比特币（BTC）市场已经进入了恐惧的时期

尽管有动荡，但分析师丹·甘巴德洛（Dan Gambardello）指出，比特币的持有量相对较大，约为78000美元。

Cryptocurrency markets have entered a period of heightened fear as financial markets react to uncertainty surrounding tariffs and monetary policy.

由于金融市场对关税和货币政策的不确定性做出反应，加密货币市场已经进入了一段时期的恐惧。

Despite the turbulence, analyst Dan Gambardello highlights that Bitcoin is holding relatively strong at around $78,000. He contrasts it with the COVID-19 market crash when Bitcoin dropped to approximately $4,000.

尽管有动荡，但分析师丹·甘巴德洛（Dan Gambardello）强调，比特币的持有量相对较大，约为78,000美元。当比特币下降到约4,000美元时，他将其与19日的Covid-19市场崩溃形成鲜明对比。

“During the COVID fear of 2020, Bitcoin was around $4,000. Do you see the path in which crypto is headed? Crypto right now is holding way stronger than I think most people are realizing,” Gambardello states in his recent analysis.

Gambardello在他最近的分析中说：“在2020年对2020年的恐惧期间，比特币约为4,000美元。您是否看到了加密货币的前进道路？立即加密货币的道路比我认为大多数人正在意识到的要强大。”

Gambardello compares to COVID-19 period

Gambardello与COVID-19时期相比

Gambardello draws parallels between the current market conditions and previous major market bottoms. He examines how markets initially reacted to Federal Reserve interventions during those periods and noted that even emergency rate cuts didn’t immediately reverse market downtrends.

Gambardello在当前的市场状况与以前的主要市场底层之间的相似之处。他研究了市场最初对美联储干预措施的反应，并指出即使紧急降低率也没有立即逆转市场下降趋势。

During the March 2020 market crash, the Federal Reserve held an emergency meeting on March 3rd and cut rates by 50 basis points, but markets continued to decline. It wasn’t until a second emergency meeting on March 15th, when rates were slashed by 100 basis points to 0.25%, that markets began to find a bottom, though not immediately.

在2020年3月的市场崩溃期间，美联储在3月3日举行了紧急会议，降低了50个基点，但市场继续下降。直到3月15日的第二次紧急会议，当时利率被削减100个基点至0.25％，市场开始找到底部，尽管没有立即。

The analyst points to fear indexes approaching levels seen during previous market crises. The current “tariff panic” of 2025 has pushed fear metrics beyond the levels seen during the 2018 tariff concerns and is approaching the spike witnessed during the COVID-19 pandemic.

分析师指出，恐惧指数接近以前市场危机期间所见的水平。目前，2025年的“关税恐慌”将恐惧指标推向了2018年关税关注期间所看到的水平，并正在与尖峰接近19日期期间的尖峰。

On monthly charts, these fear indicators are showing wicks into territories previously seen only during major market bottoms like the 2008 financial crisis.

在每月图表上，这些恐惧指标将灯芯显示到以前仅在2008年金融危机等主要市场底部看到的领土。

For cryptocurrency specifically, Gambardello suggests that the current price levels represent higher lows compared to previous cycles.

对于加密货币而言，Gambardello认为，与以前的周期相比，当前的价格水平更高。

Crypto news: Bitcoin has a chance to drop to $72,000

加密新闻：比特币有机会降至72,000美元

Gambardello’s technical analysis identifies several key support zones for both Bitcoin and altcoins like Cardano (ADA).

Gambardello的技术分析确定了Bitcoin和Altcoins（例如Cardano（ADA））的几个关键支持区域。

For Bitcoin, he references a Fibonacci retracement level with a range between $62,000 and $72,000 as a potential target if the market continues lower. Currently, Bitcoin is finding support at what he describes as “a massive multi-year neckline” of an inverse head and shoulders pattern.

对于比特币，他提到了斐波那契反回的水平，如果市场持续下降，则可能在62,000至72,000美元之间，作为潜在目标。目前，比特币正在对他所说的“逆向头和肩膀”模式的“巨大的多年颈线”寻求支持。

“We’ve already got our throwback to the neckline of the inverse head and shoulders we were anticipating anyway. We’re at the target right now. You see that red line, that’s a massive multi-year neckline,” he explains.

他解释说：“无论如何，我们已经将逆向头和肩膀的领口倒退了。我们现在正处于目标。您看到那条红线，这是一条巨大的多年领口。”

For Cardano, he notes the current price of 57 cents might see further downside, but emphasizes the long-term perspective by comparing it to the COVID swing low when ADA fell below 2 cents.

他指出，他指出，目前57美分的价格可能会进一步偏低，但强调了长期的观点，即当ADA低于2美分时将其与Covid Swing Low进行比较。

The S&P 500 weekly chart is also the focus of his attention. Gambardello points out that the RSI (Relative Strength Index) is at levels historically associated with bottoms in both the 2018 tariff fears and the 2020 COVID crash. He also refers to the 200-week moving average at $4,700 as a possible support for the S&P 500 in case the downtrend persists.

标准普尔500指数每周图表也是他注意的重点。 Gambardello指出，在2018年关税担忧和2020年Covid崩溃中，RSI（相对强度指数）与底部相关。他还指200周的搬家平均值为4,700美元，以便为标准普尔500指数提供支持，以防下降趋势持续。

Technically speaking, Gambardello implies that although the charts may appear “absolutely terrible” up close, the more extended patterns reveal a higher flight. He asks viewers to bear in mind by comparing these newer higher lows with earlier cycles.

从技术上讲，甘巴德洛（Gambardello）意味着，尽管图表可能看起来“绝对可怕”，但更扩展的模式显示出更高的飞行。他要求观众通过将这些较新的高低与较早的周期进行比较来牢记。

Gambardello identifies catalyst for recovery

Gambardello识别用于恢复的催化剂

Gambardello identifies several potential catalysts that could trigger a market recovery once the current fear subsides. He points to news that the European Union is “suddenly ready to negotiate for zero for zero tariffs with the US” as an example of how the tariff situation might ultimately resolve more positively than current market pricing suggests.

甘巴德洛（Gambardello）确定了几种潜在的催化剂，一旦当前的恐惧消退，可能会引发市场的复苏。他指出，有消息称，欧盟“突然准备就与美国的零关税进行零关税进行谈判”，这是关税情况最终可能比当前市场定价所建议的更积极地解决的一个例子。

The analyst believes that while fear is currently driving the markets, the fundamentals for crypto—particularly in the United States—remain strong due to the regulatory direction under the current administration. He proposes the trade reaction to announcements of tariffs is exaggerated and the eventual negotiations are likely to be positive for the US economy.

分析师认为，尽管恐惧目前正在推动市场，但由于目前的政府规定的监管方向，加密货币的基本面（尤其是在美国）强劲。他提出对关税公告的贸易反应被夸大了，最终的谈判可能对美国经济有利。

He adds the wider considerations of policy shifts towards cryptocurrency across the United States. Although he does not elaborate on specific policies, he points to “deregulation” and “America becoming the crypto capital of the world” as drivers that are likely to deliver long-term expansion in the cryptocurrency space.

他补充说，政策转向美国的加密货币的更广泛考虑。尽管他没有详细阐述特定的政策，但他指出，“放松管制”和“美国成为世界的加密货币之都”，因为他们可能会在加密货币领域进行长期扩张。