加密货币市场面临着动荡的Q1 2025

加密货币市场面临着动荡的Q1 2025，比特币（BTC），以太坊（ETH）和山寨币（Ethereum（ETH））和山寨币（Altcoins）遭受了陡峭的校正

The cryptocurrency market encountered turbulent times in Q1 2025, with Bitcoin (BTC), Ethereum (ETH), and altcoins sustaining significant losses amid escalating global economic tensions.

在2025年第1季度，加密货币市场遇到了动荡的时代，比特币（BTC），以太坊（ETH）和Altcoins在全球经济紧张局势升级时遭受了巨大损失。

According to a recent report by digital asset research firm Kaiko, the crypto market’s average weekly trading volumes on major exchanges plummeted by more than 30% quarter-on-quarter. These declines were particularly pronounced in offshore exchanges, indicating reduced levels of participation and potentially signaling investors’ growing caution.

根据数字资产研究公司Kaiko最近的一份报告，加密货币市场在主要交易所的平均每周交易量下降了超过30％的四分之一季度。这些下降在离岸交易所中尤为明显，表明参与水平降低，并有潜在地发出了投资者的谨慎态度。

Key altcoins faced even steeper price declines, with the report highlighting that altcoins sustained losses exceeding 50% during the quarter.

主要的Altcoins面临更高的价格下降，该报告强调，该季度的替代币损失超过50％。

Among the world’s top six altcoins, Cardano’s ADA token exhibited multi-year highs in volatility. Additionally, the report noted that ETH and Solana (SOL) encountered sustained downward pressure throughout the quarter.

在世界排名前六的山寨币中，卡尔达诺（Cardano）的ADA代币展现了多年的波动性。此外，该报告指出，ETH和SOLANA（SOL）在整个季度遇到了持续的向下压力。

In contrast to the triple-digit losses seen in altcoins, BTC’s price movements were less extreme. After reaching a record high above $90,000 in January, BTC is now down 25% from its peak and is currently trading at around $82,000.

与AltCoins中看到的三位数损失相反，BTC的价格变动不那么极端。在一月份达到了纪录高于90,000美元以上的创纪录之后，BTC现在的峰值下降了25％，目前的交易价格约为82,000美元。

As investors process the implications of Donald Trump’s return to the White House and the market optimism that quickly faded with a surge in geopolitical uncertainty and volatile tariff announcements, they are becoming increasingly risk-averse, largely contributing to the crypto market’s downturn.

随着投资者处理唐纳德·特朗普（Donald Trump）返回白宫的影响，以及随着地缘政治不确定性和波动性关税公告激增的迅速消失的市场乐观情绪，他们正变得越来越避免风险，这在很大程度上促进了加密货币市场的下降。

President Trump’s re-introduction of aggressive trade tariffs has had a significant impact on financial markets. While the president anticipates these policies will cause short-term pain, his administration maintains that it’s a necessary move for long-term economic stability.

特朗普总统重新引入了积极的贸易关税，对金融市场产生了重大影响。总统预计这些政策将引起短期痛苦，但他的政府坚持认为这是长期经济稳定的必要举措。

As markets navigate this period of heightened volatility, the crypto space has also been affected. The Kaiko report highlights that offshore exchanges experienced a steeper decline in activity, whereas U.S.-based platforms like Coinbase, Kraken, and CEX.IO helped buffer BTC’s liquidity to a greater extent thanks to stronger market depth. Despite this resilience, investor confidence remains shaky.

随着市场驾驶这一时期的波动性，加密货币空间也受到了影响。 Kaiko报告强调，近海交易所的活动下降幅度急剧下降，而Coinbase，Kraken和Cex.io等美国的平台则在更大程度上帮助BTC的流动性得益于更强的市场深度。尽管具有这种韧性，但投资者的信心仍然摇摇欲坠。

Chicago Fed President Austan Goolsbee has raised red flags, comparing the current environment to early COVID-19 market conditions. He warns that a sustained collapse in investor sentiment could damage broader economic stability, especially as the U.S. economy is still recovering.

芝加哥美联储总统奥斯坦·古尔斯比（Austan Goolsbee）提出了危险信号，将当前的环境与库维德（Covid）早期的市场状况进行了比较。他警告说，投资者情绪持续崩溃可能会损害更广泛的经济稳定，尤其是在美国经济仍在恢复中。

However, despite the gloomy outlooks from economists and the pessimistic signals from the market, some analysts remain optimistic about BTC’s price potential in the coming months.

