供需平衡以錯誤的方式傾斜

更廣泛的市場對美國關稅的反應表明，如果美國BTC-SPOT ETF開始報告大量流出，BTC可能面臨著銷售壓力的加劇。

The broader market is reacting poorly to US tariffs, which could lead to increased selling pressure on BTC if US BTC-spot ETFs begin reporting significant outflows.

更廣泛的市場對美國關稅的反應較差，如果美國BTC-SPOT ETF開始報告大量外流，這可能會導致BTC的銷售壓力增加。

On January 31, the US BTC-spot ETF market reported net inflows of $318.6 million, contributing to weekly inflows of $559.5 million. While this trend has supported BTC demand, sustained outflows could erode investor confidence and cast doubt on the feasibility of a US Strategic Bitcoin Reserve (SBR).

1月31日，美國BTC-SPOT ETF市場報告說，淨流入量為3.86億美元，每周流入5.595億美元。儘管這種趨勢支持了BTC需求，但持續的流出可能會侵蝕投資者的信心，並對美國戰略比特幣儲備（SBR）的可行性產生懷疑。

In late 2024, Senator Cynthia Lummis, Chair of the Senate Banking Subcommittee on Digital Assets, introduced the Bitcoin Act. The bill proposes that the US government acquire one million BTC over five years, with a mandatory holding period of 20 years.

2024年下半年，參議院銀行資產小組委員會主席辛西婭·盧米斯（Cynthia Lummis）提出了《比特幣法》。該法案建議，美國政府在五年內收購了100萬BTC，其強制性持有期限為20年。

The designation of an asset for a strategic reserve is subject to approval by Congress, the Federal Reserve, the Treasury Department, and the President.

戰略儲備的資產指定必須獲得國會，美聯儲，財政部和總統的批准。

BTC's recent price sensitivity to Fed monetary policy and government actions highlights its susceptibility to macroeconomic developments.

BTC最近對貨幣政策和政府行動的價格敏感性強調了其對宏觀經濟發展的敏感性。

Bitcoin Price Outlook

比特幣價格前景

On February 2, BTC slid by 3.13%, following Saturday's 1.54% loss, closing at $97,882.

2月2日，BTC在周六的1.54％虧損之後下跌3.13％，收於97,882美元。

Multiple factors will dictate BTC's near-term trajectory, including Trump's policies, the Fed rate path, and US BTC-spot ETF flows.

多個因素將決定BTC的近期軌跡，包括特朗普的政策，美聯儲利率路徑和美國BTC-SPOT ETF流。