当特朗普准备释放新的关税时，比特币（BTC）市场正在仔细踩踏

加密市场正在谨慎行事，因为贸易商和投资者在越来越多的宏观经济不确定性中采取了拭目以待。谨慎的情绪反映在连续两天的BTC交易所交易基金（ETF）的净流出中，这表明机构投资者正在减少在关键的地缘政治事件之前的曝光率。

The crypto market is treading carefully as traders and investors adopt a wait-and-see approach amid mounting macroeconomic uncertainty. The cautious sentiment is reflected in two consecutive days of net outflows from BTC exchange-traded funds (ETFs), suggesting institutional investors are reducing exposure ahead of a key geopolitical event.

加密市场正在谨慎行事，因为贸易商和投资者在越来越多的宏观经济不确定性中采取了拭目以待。谨慎的情绪反映在连续两天的BTC交易所交易基金（ETF）的净流出中，这表明机构投资者正在减少在关键的地缘政治事件之前的曝光率。

Data from Farside Investors indicates that Bitcoin ETFs have recorded significant net outflows since the start of the week. Monday saw a $60.6 million outflow from ETFs managed by Bitwise (BITB), Ark Invest (ARKB), and WisdomTree (BTCW). Notably, BlackRock’s IBIT was the only Bitcoin ETF to see positive flows on that day.

Farside Investors的数据表明，自本周开始以来，比特币ETF记录了大量的净流出。周一，来自Bitwise（BitB），ARK Invest（ARKB）和WisdomTree（BTCW）管理的ETF的6060万美元流出。值得注意的是，贝莱德的IBIT是当天唯一看到积极流动的比特币ETF。

However, the outflows intensified on Tuesday, reaching nearly $158 million, as Bitwise and Ark Invest saw the largest outflows. By April 1, even BlackRock’s IBIT had recorded zero flows, further highlighting the risk-off sentiment in the market. Meanwhile, Ethereum ETFs also suffered net outflows of $3.6 million, underscoring broader caution among institutional players.

但是，由于Bitwise和Ark Invest看到最大的外流，周二的流出增长了近1.58亿美元。到4月1日，甚至贝莱德的IBIT都记录了零流量，进一步强调了市场上的冒险情绪。同时，以太坊ETF也遭受了360万美元的净流出，这引起了机构参与者的更加谨慎。

“The Spot Bitcoin ETFs saw a $157.8 million outflow yesterday. The Spot Ethereum ETFs saw a $3.6 million outflow. Institutions are reducing risk ahead of today’s tariff announcement,” noted prominent analyst Crypto Rover.

“现货比特币ETF昨天的流出量为1.578亿美元。当地的以太坊ETF看到了360万美元的流失。机构在当今的关税公告之前正在降低风险，”著名的分析师Crypto Rover指出。

The Spot Bitcoin ETFs saw a $157.8M outflow yesterday.The Spot Ethereum ETFs saw a $3.6M outflow.INSTITUTIONS ARE REDUCING RISK AHEAD OF TODAY'S TARIFF ANNOUNCEMENT! pic.twitter.com/bLW5xPEj6U

昨天，现货比特币ETF昨天流出了1.578亿美元。 pic.twitter.com/blw5xpej6u

Bitcoin Faces Volatility as Trump Unveils Tariff Plan

随着特朗普公布关税计划，比特币面临波动

The heightened caution in crypto markets coincides with an impending announcement from former U.S. President Donald Trump on April 2, dubbed “Liberation Day.” The event is expected to unveil a sweeping new tariff policy that could potentially trigger a global trade war.

加密货币市场的谨慎态度恰逢前美国总统唐纳德·特朗普（Donald Trump）在4月2日被称为“解放日”的宣布。预计该活动将推出一项详尽的新关税政策，这可能会引发全球贸易战。

With the scope of the tariffs still unclear, uncertainty is rippling through financial markets, leaving investors in limbo. According to Bloomberg, “The White House has not reached a firm decision on their tariff plan,” further adding to the market’s anxiety.

