比特币（BTC）-gold（XAU）比率下降到34，这是自11月14日以来最低的。

由于对美国领导的贸易战的持续担忧，黄金（XAU）正在重申其作为避风港资产的地位，而比特币（BTC）努力收集上升牵引力。

The price of gold (XAU) continues to highlight its status as a safe-haven asset as concerns over a U.S.-led trade war persist, while bitcoin (BTC) faces challenges in gaining upward momentum. This dynamic is evident in the declining bitcoin-gold ratio.

由于对美国领导的贸易战的担忧，黄金的价格（XAU）继续强调其作为避风港资产的地位，而比特币（BTC）在增进势头方面面临着挑战。这种动态在不断下降的比特币金比中很明显。

The ratio of bitcoin's USD price to gold's per-ounce dollar price has dropped to 34, marking the lowest level since Nov. 14 and nearing the previous peak reached in March 2024, according to data from the charting platform TradingView. The ratio has declined by 15.4% since reaching a high of over 40 in mid-December.

根据图表平台TradingView的数据，比特币的价格与Gold的每一美元价格的比率已降至34，标志着自11月14日以来的最低水平，并在2024年3月达到了上一个高峰。自12月中旬达到40以上的高点以来，该比率下降了15.4％。

Gold's year-to-date increase of nearly 10% to a record per-ounce price of $2,877 has been attributed to safe-haven demand amidst the escalating U.S.-China trade war, as reported by Reuters.

据路透社报道，黄金年初至今的增长近10％，达到每一盎司的2,877美元，这归因于路透社报道，在美国 - 中国贸易战争不断升级的情况下，避风港的需求。

The threat of tariffs has driven the Comex futures prices for metal products to trade significantly higher than the spot price in recent months. This has prompted traders to load U.S.-bound aircraft with the precious metal. According to The Guardian, investment banking giant JPMorgan is set to deliver $4 billion of gold bullion to New York this month. Additionally, Chinese demand for gold has surged ahead of the Spring Festival holidays.

关税的威胁推动了COME X Futures对于金属产品的交易显着高于最近几个月的现货价格。这促使交易者用贵金属加载美国绑定的飞机。根据《卫报》的报道，投资银行巨头摩根大通将在本月向纽约提供40亿美元的黄金白条。此外，在春节假期之前，中国对黄金的需求也激增。

Meanwhile, according to 10x Research, inflows into U.S.-listed spot Bitcoin (BTC) ETFs have primarily originated from traders engaging in non-directional arbitrage bets on BTC.

同时，根据10倍研究，进入美国上市的比特币（BTC）ETF的流入主要源于从事BTC非方向套利赌注的交易者。

"The ETF buying could be offset by simultaneous spot or futures selling (unwinding of long positions), dampening any significant price impact," Markus Thielen, founder of 10x Research, stated in a note to clients on Monday, highlighting the $4 billion in inflows into the U.S. spot-listed ETFs following the release of inflation data three weeks ago.

10倍研究的创始人马库斯·泰伦（Markus Thielen）在周一向客户的注释中指出：“ ETF的购买可能会被同时销售或期货销售所抵消，从而削弱了任何重大的价格影响。”三周前发布通货膨胀数据后，进入美国现货ETF。