比特币从一周开始的$ 81,800开始，在过去24小时内下降了1.98％

持续下降的下降已经引发了大约2.2亿美元的清算加密货币头寸，将比特币的下部低点延伸到连续第七天。

Bitcoin price slipped further on Monday, extending its streak of lower lows to a seventh consecutive day as sustained declines triggered roughly $220 million in liquidated crypto positions.

比特币价格在周一进一步下跌，将其较低低点的连胜延长到连续第七天，因为持续下降的下降触发了大约2.2亿美元的清算加密货币头寸。

Bitcoin began the week at around $81,800, marking a 1.98% decrease over the past 24 hours. This continues a weeklong downtrend that has seen the asset fall over 7% from its March 25 local peak of $88,400.

比特币在本周开始的价格约为81,800美元，在过去24小时内下降了1.98％。这持续了为期一周的下降趋势，该资产从3月25日的当地峰值88,400美元下降了7％。

The sustained decline has triggered roughly $220 million in liquidated crypto positions, according to CCChartData. These liquidations were largely concentrated on leveraged long positions in BTC, suggesting that traders were heavily betting on the asset to continue rallying. However, the anticipation of former President Donald Trump’s “Liberation Day” on April 2, during which he is expected to unveil sweeping “reciprocal tariffs,” has triggered a derisking trend across spot markets.

根据CCCHARTDATA的说法，持续下降的持续下降已引发了大约2.2亿美元的清算加密货币职位。这些清算主要集中在BTC的杠杆率高点上，这表明交易者大量投注资产继续集会。但是，对前总统唐纳德·特朗普（Donald Trump）在4月2日的“解放日”的期望，在此期间，他预计将宣传“互惠关税”，这引发了整个现货市场的趋势。

This derisking move reduces demand and increases investor hesitation, ultimately contributing to further price declines.

这一令人震惊的举动减少了需求并增加了投资者的犹豫，最终导致了进一步的价格下降。

The global crypto market capitalization has dropped to $2.65 trillion, a 1.77% decrease over the same 24-hour period, while daily trading volume has fallen by 1.4% to $57 billion.

全球加密市值已降至2.6.5万亿美元，在同一24小时内下降了1.77％，而每日交易量下降了1.4％，至570亿美元。

Macroeconomic Stress and Tariff Uncertainty Erode Market Confidence

宏观经济压力和关税不确定性侵蚀市场信心

The buildup of macroeconomic anxiety and the threat of U.S. tariffs have weighed heavily on both crypto and traditional financial markets.

宏观经济焦虑的积累和美国关税的威胁在加密和传统金融市场上都严重打击。

Rising trade tensions and the threat of a U.S. recession are prompting institutions and traders to unwind risky positions and seek safer assets, leading to selling pressure across equities and cryptocurrencies.

贸易紧张局势的上升和美国经济衰退的威胁促使机构和交易者放松危险的立场并寻求更安全的资产，从而导致股票和加密货币的销售压力。

Core PCE data released last week indicated higher-than-expected inflation, while consumer confidence declined to its lowest level in over a decade.

上周发布的核心PCE数据表明，通货膨胀率高于预期，而消费者的信心在十年来下降到了其最低水平。

Additionally, Goldman Sachs has raised its recession forecast from 20 percent to 35 percent due to elevated geopolitical and economic risk. This unbalanced view of the U.S. economy, tipped toward negative outlooks and difficulties, is rendering traditional safe-haven assets like gold more attractive.

此外，由于地缘政治和经济风险升高，高盛将其经济衰退预测从20％提高到35％。美国经济的这种不平衡的看法，朝着负面的前景和困难方面倾向于，使传统的避行资产（如黄金）更具吸引力。

The PCE price index rose 4.7% year-over-year in February, higher than the expected 4.3% and up from January's 4.6% increase. This was the largest annual gain since the third quarter of 2022.

2月份的PCE价格指数同比增长4.7％，高于预期的4.3％及以上4.6％的增长4.3％。这是自2022年第三季度以来最大的年收益。

The price index exluding food and energy rose 3.8% year-over-year in February, meeting expectations and slowing from January's 3.9% increase. This was the smallest annual gain in two years.

