如果黄金向后拉，以太坊（ETH）可以胜过比特币（BTC）

黄金最近在$ 3100大关上粉碎了；但是，一些分析师认为这次集会可以表明市场转变的开始

Gold prices recently broke through the $3,100 mark, but some analysts believe this rally could signal the start of a significant market shift, not just further gains for the metal itself.

黄金价格最近打破了3,100美元的大关，但一些分析师认为，这次集会可以表明市场转变的开始，而不仅仅是金属本身的进一步增长。

According to market expert Michael van de Poppe, Ethereum (ETH) could outperform Bitcoin (BTC) if Gold pulls back sometime in April. This prediction may sound ambitious, considering ETH’s recently lagging price momentum. Yet it is not entirely unfounded based on historical market patterns.

据市场专家迈克尔·范·德·波普（Michael van de Poppe）称，如果戈德（Gold）在四月的某个时候退缩，以太坊（ETH）可以胜过比特币（BTC）。考虑到ETH最近的价格势头，这一预测听起来可能雄心勃勃。然而，它并非完全基于历史市场模式而毫无根据。

When a major safe-haven asset like Gold rallies aggressively for an extended period, a price correction often follows eventually. In such a scenario, where demand for traditional hedges shrinks, investors may begin pushing liquidity back into riskier assets like Ethereum, fueling the next major crypto breakout.

当像黄金集会这样的主要避风港资产在长时间内积极地集会时，价格更正通常会随之而来。在这种情况下，对传统对冲的需求缩小，投资者可能会开始将流动性推向以太坊等风险较高的资产，从而加剧了下一个重大的加密货币突破。

This capital rotation could also mark the beginning of a broader “Altcoin Season,” as this would signify increasing investor risk appetite flowing towards various digital assets beyond Bitcoin.

这种资本轮换也可能标志着更广泛的“替代季节”的开始，因为这将表示不断增加的投资者风险食欲，这些胃口流向了比特币以外的各种数字资产。

While Gold’s relentless drive beyond $3,100 might attract more capital into the safe-haven asset in the immediate near-term, many market analysts speculate that gold might be entering the final leg of its current major rally cycle.

尽管黄金的无情驱动器超过3,100美元，可能会在即时的近期中吸引更多的资本进入避风港资产，但许多市场分析师推测，黄金可能会进入其当前主要集会周期的最后一站。

These concerns stem partly from a mix of complex geopolitical and macroeconomic factors. This includes current global uncertainty possibly magnified by President Donald Trump’s announced stance on international trade tariffs.

这些关注部分源于复杂的地缘政治和宏观经济因素的混合。这包括当前唐纳德·特朗普总统对国际贸易关税的立场可能放大了当前的全球不确定性。

The US president is reportedly considering levying higher tariffs on several nations soon. His administration’s earlier announced reciprocal tariffs were slated to begin taking effect today, April 2 (“Liberation Day”).

据报道，美国总统正在考虑很快对几个国家征收更高的关税。他的政府早些时候宣布的相互关税计划于4月2日（“解放日”）开始生效。

While institutions like Bank of America have raised gold targets ($3,063 per ounce (oz) in 2025 and $3,350/oz in 2026), shifting fiscal policies, potential tariffs escalations could temper the rally.

尽管美国银行等机构已经提高了黄金目标（2025年的每盎司3,063美元（OZ）和2026年的3,350美元/盎司），但转移的财政政策，但潜在的关税升级可能会降低集会。

Due to these concerns about gold potentially nearing a peak, some traders now look for signs of exhaustion in its price momentum. This scenario, if it plays out, provides a potential opportunity for altcoins to regain market strength and attention.

由于对黄金可能接近高峰的这些担忧，一些交易者现在在其价格动力中寻找疲惫的迹象。这种情况（如果局势）为Altcoins提供了潜在的机会，可以恢复市场实力和关注。

Historically, Gold and cryptocurrency markets have sometimes exhibited an inverse correlation during certain periods. This often occurs during times of rapidly shifting investor sentiment between seeking safety (risk-off) and seeking higher returns (risk-on).

从历史上看，黄金和加密货币市场有时在某些时期表现出逆相关性。这通常发生在寻求安全（冒险）和寻求更高回报（风险登机）之间的投资者情绪迅速转移的时期。

While the current technical downtrend observed in the ETH/BTC trading pair makes it challenging for Ethereum to immediately find a bottom and recover relative strength against Bitcoin, a trend reversal remains a possibility, especially if market conditions shift, and analysts predict such a trend shift favoring altcoins could begin as early as April.

尽管当前在ETH/BTC交易对中观察到的技术下降趋势使以太坊立即找到对比特币的底部并恢复相对强度的挑战，但趋势逆转仍然是一种可能性，尤其是在市场条件变化的情况下，分析师预测，这种趋势转移的趋势转移会在4月初开始。