比特币（BTC）价格以优柔寡断的方式关闭

由于短期持有人与长期投资者冲突，比特币（BTC）价格以优柔寡断的方式结束了3月。即将从美国的互惠关税

The price of Bitcoin (BTC) closed March in an indecisive manner, as short-term holders conflicted with long-term investors. The upcoming reciprocal tariffs from the United States (US) this week have caused mixed reactions from global investors amid concerns of a possible US recession.

由于短期持有人与长期投资者冲突，比特币（BTC）的价格以优柔寡断的方式结束。本周美国（美国）即将到来的互惠关税引起了全球投资者的不同，因为人们担心美国衰退。

As the second quarter of 2025 begins, much of crypto investors’ attention has shifted to an anticipated correlation between Bitcoin and Gold (XAU).

随着2025年第二季度开始，加密投资者的大部分注意力都转移到了比特币与黄金（XAU）之间的预期相关性。

According to Ben Lilly, a crypto analyst at Benzinga, there is a strong correlation between Bitcoin and Gold, especially when considering the broader market trends.

Benzinga的加密分析师Ben Lilly认为，比特币和黄金之间存在很强的相关性，尤其是在考虑更广泛的市场趋势时。

"I think a lot of people are looking at Gold and expecting some correlation to carry over to Bitcoin," Lilly noted.

莉莉指出：“我认为很多人都在看黄金，并期望有一些相关性可以延续到比特币上。”

Gold price recorded palpable gains since December whilst BTC price and the wider altcoin market were trapped in bearish sentiment.

自12月以来，黄金价格记录了明显的收益，而BTC的价格和更广泛的山寨币市场被困住了。

Is the 2025 Bitcoin Rally Over?

2025比特币集会结束了吗？

According to Quinn Thompson, founder of crypto hedge fund Lekker Capital, Bitcoin price is signaling a potential correction below $60k. Thompson predicts that Bitcoin price will be trapped in a bearish environment akin to the 2022 market outlook.

根据加密对冲基金Lekker Capital的创始人Quinn Thompson的说法，比特币价格表明潜在的更正低于$ 60K。汤普森（Thompson）预测，比特币价格将被困在类似于2022市场前景的看跌环境中。

“I could see us going back to a five handle by the end of the year,” Thompson noted.

汤普森指出：“到今年年底，我可以看到我们回到五个手柄。”

According to Thompson, the recent announcement from the White House on the creation of a strategic BTC reserve and regulatory framework from Congress is a sell-the-news event.

根据汤普森的说法，白宫最近的宣布关于创建战略性BTC预备役和国会监管框架的消息是卖出的活动。

“I don’t think it happens quickly, which is why it would be very painful and shocking to people because nothing about the current market conditions is very volatile, with big liquidations and crashes. It’s this sort of different market environment, a slow grind down that is almost more unbearable for people because they’re like, ‘Is it over? Is the bottom in?” Thompson added.

“我认为它不会很快发生，这就是为什么人们对当前市场条件的任何一无所知，因为没有大量清算和崩溃。这是这种不同的市场环境，这种慢速的磨损几乎对人们来说是更难以忍受的，因为他们喜欢，'是吗？''是吗？”汤普森补充说。

Considering the diminishing returns for Bitcoin over the years, technical analysis suggests a potential parabolic rally before the end of this year. Moreover, Bitcoin’s monthly Relative Strength Index (RSI) has not yet reached a peak of 90 in the past year as observed during the previous three major bull markets.

考虑到多年来比特币的回报率降低，技术分析表明，今年年底之前进行了潜在的抛物线集会。此外，在过去的三个主要牛市上观察到的，比特币的每月相对强度指数（RSI）尚未达到90的峰值。

Additionally, long-term investors, led by Strategy (formerly MicroStrategy), have continued to accumulate more Bitcoins to hedge against inflation and market uncertainty.

此外，由战略（以前是微型流通）领导的长期投资者继续积累更多的比特币，以对冲通货膨胀和市场不确定性。