2月份的粮食和能源的价格指数同比增长了3.8％，达到了预期，并从1月份增长3.9％的增长速度下降。这是两年来最小的年收益。

Finally, the month-over-month increase in PCE was 0.5% in February, higher than the expected 0.3% and December's 0.1% increase. This was the largest monthly gain since May 2022.

最后，2月份的PCE月度增长为0.5％，高于预期的0.3％，而12月的0.1％则增长了0.1％。这是自2022年5月以来最大的月收益。

This unbalanced view of the U.S. economy, tipped toward negative outlooks and difficulties, is rendering traditional safe-haven assets like gold more attractive.

美国经济的这种不平衡的看法，朝着负面的前景和困难方面倾向于，使传统的避行资产（如黄金）更具吸引力。

The sustained decline in Bitcoin price coincides with widespread losses across the broader digital asset market.

比特币价格的持续下降与整个更广泛的数字资产市场的普遍损失相吻合。

The global crypto market capitalization has dropped to $2.65 trillion, a 1.77% decrease over the same 24-hour period, while daily trading volume has fallen by 1.4% to $57 billion.

全球加密市值已降至2.6.5万亿美元，在同一24小时内下降了1.77％，而每日交易量下降了1.4％，至570亿美元。

'Liberation Day' Set to Test Market Resilience

“解放日”将测试市场的弹性

The upcoming tariff announcement will likely be a key inflection point for crypto and broader financial markets.

即将到来的关税公告可能是加密和更广泛的金融市场的关键拐点。

Trump’s April 2 “Liberation Day” promises tariff hikes designed to reduce U.S. dependence on foreign goods, with targets including the European Union, South Korea, Brazil, and India, as CNBC reported.

特朗普在4月2日的“解放日”承诺，旨在减少我们对外国商品的依赖的关税加息，包括欧盟，韩国，巴西和印度在内的目标，如CNBC报道。

Goldman Sachs projects these duties could raise inflation and unemployment while stalling economic growth. Their forecast includes a potential increase in tariff rates by 15 percentage points, although carveouts for certain products and countries could reduce the effective increase to 9 percentage points.

高盛（Goldman Sachs）预计，这些职责可能会增加通货膨胀和失业，同时削弱经济增长。他们的预测包括关税率的潜在提高15个百分点，尽管某些产品和国家的分解可能会将有效增加到9个百分点。

According to Reuters, the immediate market impact will depend on the breadth and timeline of tariff implementation, particularly whether other nations respond in kind. If retaliation occurs, it could initiate a feedback loop of escalating trade restrictions.

据路透社报道，直接市场的影响将取决于关税实施的广度和时间表，尤其是其他国家是否以实物做出回应。如果发生报复，它可能会引发贸易限制的反馈回路。

This scenario poses a significant challenge to traders and institutions, who must navigate an unpredictable political landscape with the potential for rapid shifts in market trends.

这种情况对贸易商和机构构成了重大挑战，他们必须驾驶不可预测的政治格局，并可能快速转移市场趋势。

If other countries retaliate with their own tariffs or trade restrictions, it could lead to a vicious cycle of escalating trade tensions. This scenario would likely increase market volatility and create difficulties for traders and institutions to manage their positions and investments.

如果其他国家对自己的关税或贸易限制进行报复，则可能导致贸易紧张局势升级的恶性循环。这种情况可能会增加市场波动，并为交易者和机构管理其头寸和投资带来困难。

On the other hand, if other countries do not retaliate and accept the U.S. tariffs, the immediate impact might be less severe. However, the long-term consequences of these tariffs on global trade flows and economic interdependence remain a pressing concern.

另一方面，如果其他国家不进行报复和接受美国的关税，那么直接影响可能会不会那么严重。但是，这些关税对全球贸易流量和经济相互依存的长期后果仍然是一个紧迫的关注点。

Ultimately, the coming days will be critical for assessing resilient investor sentiment in the face of potential policy shocks and persistent macro headwinds

最终，面对潜在的政策冲击和持续的宏观逆风，接下来的日子对于评估弹性投资者情绪至关重要