由于关税的范围仍然不清楚，不确定性在金融市场中荡漾，使投资者处于困境。根据彭博社的说法，“白宫尚未对其关税计划做出坚定的决定，”进一步增加了市场的焦虑。

Historically, major tariff announcements have had significant impacts on risk assets, including Bitcoin. Some analysts warn that if Trump enforces aggressive trade policies, financial markets including stocks and crypto could face extreme volatility, with potential drawdowns of 10-15%.

从历史上看，主要关税公告对包括比特币在内的风险资产产生了重大影响。一些分析人士警告说，如果特朗普执行积极的贸易政策，包括股票和加密货币在内的金融市场可能会面临极端波动，潜在的降低为10-15％。

“April 2nd is similar to election night. It is the biggest event of the year by an order of magnitude. 10x more important than any FOMC, which is a lot. And anything can happen,” economic analyst Alex Krüger predicted.

“ 4月2日与选举之夜相似。这是一年中最大的事件。订单比任何FOMC都重要的10倍，这一切都可能发生。”经济分析师AlexKrüger预测。

Market views updateMarkets crawl higher if headlines remain neutral to benign this week, then freeze as we await April 2nd, which is reciprocal tariffs day announcement or, as Trump called it, Liberation Day.April 2nd is similar to election night. It is the biggest event of the year by an ...

如果标题在本周保持良性中立，那么更高的市场视图更高的爬网是在我们等待4月2日（这是相互关税日公告）的情况下冻结的，或者正如特朗普所说的那样，解放日。第二大约与选举之夜相似。这是一年中最大的事件。

Bitcoin Faces Headwinds as Investors Shift

随着投资者的转变，比特币面临逆风

Some investors are shifting their capital towards traditional safe-haven assets as uncertainty looms. A Bank of America survey revealed that 58% of fund managers are favoring gold as a hedge against escalating trade tensions, while only 3% see Bitcoin as a viable alternative.

一些投资者正在将其资本转移到传统的避行资产上，因为不确定性迫在眉睫。美国银行的一项调查显示，有58％的基金经理赞成黄金作为对冲，反对不断升级的贸易紧张局势，而只有3％的基金经理将比特币视为可行的替代方案。

Bitcoin’s price volatility and limited crisis-time liquidity have often been cited as key barriers preventing it from establishing itself as a true safe-haven asset. Historically, trade war fears have led to capital flight into gold rather than Bitcoin, highlighting the traditional preference for the precious metal.

比特币的价格波动和有限的危机流动性经常被认为是关键障碍，阻止其将自己确立为真正的避风港资产。从历史上看，贸易战争的恐惧导致了资本飞往黄金而不是比特币，突出了对贵金属的传统偏爱。

However, despite the immediate challenges, long-term holders of Bitcoin remain undeterred. On-chain data from Glassnode indicates that Bitcoin supply on exchanges has dropped to just 7.53%, reaching the lowest level since February 2018. This decline suggests that investors are holding onto their coins and signals a potential shift in macroeconomic trends.

然而，尽管面临着艰巨的挑战，但比特币的长期持有人仍然没有避免。来自GlassNode的链链数据表明，交易所的比特币供应量已下降到7.53％，达到了自2018年2月以来的最低水平。这种下降表明投资者正在持有硬币，并表示宏观经济趋势的潜在转变。

As the crypto market braces for Trump’s Liberation Day announcement, all eyes remain on how the tariff decision could reshape global markets. Will Bitcoin follow gold’s lead as a haven, or will it endure another bout of volatility? One thing is certain - April 2 will be a defining moment for financial markets in 2025.

随着特朗普解放日公告的加密市场括号，所有人都关注关税决定如何重塑全球市场。比特币会遵循Gold作为避风港的领先地位，还是会忍受另一场波动？可以肯定的一件事 - 4月2日将是2025年金融市场的决定性时刻。