比特币（BTC）市场将面临深深的经济风暴的余震，直到4月

自1月以来，关税的幽灵一直在迫在眉睫。唐纳德·特朗普（Donald Trump）关于中国进口的宣布导致比特币下降了17％。

Crypto markets will be facing the aftershocks of a deep-rooted economic storm until April. An explosive mix of geopolitical tensions and rigid interest rates is stifling risk appetite. But behind this chaos lie opportunities. Decoding.

加密货币市场将面对一个根深蒂固的经济风暴的余震，直到4月。地缘政治紧张局势和严格的利率的爆炸性结合正在扼杀风险食欲。但是这种混乱的背后谎言机会。解码。

Trade wars: a predictable but devastating cyclone for the crypto market

贸易战：加密货币市场的可预测但毁灭性的旋风

The specter of tariffs has been looming since January. The announcement by Donald Trump on Chinese imports triggered a 17% drop in bitcoin.

自1月以来，关税的幽灵一直在迫在眉睫。唐纳德·特朗普（Donald Trump）关于中国进口的宣布导致比特币下降了17％。

However, this is just a prelude. Nicolai Sondergaard, an analyst at Nansen, highlights that fears related to trade barriers remain “the main driver” of the markets.

但是，这只是一个前奏。 Nansen的分析师Nicolai Sondergaard强调，与贸易障碍有关的担心仍然是市场的“主要驱动力”。

A persistent blockage until April 2, a key date when reciprocal tariffs could come into effect. Crypto assets, although disconnected from traditional economies, cannot withstand this systemic pressure.

持续的障碍到4月2日，关键日期可能会生效。加密资产虽然与传统经济体脱节，但不能承受这种系统性压力。

Investors are fleeing volatile assets, seeking refuge in caution. Ironically, every rebound in bitcoin is ephemeral, stifled by anxiety-inducing macroeconomic news.

投资者正在逃离挥发性资产，谨慎寻求庇护。具有讽刺意味的是，比特币中的每个反弹都是短暂的，被焦虑的宏观经济新闻所扼杀。

“Resolving trade tensions could be a major catalyst,” Sondergaard elaborates. But the horizon remains clouded.

Sondergaard阐述说：“解决贸易紧张局势可能是主要的催化剂。”但是地平线仍然笼罩。

China, the United States, and the EU are playing a game of chess where each tariff move shakes the markets.

中国，美国和欧盟正在打一个国际象棋游戏，每种关税都会动摇市场。

Cryptos, seen as a safe haven during previous crises, are temporarily losing this status. Capital is freezing, awaiting a sign of easing. Between sanctions and countermeasures, the political calendar now dictates the pace of prices.

加密在以前的危机期间被视为避风港，正在暂时失去这种状态。资本正在冻结，等待放松的迹象。在制裁和对策之间，政治日历现在决定了价格的速度。

Interest rates: the Fed’s vise is tightening

利率：美联储的虎钳正在收紧

In parallel, American monetary policy adds a layer of complexity. The Fed’s high interest rates are suffocating risk appetite. “The Federal Reserve is waiting for real bad news to lower its rates,” explains Sondergaard. A paradox: investors hope for economic slowdown to see signs of easing.

同时，美国货币政策增加了一层复杂性。美联储的高利率令人窒息。 Sondergaard解释说：“美联储正在等待真正的坏消息，以降低其利率。”悖论：投资者希望经济放缓，以了解缓解的迹象。

The probabilities of a status quo during the May FOMC meeting are nearing 85%. A clear signal: the priority is still fighting inflation, despite recession risks.

5月FOMC会议期间现状的概率接近85％。一个明确的信号：尽管有衰退风险，但优先事项仍在打击通货膨胀。

For Iliya Kalchev, an analyst at Nexo, this rigidity is only temporary. “Stabilized economic data could reignite enthusiasm for bitcoin,” he estimates. But the timeline is tight.

对于Nexo的分析师Iliya Kalchev而言，这种刚性只是暂时的。他估计：“稳定的经济数据可能会重新激发比特币的热情。”但是时间表很紧。

The upcoming releases — GDP, unemployment claims, PCE index — will be scrutinized like oracles.

即将发布的版本（GDP，失业索赔，PCE指数）将像牙齿一样审查。

A decline in inflation would pave the way for more lenient rates, bringing some color back to cryptos. In the meantime, the market digests a reality: money is expensive, and speculative investments are paying cash for this reality.

通货膨胀的下降将为更宽敞的速率铺平道路，从而使一些颜色恢复到加密货币。同时，市场消化了一个现实：金钱很昂贵，投机性投资正在为这一现实支付现金。

April promises to be a pivotal month. Between the possible activation of tariffs and hopes for a Fed pivot, cryptos are navigating between challenges and opportunities. Seasoned investors know that these storms forge markets.

四月承诺将成为关键月份。在可能的激活关税和对美联储枢纽的希望之间，加密货币正在挑战和机遇之间导航。经验丰富的投资者知道，这些风暴伪造市场。

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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年以来，Evariste着迷于比特币，不断研究该主题。尽管他最初的兴趣是交易，但他现在积极寻求了解以加密货币为中心的所有进步。作为一名编辑，他努力始终如一地提供反映整个行业状态的高质量工作。