美國和中國之間貿易緊張局勢的升級再次破壞了全球金融市場。

加密貨幣和科技股正在採取特朗普政府宣布的新關稅措施的全部影響

The escalation of trade tensions between the United States and China is once again disrupting global financial markets. Cryptocurrencies and tech stocks are taking the full impact of the new tariff measures announced by the Trump administration, which imposed duties reaching up to 245% on certain Chinese imports.

美國和中國之間貿易緊張局勢的升級再次破壞了全球金融市場。特朗普政府宣布的新關稅措施的全部影響，該措施施加了某些中國進口措施的245％。

The White House officially announced on April 15 a series of tariff measures against Chinese products, rekindling tensions with Beijing in a context of an increasingly strategic trade war.

白宮於4月15日正式宣布了針對中國產品的一系列關稅措施，在越來越多的戰略性貿易戰爭的背景下與北京重新加劇了緊張局勢。

These sanctions include a reciprocal tariff of 125%, a 20% tax related to the fentanyl crisis, and additional duties ranging from 7.5% to 100% on certain specific products.

這些制裁包括125％的相互關稅，與芬太尼危機相關的20％稅，以及某些特定產品的額外關稅範圍從7.5％到100％。

This decision marks the beginning of “a new phase of the trade war“, according to Aurélie Barthere, lead analyst at Nansen. This escalation particularly targets high value-added sectors such as technology and the pharmaceutical industry.

納森（Nansen）的首席分析師AurélieBarthere表示，這一決定標誌著“貿易戰的新階段”的開始。這種升級特別針對高增值領域，例如技術和製藥行業。

Data from Nansen show that cryptocurrencies and American stocks have been moving in strong correlation since November 2024. This downward trend intensified during the recent correction, with investors reducing exposure to assets considered risky, especially those seen as “expensive”.

Nansen的數據表明，自2024年11月以來，加密貨幣和美國股票一直在牢固地相關性。在最近的糾正期間，這種下降趨勢加劇了，投資者降低了對資產被認為風險的資產的影響，尤其是那些被視為“昂貴”的資產。

Nvidia (NASDAQ:NVDA) perfectly illustrates this situation. The American semiconductor giant saw its shares drop 8% after announcing a potential loss of $5.5 billion related to export restrictions on its H20 chips to China.

NVIDIA（NASDAQ：NVDA）完美地說明了這種情況。這家美國半導體巨頭在宣布與中國H20芯片的出口限制有關的55億美元損失後，其股票下跌了8％。

In the face of rising tariff tensions and inflation concerns, the speech by the chairman of the US Federal Reserve, Jerome Powell, at the upcoming FOMC meeting on May 6 will be closely watched.

面對關稅緊張局勢和通貨膨脹的關注，美國美聯儲主席杰羅姆·鮑威爾（Jerome Powell）在即將舉行的FOMC會議上的演講將受到密切關注。

Analysts from the exchange Bitfinex told Cointelegraph that a firm tone from Powell could trigger another drop in risk assets such as bitcoin.

Exchange Bitfinex的分析師告訴Cointelegraph，鮑威爾（Powell）的堅定語調可能會觸發比特幣等風險資產的下降。

Conversely, “a more nuanced stance could calm the markets“, which already experienced significant rebounds last week on many risk assets.

相反，“更細微的立場可以平息市場”，上週在許多風險資產上已經經歷了重大的籃板。

The crypto market volatility amid macroeconomic news does not reflect a change in fundamentals, but rather cautious positioning and shaken investor confidence.

由於宏觀經濟新聞中的加密市場波動並不反映基本面的變化，而是謹慎的定位和動搖了投資者的信心。

In this context of uncertainty, gold continues to affirm itself as the ultimate safe haven, reaching a historic high of $3,300 an ounce. Meanwhile, the bitcoin price has heavily dropped, with some analysts, including those from QCP Capital, questioning its role as a safe haven.

在這種不確定性的背景下，黃金繼續肯定自己是終極的避風港，每盎司達到3,300美元的歷史高處。同時，比特幣的價格大幅下降，其中一些分析師（包括QCP Capital的分析師）質疑其作為避風港的作用。

Finally, the recovery of the market will largely depend on the progress of tariff negotiations, with a potential resolution expected by June 2025, according to forecasts from Nansen analysts.

最後，根據Nansen分析師的預測，市場的回收將在很大程度上取決於關稅談判的進度，並預計將於2025年6月的潛在解決方案。