加密货币扩大了幻灯片，将比特币发送到11月以来的最低水平

诸如加密货币之类的风险资产正处于压力下，因为特朗普的关税和政府解雇将鱼雷生长增长

Cryptocurrencies extended their slide on Monday, sending Bitcoin to the lowest level since November as escalating tariff-war tensions spurred concern about the economy that offset a wave of pro-crypto announcements from US President Donald Trump last week.

加密货币在周一扩大了滑梯，将比特币提升到11月以来的最低水平，因为不断上升的关税紧张局势引发了人们对经济的关注，这种经济抵消了上周美国总统唐纳德·特朗普的一系列亲克莱特托公告。

Risk assets such as crypto are coming under pressure amid anxiety that Trump’s tariffs and government firings will torpedo growth in the world’s largest economy. US equities slid and Treasuries rallied as investors sought a refuge.

加密货币之类的风险资产正处于压力下，因为特朗普的关税和政府解雇将在世界上最大的经济体中捕捞增长。随着投资者寻求避难所，美国股票滑行和国库会集会。

“While Trump’s strategic crypto reserve announcement initially drove optimism, the rally quickly unravelled amid aggressive selling linked to worsening macro conditions,” wrote Nikolay Karpenko, director at B2C2.

B2C2董事Nikolay Karpenko写道：“尽管特朗普的战略加密储备公告最初引起了乐观的兴趣，但由于与宏观条件恶化有关的积极销售，这次集会很快就揭露了。”

Bitcoin slid as much as 6.8 per cent to US$77,416, its lowest since Nov 10. Solana, Cardano and XRP, all tokens that Trump had mentioned as possible candidates for a digital asset stockpile but were not cited in Trump’s executive order, each slumped even more. Crypto-linked stocks slid, with Coinbase Global dropping 18 per cent for its biggest decline since July 2022 and Michael Saylor’s levered Bitcoin proxy Strategy losing 17 per cent.

比特币滑行多达6.8％，至77,416美元，最低自11月10日以来最低。Solana，Cardano和XRP，所有这些都提到了特朗普作为可能的数字资产库存候选人库存的候选人，但并未以特朗普的执行命令引用，每个人都跌倒了。与加密货币链接的股票滑行，Coinbase Global以自2022年7月以来的最大下降而下降18％，而Michael Saylor的杠杆比特币代理策略下跌了17％。

Trump’s crypto-friendly stance, including an order to create a US Bitcoin reserve and a separate stockpile of other tokens, along with a high-profile summit with industry executives in Washington on Friday (Mar 7), has done little to lift market sentiment. While the administration pledged to capitalise on the reserve with crypto seized in legal proceedings, the absence of fresh capital commitments disappointed investors.

特朗普对加密货币友好的立场，包括建立美国比特币储备和单独的其他令牌的命令，以及周五（3月7日）与华盛顿的行业高管举行的备受瞩目的峰会，对提升市场情绪几乎没有做到。尽管政府承诺在法律程序中抓住加密货币，但没有新的资本承诺使投资者失望。

“The market perceived the summit as underwhelming and top cryptocurrencies dropped after it was revealed that the widely anticipated crypto reserve would only hold existing government holdings,” said Jeff Mei, chief operating officer at crypto exchange BTSE.

Crypto Exchange BTSE首席运营官Jeff Mei表示：“市场认为，众多加密货币的竞争峰值下降了，据透露，人们普遍预期的加密储备只能持有现有的政府持股。”

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The US currently owns about US$17 billion worth of Bitcoin and about US$400 million worth of several other tokens, largely attributable to asset forfeitures related to civil and criminal cases.

美国目前拥有价值约170亿美元的比特币和约4亿美元的其他几个代币，这在很大程度上归因于与民事和刑事案件有关的资产没收。

Investors are rationally more bullish on crypto given recent developments such as the reduced US Securities and Exchange Commission enforcement, but other factors are more nuanced or even negative, said Ari Paul, co-founder of BlockTower Capital.

BlockTower Capital的联合创始人Ari Paul表示，鉴于美国证券交易委员会的执法减少，但其他因素更为细微甚至是负面，投资者对加密货币的看法更为看好。

“The apparent capricious favouritism in the administration’s selection of assets for the strategic reserve – especially after the launching of Trump and Melania coins – is a strong deterrent to investors,” Paul said in a message. “It’s created the impression that the Trump administration is engaged in lobbying based selection and promotion of ‘insider’ assets, and that the cryptocurrency market today is largely a short-term trading casino,” he added.

保罗在一份消息中说：“在政府选择战略储备的资产中，尤其是在特朗普和梅拉尼亚硬币推出后，显然具有反复无常的偏爱是对投资者的强烈威慑力。”他补充说：“这给人的印象是，特朗普政府从事基于游说的'内部人士'资产的选择和促进，而当今的加密货币市场在很大程度上是一个短期交易赌场。”

Crypto slump deepens as macro headwinds offset Trump push

当宏逆风抵消特朗普推动时，加密蓬勃发展加深

US regulator clears path for banks to engage in some crypto activities

美国监管机构清除了银行从事一些加密活动的道路

Trump’s Bitcoin reserve disappoints market, weighs on crypto

特朗普的比特币储备使市场失望，重视加密货币

Backlash to crypto-reserve plan raises doubts on its prospects

加密储备计划的反弹引起了人们对其前景的怀疑

Since February, investors have withdrawn a net US$4.4 billion from the group of US Bitcoin ETFs, which played a key role in the token’s record run last year. The largest crypto asset is currently down about 28 per cent from its record high of US$109,241 and the broader crypto market has lost over US$1 trillion in market capitalisation from its peak, according to CoinGecko.

自2月以来，投资者已从美国比特币ETF中撤回了44亿美元的净资金，该公司在去年的代币纪录中发挥了关键作用。根据Coingecko的说法，最大的加密资产目前比其创纪录的109,241美元的创纪录高度下降了约28％，而更广泛的加密货币市场从高峰起就损失了超过1万亿美元的市值。

“Bitcoin could very well drop to the US$70,000-US$80,000 range in the coming week. Only when this tariff war ends and the Fed resumes cutting rates will top cryptocurrencies resume trending towards previous all-time highs,” Mei added.

“比特币在下周很可能会降至70,000美元的$ 80,000范围。只有当这场关税战争结束并恢复削减速度时，最高加密货币才能恢复趋向于以前的历史高点。” Mei补充说。