随着总统特朗普的解放日倒计时的继续，比特币ETF（交易所贸易资金）继续记录了负面流量。

Farside投资者的数据显示，自周一以来，比特币ETF连续两天的净流出。 Bitwise（BitB），ARK Invest（ARKB）和Wisdomtree（BTCW）的金融工具在周一的6060万美元外流方面处于前线，只有BlackRock的IBIT看到了积极的流动。

Bitcoin ETFs (exchange-traded funds) continue to record negative flows this week as President Trump’s Liberation Day countdown continues.

随着总统特朗普的解放日倒计时的继续，比特币ETF（交易所贸易资金）继续记录了负面流量。

The pessimism in the crypto market is palpable, with traders and investors adopting a wait-and-see approach, especially ahead of Trump’s announcement, which is due later in the day on Thursday.

加密货币市场的悲观主义是显而易见的，贸易商和投资者采用了等待方式，尤其是在特朗普公告之前，该方法将于周四晚些时候到期。

Bitcoin ETF See Outflows Amid Investor Caution

在投资者的谨慎时，比特币ETF看到流出

Data on Farside Investors shows two consecutive days of net outflows for Bitcoin ETFs since Monday. Financial instruments from Bitwise (BITB), Ark Invest (ARKB), and WisdomTree (BTCW) were in the frontline for Monday’s $60.6 million outflows, with only BlackRock’s IBIT seeing positive flows.

Farside投资者的数据显示，自周一以来，比特币ETF连续两天的净流出。 Bitwise（BitB），ARK Invest（ARKB）和Wisdomtree（BTCW）的金融工具在周一的6060万美元外流方面处于前线，只有BlackRock的IBIT看到了积极的流动。

On the other hand, Tuesday saw even more outflows, approaching $158 million, with Bitwise and Ark Invest leading the charge. Then, on April 1, BlackRock’s IBIT recorded zero flows.

另一方面，周二的流出甚至更多，接近1.58亿美元，而Bitwise和Ark投资领导了这一指控。然后，在4月1日，BlackRock的IBIT记录了零流量。

Meanwhile, Ethereum ETFs recorded net outflows of $3.6 million, data on Farside shows. This suggests a cautious sentiment among institutional investors.

同时，Ethereum ETF记录了360万美元的净流出，Farside显示。这表明机构投资者之间的情绪谨慎。

“The Spot Bitcoin ETFs saw $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,” analyst Crypto Rover noted.

“昨天，现货比特币ETF昨天流出了1.578亿美元。当地的以太坊ETF看到了360万美元的流出。机构在今天的关税宣布之前正在降低风险，”分析师Crypto Rover指出。

Indeed, sentiment suggests traders are exercising caution, choosing to remain in “wait-and-see” mode.

的确，情绪表明贸易商正在谨慎行事，选择保持“等待”模式。

The caution comes ahead of Trump’s Liberation Day announcement, which is due later in the day on Thursday.

在特朗普的解放日宣布之前，该警告是在星期四晚些时候举行的。

With POTUS poised to unveil sweeping new tariffs, traders and investors across financial playing fields wait to see the scope of an onslaught that could spark a global trade war. Specifically, there is generally very little information about the tariffs’ specifics, which creates uncertainty regarding their impact on the broader economy and the crypto market.

随着POTUS准备揭开新的关税，跨金融竞争环境的商人和投资者等待看到可能引发全球贸易战的冲击范围。具体而言，关于关税细节的信息通常很少，这对它们对更广泛的经济和加密市场的影响产生了不确定性。

“The White House has not reached a firm decision on their tariff plan,” Bloomberg reported, citing people close to the matter.

彭博社报道说：“白宫尚未就其关税计划做出坚定的决定。”

Despite the lack of clarity, it is understandable why investors would be cautious considering the impact of previous tariff announcements on Bitcoin price.

尽管缺乏清晰度，但考虑到以前的关税公告对比特币价格的影响，投资者会保持谨慎，这是可以理解的。

Meanwhile, analysts predict extreme market volatility, with potential stock and crypto crashes reaching 10-15% if Trump enforces broad tariffs.

同时，分析师预测极端市场波动，如果特朗普征收广泛的关税，潜在的股票和加密货币崩溃将达到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。

While sentiment is cautious in the crypto market, some investors are channeling toward gold as a safe haven. A Bank of America survey showed that 58% of fund managers prefer gold as a trade war safe haven, while only 3% back Bitcoin.

尽管情绪在加密市场上谨慎，但一些投资者正在将黄金作为避风港转向。美国银行的一项调查显示，有58％的基金经理更喜欢黄金作为贸易战避风港，而只有3％的后比特币。

These findings came as institutional investors cite Bitcoin’s volatility and limited crisis-time liquidity as key barriers to its safe-haven adoption. Trade tensions have historically driven capital into safe-haven assets.

这些发现是因为机构投资者将比特币的波动性和有限的危机流动性作为其安全采用的关键障碍。历史上，贸易紧张局势将资本驱动到避风港资产中。

With Trump’s Liberation Day announcement looming, investors preemptively position themselves again, favoring gold over Bitcoin.

随着特朗普的解放日宣布迫在眉睫，投资者再次抢先地定位自己，而不是比特币。

Nevertheless, despite Bitcoin’s struggle to capture institutional safe-haven flows, its long-term narrative remains intact. This is seen with Bitcoin supply on exchanges dropping to just 7.53%, the lowest since February 2018.

然而，尽管比特币努力捕获机构避风港的流动，但其长期叙述仍然完好无损。这是自2018年2月以来最低的交易所比特币供应量下降到7.53％的供应。

When an asset’s supply on exchanges reduces, investors are unwilling to sell, suggesting strong long-term holder confidence.

当资产的交易所供应减少时，投资者不愿出售，这表明长期持有人的信心很强。