供需平衡以错误的方式倾斜

更广泛的市场对美国关税的反应表明，如果美国BTC-SPOT ETF开始报告大量流出，BTC可能面临着销售压力的加剧。

The broader market is reacting poorly to US tariffs, which could lead to increased selling pressure on BTC if US BTC-spot ETFs begin reporting significant outflows.

更广泛的市场对美国关税的反应较差，如果美国BTC-SPOT ETF开始报告大量外流，这可能会导致BTC的销售压力增加。

On January 31, the US BTC-spot ETF market reported net inflows of $318.6 million, contributing to weekly inflows of $559.5 million. While this trend has supported BTC demand, sustained outflows could erode investor confidence and cast doubt on the feasibility of a US Strategic Bitcoin Reserve (SBR).

1月31日，美国BTC-SPOT ETF市场报告说，净流入量为3.86亿美元，每周流入5.595亿美元。尽管这种趋势支持了BTC需求，但持续的流出可能会侵蚀投资者的信心，并对美国战略比特币储备（SBR）的可行性产生怀疑。

In late 2024, Senator Cynthia Lummis, Chair of the Senate Banking Subcommittee on Digital Assets, introduced the Bitcoin Act. The bill proposes that the US government acquire one million BTC over five years, with a mandatory holding period of 20 years.

2024年下半年，参议院银行资产小组委员会主席辛西娅·卢米斯（Cynthia Lummis）提出了《比特币法》。该法案建议，美国政府在五年内收购了100万BTC，其强制性持有期限为20年。

The designation of an asset for a strategic reserve is subject to approval by Congress, the Federal Reserve, the Treasury Department, and the President.

战略储备的资产指定必须获得国会，美联储，财政部和总统的批准。

BTC's recent price sensitivity to Fed monetary policy and government actions highlights its susceptibility to macroeconomic developments.

BTC最近对货币政策和政府行动的价格敏感性强调了其对宏观经济发展的敏感性。

Bitcoin Price Outlook

比特币价格前景

On February 2, BTC slid by 3.13%, following Saturday's 1.54% loss, closing at $97,882.

2月2日，BTC在周六的1.54％亏损之后下跌3.13％，收于97,882美元。

Multiple factors will dictate BTC's near-term trajectory, including Trump's policies, the Fed rate path, and US BTC-spot ETF flows.

多个因素将决定BTC的近期轨迹，包括特朗普的政策，美联储利率路径和美国BTC-SPOT ETF流。