比特币（BTC）市场扩展了昨天的幻灯片

加密市场正在延长昨天的幻灯片，因为投资者预计唐纳德·特朗普总统的互惠关税将于4月2日生效，以及周五晚些时候将于4月2日生效。

The crypto market is extending yesterday's slide as investors anticipate the impact of President Donald Trump’s reciprocal tariffs, set to come into effect on April 2, and key macroeconomic data due later Friday.

加密市场正在延长昨天的幻灯片，因为投资者预计唐纳德·特朗普总统的互惠关税将于4月2日生效，以及周五晚些时候将于4月2日生效。

Bitcoin (BTC) has lost 2.5% in the past 24 hours, which seems pretty staid when compared with an almost 6% in slide in ether (ETH), 5.5% in XRP and 7% in dogecoin (DOGE). The broader CoinDesk 20 Index (CD20) dropped 4.65%. Gold, in contrast, hit new highs.

在过去的24小时内，比特币（BTC）损失了2.5％，而Ether（ETH）的幻灯片近6％，XRP为5.5％，而Dogecoin（Doge）的幻灯片却差不多6％。较宽的Coindesk 20指数（CD20）下降了4.65％。相比之下，黄金达到了新的高点。

The growing exposure to gold has benefited tokens backed by the precious metal, which CoinDesk Data’s latest stablecoin report shows climbed to a $1.4 billion market capitalization in March.

珍贵金属支持的金属支持的代币越来越受益，Coindesk Data的最新Stablecoin报告显示，3月份的市值攀升至14亿美元的市值。

It seems clear traders are moving to reduce risk exposure with one eye on the U.S. personal consumption expenditure (PCE) report set to be released later. That data could influence Federal Reserve interest rate decisions and thus any appetite for risk going forward.

很明显，交易者正在朝着美国个人消费支出（PCE）报告的一方面注视降低风险敞口，该报告将在稍后发布。该数据可能会影响美联储的利率决策，从而影响未来风险的任何需求。

Bitcoin traders are also anticipating a record-breaking $12.2 billion in BTC options expiring on Deribit today, with a max pain point at $85,000. Implied volatility, however, remains near annual lows as the expiry isn’t likely to move the market, according to Wintermute OTC trader Jake O.

比特币交易者还预计，今天的deribit上有创纪录的122亿美元的BTC期权，最大疼痛点为85,000美元。但是，根据温特米特国际酒店交易员杰克·O（Jake O. Jake O）的说法，由于到期不可能转移市场，因此隐含的波动性仍然接近年度低点。

“These expirations are yet to consistently move markets, largely because BTC options open interest remains small relative to spot activity," Jake O. said in an emailed statement. "That $12B is dwarfed by $28B in spot volume traded over the past 24 hours.”

杰克·O（Jake O. “过去24小时内，$ 12B的现货交易量为28B美元。”

While the derisking trend grows, spot bitcoin exchange-traded funds (ETFs) have seen consistent inflows since mid-March, adding in nearly $1 billion over the past two weeks. In contrast, spot ether ETF outflows have remained persistent, with around $115 million exiting these funds over the same period.

虽然Derisking趋势的增长，但现货比特币交易所贸易资金（ETF）自3月中旬以来就一直持续出现流入，在过去的两周中增加了近10亿美元。相比之下，现场ETHER ETF流出仍然持久，约有1.15亿美元在同一时期退出了这些资金。

Looking ahead, money managers are likely to keep on reducing risk exposure. The trend spurred Goldman Sachs to raise its gold price target for the year to $3,300 per troy ounce, with the potential to rise to $4,500 in an “extreme tail scenario.” Stay alert!

展望未来，货币经理可能会继续降低风险敞口。该趋势刺激了高盛（Goldman Sachs）将其当年的黄金价格目标提高到每盎司3,300美元，并在“极端尾部场景”中有可能上升到4,500美元。保持警觉！

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By Shaurya Malwa

Shaurya Malwa

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