标题：这是不断浸入的蘸料

比特币周五早些时候又有一次命中，下降到80,000美元以下，2月下降到20％以上

It's the dip that keeps on dipping.

这是不断浸入的蘸料。

Bitcoin took another hit early Friday, falling below $80,000 and February's decline to over 20%. That spurred a bloodbath in the broader crypto market, with ether sliding below $2,100, a level it managed to hold since August.

比特币周五早些时候再次受到打击，下降到80,000美元以下，2月的下降到20％以上。这刺激了更广泛的加密货币市场的血液浴，以太滑行低于2,100美元，这是自八月以来设法持有的水平。

It's not just crypto.

这不仅是加密。

The threat of U.S. President Donald Trump imposing tariffs on Canada, Mexico and China saw traders rotating out of riskier assets, leading to a sell-off in growth-sensitive commodity currencies, such as the Australian, New Zealand and Canadian dollars.

美国总统唐纳德·特朗普（Donald Trump）对加拿大，墨西哥和中国征收关税的威胁使商人从风险较高的资产中旋转，导致卖出了增长敏感的商品货币，例如澳大利亚人，新西兰和加拿大的美元。

These moves, which saw the VIX, or Wall Street's so-called fear gauge, rise by 14%, are also putting pressure on the administration to quickly carry out the reciprocal tariff plan, which is meant to align U.S. trade duties with those of other nations.

这些举动看到VIX或华尔街所谓的恐惧量表上升了14％，也向政府施加压力，要求其迅速执行互惠关税计划，该计划旨在使美国贸易职责与其他国家的贸易职责保持一致。

"U.S. domestic policies have become unstable, and the White House seems happy to take advantage of this instability," said Griffin Ardern, head of options trading and research at crypto financial platform BloFin. "Given the challenges investors face in obtaining accurate forward-looking guidance, many are more inclined to hold low-volatility assets such as the dollar or U.S. bonds.

Crypto Financial Platform Blofin的期权交易和研究主管Griffin Ardern说：“美国国内政策变得不稳定，白宫似乎很乐意利用这种不稳定。” “鉴于投资者在获得准确的前瞻性指导方面面临的挑战，许多人更倾向于持有低挥发性资产，例如美元或美国债券。

"At the same time, traders need to liquidate positions to reduce their exposure to specific assets before transitioning to other markets, which explains the decline across almost all asset classes, including cryptocurrencies."

“同时，交易者需要清算头寸，以在过渡到其他市场之前减少其对特定资产的影响，这解释了包括加密货币在内的几乎所有资产类别的下降。”

These moves saw the 30-day implied volatility in bitcoin, which is tracked by Volmex BVIV, rise by 10%, while the MOVE index, which measures the implied volatility of U.S. Treasury notes, saw an equal increase.

这些举动看到，比特币中的30天隐含波动率在Volmex Bviv跟踪的情况下上升了10％，而移动指数（衡量了美国国库注释的隐含波动率）的增长相等。

This volatility looks set to remain heightened, with President Trump reportedly scheduled to speak later on Friday.

据报道，特朗普总统定于周五晚些时候发表讲话，这种波动似乎将保持增强。

In the meantime, those hoping for a significant rebound in risk assets based on personal consumption data may be disappointed because anticipated soft readings could be overshadowed by tariff concerns and rising forward-looking inflation metrics.

同时，那些希望基于个人消费数据获得大量风险资产反弹的人可能会感到失望，因为预期的软读数可能会因关税问题和前瞻性通货膨胀指标而被掩盖。

But while the outlook may seem gloomy, there were some more positive developments to report once the macro dust settles.

但是，尽管前景似乎令人沮丧，但一旦宏观尘埃落定，还有更多积极的发展要报告。

Namely, this week saw the SEC drop charges against Uniswap, one of the leading decentralized exchanges, and mull doing the same regarding its issues with Consensys.

