比特币（BTC）市场下降到3个月的低点，在特朗普取得美国总统胜利之后，大部分收益颠倒了

比特币（BTC）市场最近在三个月内下跌至最低价格，在特朗普以美国总统大选的胜利后扭转了大部分收益。

Crypto markets have recently dropped to their lowest prices in three months, wiping out most of the gains that followed Trump’s U.S. presidential victory.

加密货币市场最近在三个月内下跌至最低价格，消除了特朗普在美国总统大选之后的大部分收益。

Bitcoin had been holding up relatively well until the $92,000 level, which had been holding as support since November 2024, was broken. The price then rapidly fell to $80,000, where it found support.

比特币一直保持良好状态，直到自2024年11月以来一直在支持的92,000美元水平被打破。然后，价格迅速降至80,000美元，在那里找到了支持。

Sentiment in the crypto market has been weak, with the Crypto Fear and Greed Index falling from a level of 55 (Neutral) to as low as 10 (Extreme Fear) in the last month. It is currently at 34.

加密货币市场的情绪很弱，加密货币恐惧和贪婪指数从上个月的55级（中性）下降到低至10（极端恐惧）。目前为34。

Crypto’s high correlation to traditional markets means bitcoin and wider crypto asset prices have also been affected by the uncertainty around tariffs and what they could mean for the U.S. economy in the immediate future.

加密与传统市场的高度相关性意味着比特币和更广泛的加密资产价格也受到关税的不确定性以及在不久的将来对美国经济的意义的影响。

Furthermore, crypto-specific events, such as the fallout from the recent Bybit exchange hack, which has been described as the biggest crypto heist in history, and record outflows from the spot bitcoin ETFs, have also contributed to the recent fall in crypto asset prices.

此外，特定于加密货币的事件，例如最近的Bybit Exchange Hack的后果，该事件被描述为历史上最大的加密抢劫案，并从现货比特币ETF中创下了回流，也为最近的加密资产价格下跌做出了贡献。

The recent announcement by Trump that the U.S. would be moving forward with the creation of a strategic crypto reserve provided a boost to crypto asset prices, with bitcoin rallying back up to the $95,000 price level. However, despite Trump pledging to stockpile bitcoin and other crypto assets, it is not fully clear yet how such a reserve will work, how it could benefit taxpayers, and if there will be any future crypto asset purchases. This uncertainty has caused a pullback in the price of bitcoin, which currently stands at around $90,000.

特朗普最近宣布，美国将通过创建战略加密保护区的发展，这推动了加密资产价格的推动力，比特币集会升至95,000美元的价格水平。但是，尽管特朗普承诺储存比特币和其他加密资产，但尚不完全清楚这样的储备将如何工作，如何使纳税人受益，以及是否将来会有任何加密资产购买。这种不确定性引起了比特币价格的回调，比特币目前约为90,000美元。

In my opinion, we are now at a crossroads. Loosening financial conditions could mean crypto assets and wider risk asset prices go higher from here. U.S. Treasury Secretary Scott Bessent recently reaffirmed the administration’s plan to bring down interest rates to help struggling Americans. However, further noise around tariffs or the crypto reserve plans not meeting the community’s expectations could cause bitcoin’s price to drop further. We’ll have to see which narrative proves to be stronger over the weeks and months to come.

我认为，我们现在处于十字路口。放松财务状况可能意味着加密资产和更广泛的风险资产价格从这里提高。美国财政部长斯科特·贝斯特（Scott Bessent）最近重申了政府降低利率以帮助苦苦挣扎的美国人的计划。但是，围绕关税或加密储备金计划不满足社区期望的进一步噪音可能会导致比特币的价格进一步下跌。我们必须看看在接下来的几周和几个月中，哪些叙述被证明更强。

Generally, we see retracements of 20-35% in bitcoin bull markets before a base is found and the next leg higher begins. The $80,000 level which the price of bitcoin recently fell to is a decline of 28% from the $109,300 all-time high, so there is a chance we may have already seen the low.

通常，在发现基地之前，我们看到比特币牛市的20-35％的回溯，下一个腿开始更高。比特币价格最近跌至80,000美元的水平，比历史最高高的$ 109,300下降了28％，因此我们有可能已经看到了低价。

On the other hand, if the price were to fall further due to the reasons mentioned above, a 35% decline from the all-time high would put the price at $70,000 before any base is potentially formed and the next leg higher begins.

另一方面，如果由于上述原因而将价格进一步下跌，则有史以来高高下降了35％，将使价格处于70,000美元，然后才能形成任何基础，而下一个腿较高。

While I understand that investors may feel fearful due to the large price movements, retracements in the price of any asset class or instrument are normal and expected, and we should remember we’re still significantly up from this time last year.

尽管我了解投资者可能会因为价格上涨而感到恐惧，但任何资产类别或工具的价格都正常且预期的回波，我们应该记住，从去年的这个时候开始，我们仍然显着提高。

Investors with ready cash and who have a long-term conviction in bitcoin may see this as an opportune time to add further to their overall holdings.

拥有现金且在比特币中有长期信念的投资者可能认为这是增加其整体持股的时机。