加密貨幣市場面臨著動蕩的Q1 2025

加密貨幣市場面臨著動蕩的Q1 2025，比特幣（BTC），以太坊（ETH）和山寨幣（Ethereum（ETH））和山寨幣（Altcoins）遭受了陡峭的校正

The cryptocurrency market encountered turbulent times in Q1 2025, with Bitcoin (BTC), Ethereum (ETH), and altcoins sustaining significant losses amid escalating global economic tensions.

在2025年第1季度，加密貨幣市場遇到了動蕩的時代，比特幣（BTC），以太坊（ETH）和Altcoins在全球經濟緊張局勢升級時遭受了巨大損失。

According to a recent report by digital asset research firm Kaiko, the crypto market’s average weekly trading volumes on major exchanges plummeted by more than 30% quarter-on-quarter. These declines were particularly pronounced in offshore exchanges, indicating reduced levels of participation and potentially signaling investors’ growing caution.

根據數字資產研究公司Kaiko最近的一份報告，加密貨幣市場在主要交易所的平均每週交易量下降了超過30％的四分之一季度。這些下降在離岸交易所中尤為明顯，表明參與水平降低，並有潛在地發出了投資者的謹慎態度。

Key altcoins faced even steeper price declines, with the report highlighting that altcoins sustained losses exceeding 50% during the quarter.

主要的Altcoins面臨更高的價格下降，該報告強調，該季度的替代幣損失超過50％。

Among the world’s top six altcoins, Cardano’s ADA token exhibited multi-year highs in volatility. Additionally, the report noted that ETH and Solana (SOL) encountered sustained downward pressure throughout the quarter.

在世界排名前六的山寨幣中，卡爾達諾（Cardano）的ADA代幣展現了多年的波動性。此外，該報告指出，ETH和SOLANA（SOL）在整個季度遇到了持續的向下壓力。

In contrast to the triple-digit losses seen in altcoins, BTC’s price movements were less extreme. After reaching a record high above $90,000 in January, BTC is now down 25% from its peak and is currently trading at around $82,000.

與AltCoins中看到的三位數損失相反，BTC的價格變動不那麼極端。在一月份達到了紀錄高於90,000美元以上的創紀錄之後，BTC現在的峰值下降了25％，目前的交易價格約為82,000美元。

As investors process the implications of Donald Trump’s return to the White House and the market optimism that quickly faded with a surge in geopolitical uncertainty and volatile tariff announcements, they are becoming increasingly risk-averse, largely contributing to the crypto market’s downturn.

隨著投資者處理唐納德·特朗普（Donald Trump）返回白宮的影響，以及隨著地緣政治不確定性和波動性關稅公告激增的迅速消失的市場樂觀情緒，他們正變得越來越避免風險，這在很大程度上促進了加密貨幣市場的下降。

President Trump’s re-introduction of aggressive trade tariffs has had a significant impact on financial markets. While the president anticipates these policies will cause short-term pain, his administration maintains that it’s a necessary move for long-term economic stability.

特朗普總統重新引入了積極的貿易關稅，對金融市場產生了重大影響。總統預計這些政策將引起短期痛苦，但他的政府堅持認為這是長期經濟穩定的必要舉措。

As markets navigate this period of heightened volatility, the crypto space has also been affected. The Kaiko report highlights that offshore exchanges experienced a steeper decline in activity, whereas U.S.-based platforms like Coinbase, Kraken, and CEX.IO helped buffer BTC’s liquidity to a greater extent thanks to stronger market depth. Despite this resilience, investor confidence remains shaky.

隨著市場駕駛這一時期的波動性，加密貨幣空間也受到了影響。 Kaiko報告強調，近海交易所的活動下降幅度急劇下降，而Coinbase，Kraken和Cex.io等美國的平台則在更大程度上幫助BTC的流動性得益於更強的市場深度。儘管具有這種韌性，但投資者的信心仍然搖搖欲墜。

Chicago Fed President Austan Goolsbee has raised red flags, comparing the current environment to early COVID-19 market conditions. He warns that a sustained collapse in investor sentiment could damage broader economic stability, especially as the U.S. economy is still recovering.

芝加哥美聯儲總統奧斯坦·古爾斯比（Austan Goolsbee）提出了危險信號，將當前的環境與庫維德（Covid）早期的市場狀況進行了比較。他警告說，投資者情緒持續崩潰可能會損害更廣泛的經濟穩定，尤其是在美國經濟仍在恢復中。

However, despite the gloomy outlooks from economists and the pessimistic signals from the market, some analysts remain optimistic about BTC’s price potential in the coming months.

