenge to traders and institutions, who must navigate an unpredictable political landscape with the potential for rapid shifts in market trends.

這種情況對貿易商和機構構成了重大挑戰，他們必須駕駛不可預測的政治格局，並可能快速轉移市場趨勢。

If other countries retaliate with their own tariffs or trade restrictions, it could lead to a vicious cycle of escalating trade tensions. This scenario would likely increase market volatility and create difficulties for traders and institutions to manage their positions and investments.

如果其他國家對自己的關稅或貿易限制進行報復，則可能導致貿易緊張局勢升級的惡性循環。這種情況可能會增加市場波動，並為交易者和機構管理其頭寸和投資帶來困難。

On the other hand, if other countries do not retaliate and accept the U.S. tariffs, the immediate impact might be less severe. However, the long-term consequences of these tariffs on global trade flows and economic interdependence remain a pressing concern.

另一方面，如果其他國家不進行報復和接受美國的關稅，那麼直接影響可能會不會那麼嚴重。但是，這些關稅對全球貿易流量和經濟相互依存的長期後果仍然是一個緊迫的關注點。

Ultimately, the coming days will be critical for assessing resilient investor sentiment in the face of potential policy shocks and persistent macro headwinds

最終，面對潛在的政策衝擊和持續的宏觀逆風，接下來的日子對於評估彈性投資者情緒至關重要