加密市場表現不佳，比特幣和大多數加密貨幣都在技術熊市中保留

比特幣（BTC）從1月份的109200美元的歷史高處跌至82000美元。同樣，XRP價格從2025年的高點開始崩潰了38％以上

The crypto market isn’t performing well, with Bitcoin and most cryptocurrencies remaining in a technical bear market after declining by over 20% from their recent highs.

加密市場的表現不佳，比特幣和大多數加密貨幣在技術熊市中仍然存在於最近的高點以上。

All cryptocurrencies tracked by CoinGecko lost over $1 trillion in value in the first quarter of the year.

Coingecko追踪的所有加密貨幣在今年第一季度損失了超過1萬億美元的價值。

BTC, XRP, HBAR, JASMY, and Other Altcoins Crashed

BTC，XRP，HBAR，JASMY和其他Altcoins崩潰了

Bitcoin (BTC) has plunged from its all-time high of $109,200 in January to $82,000.

比特幣（BTC）從1月的109,200美元的歷史高處跌至82,000美元。

Meanwhile, the XRP price has crashed by over 38% from its 2025 highs, while other popular coins like Hedera Hashgraph (HBAR), JasmyCoin (JASMY), and Ethena (ENA) have plunged by over 50% from their November 2021 highs.

同時，XRP價格從2025年的高點起崩潰了38％以上，而其他受歡迎的硬幣（如Hedera Hashgraph（HBAR），Jasmycoin（Jasmycoin（Jasmy）和Ethena（Ena））從2021年11月的高點開始跌至50％以上。

The main topic investors are discussing is Donald Trump’s economic policies, including government cost cuts and tariffs.

投資者正在討論的主要主題是唐納德·特朗普的經濟政策，包括政府削減成本和關稅。

He has announced a set of numerous tariffs this year. He imposed a 25% tariff on all imported steel and aluminum, and last week, he announced a 25% tariff on all vehicles imported to the US.

他今年宣布了一系列的關稅。他對所有進口鋼和鋁徵收了25％的關稅，上週，他宣布對向美國進口的所有車輛徵收25％的關稅。

Trump has also increased tariffs on Canadian and Mexican goods from nearly zero to 25%. On Wednesday, he will announce his Liberation Day reciprocal tariffs on goods from other countries.

特朗普還將加拿大和墨西哥商品的關稅從近零增加到25％。在星期三，他將宣布他的解放日對來自其他國家的商品的相互關稅。

These tariffs are an unpredictable event with significant consequences, often referred to as a “black swan event,” due to their implications on the US and the global economy. For one, there is a risk that these tariffs will lead to a recession by affecting consumer confidence. Data released last week showed that consumer confidence plunged in March.

這些關稅是一個不可預測的事件，其後果很大，通常被稱為“黑天鵝事件”，因為它們對美國和全球經濟的影響。首先，這些關稅會通過影響消費者的信心而導致衰退的風險。上週發布的數據顯示，消費者的信心在3月跌落。

Top 4 Crypto to Buy With the Most Bullish Crowd Sentiment

以最看漲的人群情緒購買的前4個加密貨幣

Impact of Trump’s Liberation Day Tariffs on Bitcoin and Altcoins

特朗普解放日的關稅對比特幣和山寨幣的影響

In context, the most likely scenario involves these Trump tariffs leading to a strong decline in stocks and cryptocurrencies.

在上下文中，最有可能的情況涉及這些特朗普的關稅，導致股票和加密貨幣大幅下降。

Indeed, the S&P 500, Nasdaq 100, Dow Jones, and the Russell 2000 indices have moved into a correction. The tech-heavy Nasdaq 100 index has even formed a death cross, indicating a strong bearish breakdown.

的確，標準普爾500指數，納斯達克100，道瓊斯和羅素2000指數已經進行了更正。納斯達克高科技的100指數甚至形成了死亡十字架，表明看跌強烈。

Similarly, the crypto market, where currencies like BTC, HBAR, and XRP have entered a bear market.

同樣，加密市場（BTC，HBAR和XRP）貨幣進入了熊市。

However, there is a likelihood that crypto and stocks will rebound when the reciprocal tariffs come into effect. This is because these tariffs might trigger a recession in the US, which can be advantageous for risky assets.

但是，當相互關稅生效時，加密貨幣和股票很有可能會反彈。這是因為這些關稅可能會引髮美國的衰退，這對於風險資產可能是有利的。

Lots of attention to Goldman raising its recession forecast to 35%. Less over them raising their inflation forecast.Cut rates with rising inflation will be taken badly by the bond market. Remember the bond yield reaction to the rate cuts in September? They went straight up.

對高盛將其衰退預測提高到35％的關注。債券市場將不斷提高通貨膨脹的預測，而增加通貨膨脹率會增加。還記得9月對降低率的債券收益反應嗎？他們挺直地走了。

A recession in the US will likely motivate the Federal Reserve to intervene by reducing interest rates and implementing quantitative easing (QE). Quantitative easing is a scenario where the Fed prints cash and buys bonds and mortgage-backed securities.

美國的經濟衰退可能會激勵美聯儲通過降低利率和實施定量緩解（QE）來進行干預。量化寬鬆是美聯儲打印現金併購買債券和抵押支持證券的情況。

Historically, Bitcoin and other cryptocurrencies such as XRP and HBAR perform well when the Fed is reducing rates. A notable example of this occurred in 2020 when the economy entered a recession due to the COVID-19 pandemic.

從歷史上看，當美聯儲降低率時，比特幣和其他加密貨幣（例如XRP和HBAR）的表現良好。一個值得注意的例子發生在2020年，當時經濟因19日大流行而進入衰退。

The Fed’s rate cuts post-Global Financial Crisis (GFC) in 2009 led to a stock market boom.

美聯儲的費率削減了2009年全球金融危機（GFC）導致股市繁榮。