比特币（BTC）价格结束了1月第二周以来的最佳每周表现

在比特币（BTC）结束了自1月第二周以来的最佳每周表现之后，4月14日星期一，美国财政部为期2年和10年的财政收益下降。

The 2-year and 10-year US Treasury yields dipped on Monday, April 14, after Bitcoin (BTC) closed its best weekly performance since the second week of January. Bitcoins price gained 6.79% over the past week, but are enough factors aligned to support continued price upside?

在比特币（BTC）结束了自1月第二周以来的最佳每周表现之后，4月14日星期一，美国财政部为期2年和10年的财政收益下降。在过去一周中，比特币价格上涨了6.79％，但是足够的因素与持续价格上涨相一致吗？

The 10-year treasury yield saw an 8.2 basis point decline to 4.40% during the New York trading session, while the 2-year treasury saw an 8 basis point slip to 3.88%. The drop in yields comes after possible tariff exemptions on smartphones, computers, and semiconductors were introduced to give US companies time to move production domestically. However, US President Donald Trump stated that these exemptions were temporary in nature.

在纽约交易会期间，为期10年的财政收益率下降了8.2个基点，至4.40％，而为期2年的财政部，8个基点滑倒至3.88％。引入了对智能手机，计算机和半导体的可能豁免的关税免税后，产量下降，以使美国公司有时间在国内移动生产。但是，美国总统唐纳德·特朗普（Donald Trump）表示，这些豁免本质上是暂时的。

US 10-year treasury bond yields chart. Source: TradingView

美国10年债券收益图。资料来源：TradingView

The tariff exemptions, which were announced on April 12, came at the end of a bullish week for Bitcoin. After forming new yearly lows at $74,500, BTC price rebounded 15% to $86,100 between April 9-13.

4月12日宣布的关税豁免是在对比特币的看涨周结束时。在4月9日至13日之间，BTC价格以74,500美元的价格形成了新的年度低点后，BTC的价格为15％，至86,100美元。

Easing US treasury yields could be a double-edged sword for Bitcoin. Lower yields decrease the appeal for fixed-income assets, improving capital injection into risk-on assets like BTC. Still, the uncertainty of “temporary exemptions” and the ongoing trade war with China keeps Bitcoin susceptible to further price volatility.

放松美国财政部的收益可能是比特币的双刃剑。较低的收益率降低了对固定收益资产的吸引力，从而改善了BTC等风险资产的资本注入。尽管如此，“暂时豁免”的不确定性以及与中国持续的贸易战保持了比特币容易进一步波动。

As an “inflation hedge,” Bitcoin continues to draw mixed opinions, but recent uncertainty over trade policies increases inflation fears, improving BTC’s store of value narrative. Yet, recent US inflation data suggested a cooling trend, as the Consumer Price Index (CPI) for March 2025 indicated a year-over-year inflation rate of 2.4%, down from 2.8% in February, marking the lowest since February 2023, which could be indirectly bearish for Bitcoin in the short term.

作为“通货膨胀对冲”，比特币继续引起混杂的意见，但最近对贸易政策的不确定性增加了通货膨胀的恐惧，从而改善了BTC的价值叙事存储。然而，最近的美国通货膨胀数据表明了冷却趋势，因为2025年3月的消费者价格指数（CPI）表明，同比的通货膨胀率为2.4％，低于2月份的2.8％，标志着自2023年2月以来的最低水平，这可能是比特币在短期内间接看跌的。

Bitcoin price hurdles present at $88K to $90K

比特币价格障碍以8.8k至$ 90k的价格出现

Trading resource Material Indicators noted that Bitcoin retained a bullish position above its 50-weekly moving average and quarterly open at $82,500. A strong weekly close implied a higher possibility that Bitcoin is less likely to re-visit its previous weekly lows anytime soon. The analysis noted,

交易资源材料指标指出，比特币保留了50周的移动平均水平，每季度开放，为82,500美元。每周一次强大的近距离表明，比特币不太可能很快重新访问其以前的每周低点的可能性更高。分析指出，

“Above 50-W MA, Q1 Open at 82.5k and no lower highs yet. A strong green candle week closed above 80k. Less likely to revisit previous weekly lows.”

“高于50-W MA，第1季度为82.5k，尚无较低的高点。强大的绿色蜡烛周在80k以上关闭。重新访问上一次每周低点的可能性较小。”

Likewise, Alphractal founder Joao Wedson suggested that Bitcoin may be nearing a bullish reversal, as the Perpetual-Spot Gap on Binance—a key indicator tracking the price difference between Bitcoin’s perpetual futures and spot markets, has been narrowing since late 2024.

同样，Alphractal的创始人Joao Wedson建议比特币可能正在逆转，因为永恒的余量差距是binance的 - 自2024年底以来，它一直在追踪比特币永久未来和现货市场之间价格差的关键指标。

Bitcoin Perpetual-spot price gap chart. Source: X.com

比特币永久价格差距图。资料来源：X.com

In a recent X post, Wedson highlighted that this shrinking gap, currently negative, signals fading bearish sentiment, with historical trends from 2020–2021 and 2024 showing that a positive gap often leads to a Bitcoin rally. Wedson noted that a flip to a positive gap could indicate returning buyer momentum. However, he cautioned that such negative gaps persisted during the 2022–2023 bear market.

在最近的X帖子中，韦德森强调说，这种缩小的差距（当前负面）表示淡出看跌情绪，其历史趋势从2020 - 2021年和2024年出现，表明积极的差距通常会导致比特币集会。韦德森指出，向积极的差距翻转可能表明返回的买家动力。但是，他警告说，在2022 - 2023年熊市中，这种负差距持续存在。

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

本文不包含投资建议或建议。每个投资和交易举动都涉及风险，读者在做出决定时应进行自己的研究。