BTC價格動作傾向於瞬間“非常薄”的流動性，因為頑固的貿易範圍持久了

CPI週再次來到這裡，而美聯儲主席杰羅姆·鮑威爾（Jerome Powell）將在美國立法者面前兩次作證。關稅談話又回來了，這次涉及整個

Bitcoin (BTC) price action remained largely unremarkable at the start of the week as a weekend of modest losses gave way to equally mild gains on Monday.

比特幣（BTC）的價格行動在本週開始時仍然很大程度上不明顯，因為周末的損失適中，在周一獲得了同樣溫和的收益。

Fresh macroeconomic data from the United States failed to provide any surprises, while talk of tariff wars continued, though with little impact on crypto markets. Despite the lack of volatility, some traders eyed potential liquidity hunts and expressed optimism for an upcoming market recovery. Others highlighted the extended period of sideways trading and anticipated further time being needed before BTC/USD strength is challenged.

來自美國的新宏觀經濟數據未能提供任何驚喜，而談論關稅戰爭仍在繼續，儘管對加密貨幣市場的影響很小。儘管缺乏波動性，但一些交易員仍在註視著潛在的流動性狩獵，並對即將到來的市場恢復表示樂觀。其他人則強調了橫向交易的長時間，並預計在BTC/USD實力受到挑戰之前，需要進一步的時間。

BTC price stayed within a well-defined range as traders awaited the next market catalyst. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering around the center of its multi-month trading range on Monday, with fresh losses over the weekend largely reversing by early in the day.

當交易者在等待下一個市場催化劑時，BTC價格保持在明確的範圍內。 CoIntelegraph Markets Pro和TradingView的數據顯示，BTC/USD週一在其多個月交易範圍的中心徘徊，週末的新損失在當天早些時候大部分逆轉。

The buzz around fresh tariffs from the U.S. government also failed to spark a repeat of the intense volatility seen this time last week, with traders still waiting for the next market catalyst.

美國政府新的關稅的嗡嗡聲也未能激發上週這次的強烈波動的重複，交易員仍在等待下一個市場催化劑。

“Slow moves in the past 4 days which was normal in order to fill most wicks,” popular trader CrypNuevo summarized in a thread on X on Monday.

流行的交易者Crypnuevo在周一的X線程中總結了“過去4天的緩慢動作，這是正常的，為了填補大多數燈芯。”

The trader referred to the upcoming U.S. macroeconomic data prints, which include the Consumer Price Index (CPI) numbers for January.

交易者提到了即將到來的美國宏觀經濟數據打印，其中包括一月份的消費者價格指數（CPI）號碼。

“Orderbook is very thin at the moment, PA very slow and not seeing any strong signals to determine up or down,” he continued, giving $94,000 as a potential short-term bottom should a liquidity hunt ensue.

他繼續說：“目前訂購本非常薄，PA非常慢，沒有看到任何強烈的信號來確定上下的信號。”他繼續說，如果發生流動性狩獵，則為94,000美元作為潛在的短期底部。

Others were more optimistic, with crypto trader, analyst and entrepreneur Michaël van de Poppe eyeing potential for a marketwide recovery in the coming days.

其他人則更加樂觀，加密貨幣交易員，分析師和企業家MichaëlVande Poppe的目光投向了未來幾天的市場恢復。

“Good start of the week with upwards momentum after Monday open,” he commented, referring to current weak performance by altcoins and Ether

他評論說：“週一開放後，一周的良好開始，勢頭向上。”

Meanwhile, popular trader Poseidon characterized the situation as “in a range between 90k-110k over 3 months, but everyone is calling macro tops and bottoms in this range, while actually, nothing is happening on the weekly/monthly chart.”

同時，流行的商人波塞冬（Poseidon）將這種情況描述為“在3個月內在90k110k之間的範圍內，但每個人都在此範圍內稱宏觀上衣和底部，而實際上，每週/每月的圖表上什麼都沒有發生。”

“We are in a range, and as long as we don't break down and accept below it, I doubt we will see lower 70k,” he added, referring to Bitcoin’s 21-week exponential moving average, currently at $89,200.

他補充說：“我們處於一定範圍，只要我們不崩潰並在下面接受，我懷疑我們會看到較低的70K。”

A familiar round of U.S. macroeconomic data prints combines with testimony by Federal Reserve Chair Jerome Powell this week. Consumer Price Index (CPI) and Producer Price Index (PPI) figures for January are due on Feb. 12 and 13, respectively.