然而，儘管經濟學家和市場上的悲觀信號的看法令人沮喪，但一些分析師仍然對BTC在未來幾個月的價格潛力保持樂觀。

After hitting a local high of $88,624 on March 24, BTC experienced a decline below $80,000. Nonetheless, the world’s leading cryptocurrency has since rebounded slightly and is currently trading above $82,000.

在3月24日達到了88,624美元的當地高點之後，BTC的下降低於80,000美元。儘管如此，此後，全球領先的加密貨幣略有反彈，目前的交易價格超過82,000美元。

As BTC hovers above a critical support level and analysts from FxPro and CryptoQuant offer their insights, the door remains open for either a bullish continuation or a bearish reversal.

隨著BTC徘徊在關鍵的支持水平上，FXPRO和CryptoQuant的分析師提供了他們的見解，因此對於看漲的延續或看跌的逆轉，門仍然開放。

According to FxPro’s senior market analyst Alexander Kuptsikevich, Bitcoin is still testing the upper boundary of a long-standing correction trend, having moved in a downward channel since February 2024. A breakout above the $84,000-$85,000 resistance could set up a continuation of the broader uptrend, potentially opening the way for a rally to $96,000. Conversely, anything below the $78,000-$79,000 support could invalidate bullish expectations and suggest further weakness ahead.

根據FXPRO的高級市場分析師亞歷山大·庫普西克維奇（Alexander Kuptsikevich）的說法，比特幣仍在測試長期校正趨勢的上限，自2024年2月以來，它已經在向下的渠道中移動了。超過84,000-85,000美元的抵抗力的突破可能會延續更廣泛的上升，並有潛在地向上開放，從而使一場比賽的速度啟動至96,000美元。 966,000美元。相反，低於$ 78,000- $ 79,000的支持可能會使看漲期望無效，並提出進一步的弱點。

Meanwhile, CryptoQuant analyst Ben Ritchie highlights that BTC must reclaim the $85,000-$86,000 level to regain positive momentum. Until then, Bitcoin remains locked in a range, with its price movements being largely driven by macro-economic uncertainty and, more recently, tariff-related fear.

同時，加密分析師Ben Ritchie強調，BTC必須收回$ 85,000- $ 86,000的水平才能恢復積極的勢頭。在此之前，比特幣仍然被鎖定在一定範圍內，其價格變動主要是由宏觀經濟不確定性驅動的，並且最近與關稅相關的恐懼。

After hitting a critical demand zone at $1,387 in December 2024, Ethereum (ETH) experienced a substantial recovery, rallying to new all-time highs in January 2025.

在2024年12月，以太坊（ETH）達到關鍵需求區為1,387美元之後，經歷了大量的恢復，並在2025年1月提高了新的歷史最高點。

However, ETH’s recovery has been fragile, and the cryptocurrency is now facing renewed selling pressure as macroeconomic headwinds escalate.

但是，ETH的複蘇一直很脆弱，隨著宏觀經濟逆風的升級，加密貨幣現在正面臨著新的銷售壓力。

ETH price is approaching historical demand zone

ETH價格正在接近歷史需求區

As ETH trades below $1,500 once again, analysts at crypto derivatives trading firm MTX are highlighting the MVRV Extreme Deviation Bands. These Bands measure the difference between an asset’s market price and its realized price (the average price at which coins last changed hands).

隨著ETH再次低於1,500美元的交易，加密衍生品交易公司MTX的分析師正在強調MVRV極端偏差頻段。這些樂隊衡量了資產的市場價格與已實現的價格之間的差異（硬幣上次易手的平均價格）。

According to MTX, ETH is nearing the -1 standard deviation pricing band at $1,387. Throughout the previous bull and bear markets, ETH has typically found support at this price level, which is also the lower bound of the critical Accumulation Zone, indicating potential hyper-accumulation activity in this price region.

根據MTX的說法，ETH接近-1標準偏差定價頻段，價格為1,387美元。在以前的牛市和熊市中，ETH通常在此價格水平上找到了支持，這也是關鍵積累區的下限，表明該價格區域的潛在超積累活動。

Moreover, ETH’s realized price currently stands at $2,005. This suggests that, in the short-term, at least, there might be

此外，ETH的實現價格目前為2,005美元。這表明至少在短期內，