風暴正在加密市場釀造

在這個星期六，圖表顯示了令人擔憂的紅色：比特幣下跌低於$ 84,000，以太坊波動約為1,880美元，XRP倒塌了5％。

The storm is brewing in the crypto market. This Saturday, the charts show a worrying red: bitcoin plunges below $84,000, Ethereum wavers around $1,880, and XRP collapses by 5%. A brutal correction, but not entirely unpredictable. Behind these figures lie complex dynamics, where on-chain data and macroeconomic factors intertwine. Decoding.

風暴正在加密市場釀造。在這個星期六，圖表顯示了令人擔憂的紅色：比特幣下跌低於$ 84,000，以太坊波動約為1,880美元，XRP倒塌了5％。殘酷的糾正，但不是完全不可預測的。這些數字的背後是複雜的動力學，其中鏈數據和宏觀經濟因素交織在一起。解碼。

Bitcoin at the forefront: the naked truth of on-chain data

比特幣處於最前沿：鍊鍊數據的裸體真相

The on-chain indicators don’t lie: demand for bitcoin is eroding. Purchase volumes have been declining since December 2023, but the drop is accelerating since mid-March.

鏈上的指標不會撒謊：對比特幣的需求正在侵蝕。自2023年12月以來，購買量一直在下降，但自3月中旬以來的下降正在加速。

The American spot ETFs, which were drivers earlier this year, are seeing their inflows dwindle. Worse: institutional investors seem to be hesitating. A caution that contrasts with the optimism of previous months.

今年早些時候是駕駛員的美國現場ETF正在看到他們的流入減少。更糟糕的是：機構投資者似乎很猶豫。與前幾個月的樂觀相反的謹慎。

At the same time, ETFs on ether are recording record outflows—over $400 million in March—a worrying signal for the altcoin market.

同時，Ether上的ETF正在錄製創紀錄的流出（3月份4億美元），這是Altcoin Market的令人擔憂的信號。

Also, XRP “whales” are ramping up their selling, fueling distrust. Result: decreasing liquidity, widening spreads, and heightened volatility.

另外，XRP“鯨魚”正在加劇他們的銷售，助長了不信任。結果：降低流動性，擴大利差和增加的波動性。

In the face of uncertainty, large portfolios are migrating. Data reveals an increase in transfers to digital gold (tokenized) and stablecoins.

面對不確定性，大型投資組合正在遷移。數據表明，向數字黃金（令牌化）和穩定的轉移增加了。

A defensive strategy that deprives the market of fresh capital. Reserves of USDT and USDC are swelling, while bitcoin loses its status as a temporary safe haven. A paradox, given that geopolitical tensions could have favored it.

一種防禦策略，剝奪了新鮮資本的市場。 USDT和USDC的儲備膨脹，而比特幣失去了其作為臨時避風港的地位。悖論，鑑於地緣政治緊張局勢可能會偏愛它。

2025 at the crossroads: V-shaped recovery or new storm?

2025在十字路口：V形恢復還是新風暴？

April 2 is approaching, and with it, the implementation of new U.S. tariffs. A sword of Damocles for cryptos.

4月2日即將到來，隨之而來的是新美國關稅的實施。一把damocles的劍。

Investors fear a global economic slowdown, likely to reduce appetite for risky assets. In this context, bitcoin becomes a barometer unwittingly: each movement reflects a battle between fears and opportunities.

投資者擔心全球經濟放緩，可能會減少對風險資產的需求。在這種情況下，比特幣在不知不覺中成為晴雨表：每個運動都反映出恐懼和機遇之間的鬥爭。

Experts are divided. For some, this correction is a healthy purge, the prelude to a V-shaped recovery by summer. Others see it as the start of a prolonged crypto winter, fueled by unpredictable regulations and stubborn inflation.

專家分裂。對於某些人來說，這種校正是一種健康的清除，是夏季V形恢復的前奏。其他人則認為這是不可預測的法規和頑固的通貨膨脹所推動的長期加密冬季的開始。

One thing is certain: technical indicators (like bitcoin’s RSI) signal an oversold market. A technical rebound is plausible, but fragile.

可以肯定的是：技術指標（如比特幣的RSI）表示超售市場。技術反彈是合理的，但脆弱。

In the face of this uncertainty, advice diverges. “Stay liquid,” suggests Marc Frison, analyst at ChainMetrics. Capital will return, but timing is key.” Others bet on DCA (dollar-cost averaging), considered less risky. Finally, seasoned traders exploit short-term futures, taking advantage of volatility.

面對這種不確定性，建議分歧。 Chainmetrics分析師Marc Frison建議：“保持液體。”資本將返回，但時機是關鍵。 ”其他人則押注DCA（美元成本平均），最終認為，經驗豐富的交易者利用了波動率。

In any case, blockchain innovation continues. In France, the Minister of Digital opens the way for Bitcoin mining.

無論如何，區塊鏈創新仍在繼續。在法國，數字部長為比特幣開採開闢了道路。

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Fascinated by Bitcoin since 2017, Evariste has continuously researched the subject. While his initial interest was in trading, he now actively seeks to understand all advances centered on cryptocurrencies. As an editor, he strives to consistently deliver high-quality work that reflects the state of the sector as a whole.

自2017年以來，Evariste著迷於比特幣，不斷研究該主題。儘管他最初的興趣是交易，但他現在積極尋求了解以加密貨幣為中心的所有進步。作為一名編輯，他努力始終如一地提供反映整個行業狀態的高質量工作。