本週，美國宏觀經濟數據的一輪宏觀經濟數據印刷與美聯儲主席杰羅姆·鮑威爾（Jerome Powell）的證詞相結合。 1月份的消費者價格指數（CPI）和生產商價格指數（PPI）的數據分別為2月12日和13日。

The latter will be accompanied by unemployment claims, a weekly release that has functioned as a short-term volatility catalyst for crypto markets in recent months. Beginning on Feb. 11, Fed Chair Powell will testify before the Senate Banking Committee and House Financial Services panel.

後者將伴隨失業索賠，這是近幾個月來加密市場的短期波動催化劑的每週發行。從2月11日開始，美聯儲主席Powell將在參議院銀行委員會和眾議院金融服務小組之前作證。

The events come amid mixed inflation signals, with Powell remaining hawkish on the outlook for 2025, including any further interest rate cuts — a key issue for risk assets.

這些事件發生在混合通貨膨脹信號中，鮑威爾仍然是2025年前景的霍克什，包括任何進一步的降低利率，這是風險資產的關鍵問題。

The latest estimates from CME Group’s FedWatch Tool currently put the odds of a small 0.25% cut at the Fed’s next meeting in March at just 6.5%, down from nearly 15% a week ago.

CME Group的FedWatch工具的最新估計目前的最新估計結果是，在3月的下一次會議上，在3月的下一次會議上削減了0.25％的機率，僅為6.5％，比一周前的近15 ％下降。

Eyeing developments at the Fed, however, trading resource The Kobeissi Letter noticed a “worrisome” phenomenon playing out.

然而，在美聯儲的事態發展時，Kobeissi信的交易資源注意到了一種“令人擔憂的”現象。

The U.S. Reverse Repo Facility (RRP) has dropped to its lowest levels since early 2021 — a sign that restrictive financial policy in the form of so-called quantitative tightening, or QT, may not last much longer despite the Fed's hawkish mood.

自2021年初以來，美國反向回購設施（RRP）已下降到其最低水平，這表明以所謂的定量緊縮或QT形式進行了限制性的金融政策，儘管美聯儲的鷹派情緒可能不會持續更長的時間。

“Less money in the RRP means more money in the market. Since $2.5 trillion has been depleted, does this mean the Fed can no longer inject liquidity in the market?” Kobeissi queried in part of an X thread on the topic at the weekend.

“ RRP中的錢更少意味著在市場上更多的錢。由於2.5萬億美元已經耗盡，這是否意味著美聯儲再也無法在市場上註入流動性？” Kobeissi在周末的X線程中的一部分中詢問。

The ghost of last week’s trade war panic continues to permeate markets as the U.S. government announces further tariff plans. Targeting steel and aluminum, the blanket measures will seek to match tariffs already in place among U.S. trading partners.

隨著美國政府宣布進一步的關稅計劃，上週貿易戰恐慌的幽靈繼續滲透到市場。針對鋼鐵和鋁，毯子措施將尋求與美國貿易夥伴之間已經達到的關稅相匹配。

As a result, weakness in crypto markets was observed over the weekend, with U.S. stock futures nonetheless shrugging off the news in a key divergence from behavior seen a week ago.

結果，在周末觀察到加密貨幣市場的疲軟，儘管如此，美國股票期貨仍與一周前的行為保持關鍵的差異，但股票期貨在新聞中脫穎而出。

Clear winner in the current situation is gold, which tagged multiple new all-time highs last week and neared $2,900 per ounce for the first time on Monday. Despite traditionally following gold's trends with a several-month delay, however, Bitcoin's inability to capitalize on safe-haven appetite has not gone unnoticed.

在當前情況下，明顯的獲勝者是黃金，上週標記了多個新的歷史最高點，週一首次接近每盎司2,900美元。儘管傳統上延遲了幾個月的延遲，但傳統上遵循黃金的趨勢，但比特幣無法利用避風港的食慾，但並未引起人們的注意。

“For all of the hype and supposed adoption rate Bitcoin has received in recent years, VERY INTERESTING the $BTC has struggled to pull away from Gold,”

“對於近年來比特幣所收到的所有炒作和所謂的收養率，$ BTC一直在努力脫離黃金，非常有趣。”