比特币[BTC]上周与美国股票分离，并于本周早些时候保持了趋势

比特币[BTC]上周与美国股票分离，并在本周早些时候保持了趋势。

Bitcoin [BTC] decoupled from U.S stocks last week and maintained the trend earlier this week. In fact, over the last five trading days, the cryptocurrency rallied by 5%. It went on to tap $90k during Tuesday’s early morning trading session.

比特币[BTC]上周与美国股票分离，并在本周早些时候保持了趋势。实际上，在过去的五个交易日中，加密货币增加了5％。在周二清晨的交易会议上，它继续敲击了90,000美元。

Over the same period, the S&P 500 Index (SPY) fell down by 5% while tech-heavy Nasdaq slipped by 6%.

在同一时期，标准普尔500指数（SPY）下跌了5％，而技术繁重的纳斯达克却下跌了6％。

Source: Google Finance

资料来源：Google Finance

A major decoupling?

一个主要的脱钩？

Well, this hasn’t always been the case since BTC had been moving alongwith U.S equities as a risk-on asset since February.

好吧，自BTC以来，自2月以来，BTC一直将美国股票作为一种风险资产迁移以来，情况并非总是如此。

According to the BTC Pearson Correlation (30-day) indicator, the crypto’s positive correlation to U.S stocks strengthened from late February.

根据BTC Pearson的相关性（30天）指标，加密货币与美国股票的正相关从2月下旬加强。

Source: The Block

来源：块

However, from 15 April, BTC decoupled from the S&P 500 and the Nasdaq Composite. Afterwards, it correlated positively with gold, suggesting it began behaving as a ‘risk-off asset’ or ‘safe haven’ trade from mid-April.

但是，从4月15日开始，BTC与标准普尔500指数和纳斯达克复合材料分离。之后，它与黄金呈正相关，表明它开始表现为4月中旬的“冒险资产”或“避风港”贸易。

In fact, in a recent CNBC interview, market analyst and FundStrat CIO Tom Lee said,

实际上，在最近一次CNBC采访中，市场分析师和FutdStrat Cio Tom Lee说，

“BTC is going to catch up to gold. Its ATH was over $100K. There’s room to catch up as a non-dollar asset.”

“ BTC将赶上黄金。它的ATH超过10万美元。有空间可以作为非美元资产。”

He noted that the recent de-leveraging of U.S dollar-based assets (sell-off) was over and could boost BTC going forward.

他指出，最近基于美元的资产（抛售）的去杠杆化已经结束，并且可以提高BTC的前进。

For Galaxy Digital’s Head of Research Alex Thorn, Bitcoin’s decoupling trend from U.S stocks is remarkable. However, he warned that it wouldn’t last.

对于Galaxy Digital的研究主管Alex Thorn而言，比特币与美国股票的脱钩趋势非常出色。但是，他警告说这不会持续。

The sustained sell-off in the U.S dollar and U.S stocks has been driven by ongoing threats by President Donald Trump to fire Fed chair Jerome Powell for being “too late” to cut interest rates.

唐纳德·特朗普（Donald Trump）总统持续威胁杰罗姆·鲍威尔（Jerome Powell）持续的威胁杰罗姆·鲍威尔（Jerome Powell）持续的威胁，持续的售罄和美国股票的销售是为了降低利率。

Most analysts view Trump’s move as a breach of Fed independence. This has dented confidence and sparked a mass investor exodus from U.S markets to gold, BTC, and other markets.

大多数分析师都将特朗普的举动视为违反美联储独立性的行为。这已经掩盖了信心，并引发了从美国市场到黄金，BTC和其他市场的大规模投资者出埃及记。

For its part, Gold knocked a new all-time high of $3.5k per ounce and BTC pumpped harder. In 2025 so far, Bitcoin has lagged behind gold and shed over 35% of its value. Whether the renewed ‘safe haven’ trade will tip it to regain lost ground against gold remains to be seen.

就其本身而言，Gold击败了每盎司3.5K $ 3.5K的新高点，而BTC则更加努力。到目前为止，到目前为止，比特币落后于黄金，降低了其价值的35％以上。续签的“避风港”贸易是否会给它带来重新夺回对黄金的失落的地面。

Source: BTC/gold, TradingView

资料来源：BTC/Gold，TradingView