也就是说，本周，SEC对Uniswap的投票指控是领先的分散交易所之一，而Mull就其与Consensys的问题做了同样的事情。

As Evgeny Gaevoy, CEO of leading market maker Wintermute, pointed out at Consensus Hong Kong last week, many are overlooking the evolving attitude of the SEC, and this is a factor the market has yet to fully price in.

正如领先的市政公司Wintermute的首席执行官Evgeny Gaevoy上周指出了香港共识，许多人忽略了SEC的不断发展的态度，这是市场尚未完全代价的一个因素。

Plus, the decline in the basis in the CME bitcoin and ether futures, a sign of weakening demand, has stalled and from a technical analysis perspective, bitcoin is fast closing toward a potential demand zone. So, stay alert!What to WatchCrypto:March 1: Spot trading on the Arkham Exchange goes live in 17 U.S. states.

另外，CME比特币和以太期货的基础下降（需求削弱的标志）已经停滞不前，从技术分析的角度来看，比特币正迅速迈向潜在需求区域。因此，请保持警惕！3月1日要看什么：Arkham Exchange的现货交易在美国17个州进行。

March 5, 2:29 a.m.: Ethereum testnet Sepolia gets the Pectra hard fork network upgrade at epoch 222464.

3月5日，上午2:29：以太坊Testnet Sepolia在Epoch 222464上获得Pectra Hard Fork网络升级。

March 15: Athene Network (ATH) mainnet launch.

3月15日：Athene Network（ATH）Mainnet发布。

March 24, 11:00 a.m.: Bugis network upgrade goes live on Enjin Matrixchain mainnet.

3月24日，上午11:00：Bugis Network升级将在Enjin Matrixchain Mainnet上直播。

Macro

宏

Feb. 28, 8:30 a.m.: The U.S. Bureau of Economic Analysis releases January personal consumption and expenditure data.

2月28日，上午8:30：美国经济分析局发布了一月份的个人消费和支出数据。

Core PCE Price Index MoM Est. 0.3% vs. Prev. 0.2%

核心PCE价格指数妈妈EST。 0.3％与上一篇。 0.2％

Core PCE Price Index YoY Est. 2.6% vs. Prev. 2.8%

核心PCE价格指数YOY EST。 2.6％vs.上一条。 2.8％

PCE Price Index MoM Est. 0.3% vs. Prev. 0.3%

PCE价格索引妈妈EST。 0.3％与上一篇。 0.3％

PCE Price Index YoY Est. 2.5% vs. Prev. 2.6%

PCE价格指数YOY EST。 2.5％与上一条。 2.6％

Personal Income MoM Est. 0.3% vs. Prev. 0.4%

个人收入妈妈Est。 0.3％与上一篇。 0.4％

Personal Spending MoM Est. 0.1% vs. Prev. 0.7%

私人妈妈EST。 0.1％与上一篇。 0.7％

March 2, 8:45 p.m.: Caixin and S&P Global release February China manufacturing data.

3月2日，晚上8:45：Caixin和S＆P全球2月份中国制造数据。

Manufacturing PMI Prev. 50.1

制造PMI上一条。 50.1

EarningsMarch 6 (TBC): Bitfarms (BITF), $-0.04

EnationMarch 6（TBC）：Bitfarms（BitF），$ -0.04

March 17 (TBC): Bit Digital (BTDIGITAL), $-0.05

3月17日（TBC）：位数字（Btdigital），$ -0.05

March 18 (TBC): TeraWulf (WULF), $-0.03

3月18日（TBC）：Terawulf（Wulf），$ -0.03

March 24 (TBC): Galaxy Digital (TSE:GLXY), C$0.38Token EventsGovernances votes & calls

3月24日（TBC）：Galaxy Digital（TSE：GLXY），C $ 0.38TOKEN EventsGovernances投票和电话

Sky DAO is discussing the reduction of the Smart Burn Engine activity, which would effectively reduce the rate of SKY token buybacks from around 1 million USDS to 400,000

Sky Dao正在讨论智能燃烧发动机活动的减少，这将有效地将Sky代币回购的速度从约100万USD降低到40万USD