美国市场在地缘政治和经济逆风中渡过波涛汹涌的水域

尽管上周比特币价值大幅下跌，但加密货币市场已出现一定程度的复苏，比特币上涨 9% 至 65,000 美元。专家将市场波动归因于地缘政治紧张局势和美联储加息的可能性，导致投资者寻求美元庇护。尽管现货比特币 ETF 出现净流出，但分析师认为，这些产品更广泛的审批流程可能会推动未来的需求。然而，山寨币遭受了重大损失，引发了加密货币交易者的担忧，并对牛市的持续性提出了疑问。

Shifting Crypto Market Navigates Geopolitical and Economic Headwinds

不断变化的加密货币市场应对地缘政治和经济逆风

The crypto market has experienced volatility in recent days, with Bitcoin reaching a weekly low of $59,573 on Friday, according to CoinGecko. This significant departure from the all-time high of $73,000 witnessed last month has sparked concern among investors. However, the market has since rebounded, with Bitcoin trading near $65,000 on Friday afternoon.

据 CoinGecko 称，加密货币市场最近几天经历了波动，比特币周五触及 59,573 美元的周低点。与上个月创下的 73,000 美元历史高点的显着背离引发了投资者的担忧。然而，此后市场出现反弹，周五下午比特币交易价格接近 65,000 美元。

"Macroeconomic factors have played a crucial role in driving the crypto market," said Sean Farrell, Head of Digital Asset Strategy at Fundstrat Global Advisors. "Recent geopolitical tensions in the Middle East and stronger-than-expected economic data in the United States have created a 'perfect storm' of negative news."

Fundstrat Global Advisors 数字资产策略主管 Sean Farrell 表示：“宏观经济因素在推动加密货币市场发展方面发挥了至关重要的作用。” “近期中东地缘政治紧张局势和美国强于预期的经济数据引发了负面消息的‘完美风暴’。”

Farrell explained that heightened uncertainty prompts investors to seek refuge in the US dollar, leading to a sell-off in crypto assets. Additionally, concerns about rising inflation, as indicated by the Bureau of Labor Statistics' Consumer Price Index (CPI), have heightened fears that the Federal Reserve may adopt a more hawkish monetary policy.

法雷尔解释说，不确定性加剧促使投资者寻求美元避难，导致加密资产遭到抛售。此外，美国劳工统计局的消费者价格指数（CPI）表明，对通胀上升的担忧加剧了人们对美联储可能采取更强硬货币政策的担忧。

"The perception of Federal Reserve rate cuts has shifted from mid-year to much later," said Zach Pandl, Managing Director of Research at Grayscale. "This policy pivot has had a dampening effect on various assets, including cryptocurrencies."

Grayscale 研究董事总经理扎克·潘德尔 (Zach Pandl) 表示：“人们对美联储降息的看法已经从年中转向了更晚的时间。” “这一政策支点对包括加密货币在内的各种资产产生了抑制作用。”

Pandl also pointed to declining inflows into spot Bitcoin ETFs as a potential contributor to Bitcoin's weakness. Data from Coinglass reveals net outflows totaling $319 million from spot Bitcoin ETFs since last Friday. However, it is worth noting that these investment vehicles were only recently approved in January, and their full impact may still be unfolding.

Pandl 还指出，现货比特币 ETF 的流入量下降是导致比特币疲软的一个潜在因素。 Coinglass 的数据显示，自上周五以来，现货比特币 ETF 的净流出总额为 3.19 亿美元。然而，值得注意的是，这些投资工具最近才在一月份获得批准，其全面影响可能仍在显现。

"We anticipate another wave of ETF demand as these products gain wider acceptance among financial advisors and platforms," said Pandl. "However, the recent leveling off in inflows has removed a positive catalyst for price appreciation."

潘德尔表示：“随着这些产品在金融顾问和平台中获得更广泛的接受，我们预计 ETF 需求将出现另一波浪潮。” “然而，近期资金流入趋于平稳，消除了价格上涨的积极催化剂。”

The volatility in the altcoin market has also affected the crypto community's overall sentiment. Pseudonymous crypto influencer @basedkarbon noted that steep losses among altcoins, such as Solana's Dogwifhat (WIF), have raised concerns about the end of the bull market.

山寨币市场的波动也影响了加密社区的整体情绪。匿名加密货币影响者 @basedkarbon 指出，Solana 的 Dogwifhat (WIF) 等山寨币的大幅亏损引发了人们对牛市结束的担忧。

"Based on multiple factors, I believe the bull market is far from over," said Brett Singer, analyst at Glassnode. "Bitcoin's MVRV Z-Score, which compares the current price to the price at which it was purchased, indicates a similarity to previous market cycles."

Glassnode 分析师布雷特·辛格 (Brett Singer) 表示：“基于多种因素，我认为牛市还远未结束。” “比特币的 MVRV Z 分数将当前价格与购买价格进行比较，表明与之前的市场周期相似。”

Singer explained that while geopolitical events may temporarily impact the market, the underlying fundamentals remain positive. "The market is exhibiting momentum and is behaving in a manner consistent with previous cycles," he said.

辛格解释说，虽然地缘政治事件可能会暂时影响市场，但基本面仍然乐观。他表示：“市场正在展现出动力，并且其表现方式与之前的周期一致。”

Despite the recent setbacks, the crypto market remains dynamic and subject to unforeseen events. Investors should exercise caution and consider the potential risks and rewards before making investment decisions.

尽管最近遭遇挫折，加密货币市场仍然充满活力，并容易受到不可预见事件的影响。投资者在做出投资决定之前应谨慎行事，并考虑潜在的风险和回报。