Binance Research强调了加密市场对关税升级的反应

2025年初，美国通过对来自众多国家的进口征收大量关税，开始了全球贸易动力的重大转变。

Early 2025 saw the United States ramp up protectionist policies with broad tariffs on goods entering the country, an action that could have implications for the cryptocurrency market.

2025年初，美国提高了贸易保护主义政策，对进入该国的货物的关税广泛关税，这一行动可能会对加密货币市场产生影响。

The Trump administration implemented a 10% tariff on all goods entering the United States starting April 5, in a move to restore U.S. trade fairness and sovereignty.

特朗普政府从4月5日开始对进入美国的所有商品征收10％的关税，以恢复美国的贸易公平和主权。

Canada and Mexico were already subjected to 20% duties earlier in the year. These measures brought the average U.S. import tax to around 18.8%, a significant increase from the 2.5% average in 2024. In response, affected countries set their own tariffs on U.S. goods, escalating global trade tensions further.

加拿大和墨西哥今年早些时候已经履行20％的职责。这些措施使美国进口税的平均税率达到18.8％，比2024年的平均2.5％显着增长。响应，受影响的国家对美国商品的关税设定了关税，从而进一步升级了全球贸易紧张局势。

Investors are also keeping an eye on the U.S. bond market, where a portion of the yield curve showed a troubling dislocation. The spread between 10-year and 2-year Treasury yields—and between 30-year and 2-year bonds—widened on April 9 to levels last seen in 2022, indicating deep market unease.

投资者还密切关注美国债券市场，其中一部分收益曲线显示出令人不安的脱位。 4月9日的差价在10年和2年期债券之间，以及30年期和2年期债券之间的差异，达到了2022年最后一次出现的水平，表明市场不安。

Just a day prior, the Treasury’s $58 billion 3-year note auction saw weak demand. However, strong interest at the $39 billion 10-year bond auction on Monday offered some relief. The market is now bracing for the $22 billion 30-year auction, with macro uncertainty still looming.

就在一天前，财政部的580亿美元的3年票据拍卖的需求较弱。但是，周一进行了390亿美元的10年债券拍卖的浓厚兴趣给您带来了一些缓解。现在，市场正在付出220亿美元的30年拍卖，宏观不确定性仍然迫在眉睫。

The cryptocurrency market has experienced significant volatility in response to these trade policies.

加密货币市场在响应这些贸易政策方面经历了显着波动。

Following the tariff announcements, the total crypto market capitalization declined by an estimated 25.9% from January highs, equating to a loss of approximately $1 trillion. This downturn reflects the market’s sensitivity to macroeconomic instability.

关税公告后，加密货币市值的总计估计下降了25.9％，比一月份的高点相当于损失约1万亿美元。这种低迷反映了市场对宏观经济不稳定的敏感性。

Bitcoin, often regarded as a digital safe-haven asset, demonstrated relative resilience amid the turmoil. Despite a 19.1% drop since January’s peak, Bitcoin outperformed many altcoins and traditional equities.

比特币通常被视为数字避风港资产，在动荡中表现出相对的弹性。尽管自一月份的高峰以来下降了19.1％，但比特币的表现优于许多Altcoins和传统股票。

Notably, long-term holders continued to accumulate Bitcoin, indicating confidence in its long-term value. This behavior suggests that Bitcoin may be reaffirming its role as a hedge against economic uncertainty.

值得注意的是，长期持有人继续积累比特币，表明其长期价值的信心。这种行为表明比特币可能会重申其作为对冲经济不确定性的作用。

Key Factors That Could Affect Crypto Market Trends In Coming Months:

可能影响未来几个月加密市场趋势的关键因素：