然而，尽管经济学家和市场上的悲观信号的看法令人沮丧，但一些分析师仍然对BTC在未来几个月的价格潜力保持乐观。

After hitting a local high of $88,624 on March 24, BTC experienced a decline below $80,000. Nonetheless, the world’s leading cryptocurrency has since rebounded slightly and is currently trading above $82,000.

在3月24日达到了88,624美元的当地高点之后，BTC的下降低于80,000美元。尽管如此，此后，全球领先的加密货币略有反弹，目前的交易价格超过82,000美元。

As BTC hovers above a critical support level and analysts from FxPro and CryptoQuant offer their insights, the door remains open for either a bullish continuation or a bearish reversal.

随着BTC徘徊在关键的支持水平上，FXPRO和CryptoQuant的分析师提供了他们的见解，因此对于看涨的延续或看跌的逆转，门仍然开放。

According to FxPro’s senior market analyst Alexander Kuptsikevich, Bitcoin is still testing the upper boundary of a long-standing correction trend, having moved in a downward channel since February 2024. A breakout above the $84,000-$85,000 resistance could set up a continuation of the broader uptrend, potentially opening the way for a rally to $96,000. Conversely, anything below the $78,000-$79,000 support could invalidate bullish expectations and suggest further weakness ahead.

根据FXPRO的高级市场分析师亚历山大·库普西克维奇（Alexander Kuptsikevich）的说法，比特币仍在测试长期校正趋势的上限，自2024年2月以来，它已经在向下的渠道中移动了。超过84,000-85,000美元的抵抗力的突破可能会延续更广泛的上升，并有潜在地向上开放，从而使一场比赛的速度启动至96,000美元。966,000美元。相反，低于$ 78,000- $ 79,000的支持可能会使看涨期望无效，并提出进一步的弱点。

Meanwhile, CryptoQuant analyst Ben Ritchie highlights that BTC must reclaim the $85,000-$86,000 level to regain positive momentum. Until then, Bitcoin remains locked in a range, with its price movements being largely driven by macro-economic uncertainty and, more recently, tariff-related fear.

同时，加密分析师Ben Ritchie强调，BTC必须收回$ 85,000- $ 86,000的水平才能恢复积极的势头。在此之前，比特币仍然被锁定在一定范围内，其价格变动主要是由宏观经济不确定性驱动的，并且最近与关税相关的恐惧。

After hitting a critical demand zone at $1,387 in December 2024, Ethereum (ETH) experienced a substantial recovery, rallying to new all-time highs in January 2025.

在2024年12月，以太坊（ETH）达到关键需求区为1,387美元之后，经历了大量的恢复，并在2025年1月提高了新的历史最高点。

However, ETH’s recovery has been fragile, and the cryptocurrency is now facing renewed selling pressure as macroeconomic headwinds escalate.

但是，ETH的复苏一直很脆弱，随着宏观经济逆风的升级，加密货币现在正面临着新的销售压力。

ETH price is approaching historical demand zone

ETH价格正在接近历史需求区

As ETH trades below $1,500 once again, analysts at crypto derivatives trading firm MTX are highlighting the MVRV Extreme Deviation Bands. These Bands measure the difference between an asset’s market price and its realized price (the average price at which coins last changed hands).

随着ETH再次低于1,500美元的交易，加密衍生品交易公司MTX的分析师正在强调MVRV极端偏差频段。这些乐队衡量了资产的市场价格与已实现的价格之间的差异（硬币上次易手的平均价格）。

According to MTX, ETH is nearing the -1 standard deviation pricing band at $1,387. Throughout the previous bull and bear markets, ETH has typically found support at this price level, which is also the lower bound of the critical Accumulation Zone, indicating potential hyper-accumulation activity in this price region.

根据MTX的说法，ETH接近-1标准偏差定价频段，价格为1,387美元。在以前的牛市和熊市中，ETH通常在此价格水平上找到了支持，这也是关键积累区的下限，表明该价格区域的潜在超积累活动。

Moreover, ETH’s realized price currently stands at $2,005. This suggests that, in the short-term, at least, there might be

此外，ETH的实现价格目前为2,005美元。这表明至少在短期内，