下次美国总统唐纳德·特朗普（Donald Trump）向市场登上关税时，比特币投资者不会闪烁

Bitmex的联合创始人海斯（Hayes）在周二的博客文章中写道，比特币最近的低迷为74,500美元，标志着资产的底部，它会像黄金一样“仅”。

The next time US President Donald Trump sends markets cratering with tariffs, Bitcoin (BTC) investors won’t blink, predicts Arthur Hayes.

亚瑟·海斯（Arthur Hayes）预测，下次美国总统唐纳德·特朗普（Donald Trump）下次向市场带来关税时，比特币（BTC）投资者不会眨眼。

In a blog post on Tuesday, the BitMEX co-founder said that Bitcoin’s recent slump to $74,500 had marked the asset’s bottom, and it would go “up only” just like gold.

Bitmex联合创始人在周二的博客文章中说，比特币最近的低迷至74,500美元标志着资产的底部，它将像黄金一样“仅”。

Bitcoin would shed its association with tech stocks and will rejoin gold in the “up only” cuddle position, Hayes said.

海耶斯说，比特币将与科技股的关联，并将在“仅”拥抱位置重新加入黄金。

Bitcoin's price crossed $93,000 on Wednesday and has surged 25% from its March lows in the last few days.

比特币的价格在周三的价格达到了93,000美元，最近几天的三月低点飙升了25％。

The rebound is in tandem with a broader market recovery; US stock futures on Wednesday were up 0.9% and signalled that they were poised to open higher after the Trump administration signalled its intention to negotiate a trade deal with China.

反弹与更广泛的市场回收率同时；美国股票期货周三上涨了0.9％，并表示在特朗普政府表示打算与中国达成贸易协定的意图后，他们有望开放。

But Bitcoin had reached a pivotal stage by decoupling from the equities market, said Hayes, who is also a keen follower of the US president’s trade policy moves.

海耶斯说，但比特币通过与股票市场解耦，达到了一个关键的阶段，他也是美国总统贸易政策举动的热衷于追随者。

Ever since the Covid-19 pandemic, Bitcoin and the rest of crypto had largely tracked stocks, especially tech shares, as a “risk-on” asset. This made the cryptocurrency susceptible to monetary policy by the Federal Reserve, as well as macroeconomic forces such as inflation.

自从COVID-19大流行以来，比特币和其他加密货币的其余部分主要追踪了股票，尤其是技术股份，作为“风险持续”资产。这使得加密货币容易受到美联储以及通货膨胀等宏观经济力量的货币政策。

Now Hayes is part of a chorus of Bitcoin investors who say it is finally fulfilling its destiny as a store of value or haven asset, like gold. This should make it useful as a hedge against market panics.

现在，海耶斯是比特币投资者合唱的一部分，他们说，它终于实现了其作为价值或避风港资产的命运，例如黄金。这应该使其可作为对市场恐慌的对冲。

Any investor with US stock and bonds is looking for something whose value is anti-establishment, physically that’s gold and digitally that’s Bitcoin, said Hayes.

Hayes说，任何拥有美国股票和债券的投资者都在寻找具有反建立价值的东西，从物理上讲是黄金和数字上的比特币。

Gold was trading at $3,300 per ounce on Wednesday and has climbed 43% in the last 12 months.

黄金周三的交易价格为每盎司3,300美元，在过去的12个月中攀升了43％。

The sudden shift in Bitcoin's behaviour has long been desired by maxis.

马克斯长期以来一直希望比特币行为的突然转变。

For years, sceptics have derided its purported role as a hedge against macroeconomic risk, especially after it failed to provide a safe harbour during the double-digit surge in consumer prices in the US and Europe in 2022 and 2023.

多年来，持怀疑态度一直嘲笑其所谓的对冲宏观经济风险的角色，尤其是在2022年和2023年美国和欧洲的消费者价格上涨期间未能提供安全港口。

To be sure, Bitcoin’s decoupling is still in its earliest stages and may still reverse.

可以肯定的是，比特币的脱钩仍处于最早的阶段，并且可能仍会逆转。

Still, Bernstein analysts noted that Bitcoin's outperformance of theNasdaq during the tariff turmoil was “striking.” Eric Balchunas, Bloomberg Intelligence's ETF analyst, said Bitcoin was already showing negative correlation to stocks.

尽管如此，伯恩斯坦分析师仍然指出，在关税动荡期间，比特币对ThenASDAQ的表现是“惊人的”。彭博情报公司ETF分析师埃里克·巴尔库纳斯（Eric Balchunas）表示，比特币已经显示出与股票的负相关。

As Bitcoin sheds its tech proxy skin, Hayes said the price could reach just shy of $200,000. He previously predicted Bitcoin could jump to $250,000 this year.

当比特币脱下技术代理皮肤时，海耶斯表示，价格可能仅为20万美元。他以前预测比特币今年可能会跃升至25万美元。

Other market observers also expect a major resurgence for Bitcoin.

其他市场观察家也预计比特币将有一个重大的复兴。

Zach Pandl, Grayscale's research head, told DL News this week that Bitcoin's price performance in April has validated its position as a “portfolio diversifier” and that it was bound to exceed its peak price of $108,000 this year.

Grayscale的研究负责人Zach Pandl本周告诉DL News，Bitcoin在4月份的价格绩效已验证了其作为“投资组合多元化者”的地位，并且今年势必会超过其峰值价格108,000美元。