审查的一周：随着宏观经济状况的变化，比特币和以太坊领导了费用

一周开始时，股票和加密货币市场都慢慢磨损，这只是上一周的价格行动的延续。但是随着日子的发展，情况发生了变化。本周下半年带来了更强大的看涨行动，因为宏观经济状况变化略有好。

The week began with a slow grind lower in both equities and crypto markets simply a continuation of the prior week's price action. But as the days went on, things shifted. The latter half of the week brought stronger bullish action as macroeconomic conditions turned slightly more favorable.

一周开始，股票和加密货币市场的磨损较慢，只是上一周的价格行动的延续。但是随着日子的发展，情况发生了变化。本周下半年带来了更强大的看涨行动，因为宏观经济状况变化略有好。

The total crypto market cap rose by 4.49%, moving from $2.739 trillion to $2.862 trillion. Altcoins finally showed some renewed interest, riding alongside Bitcoin's strength.

加密货币总额增长了4.49％，从2.739万亿美元转移到2.862万亿美元。 Altcoins终于表现出了一些新的兴趣，与比特币的实力一起骑行。

Bitcoin and Ethereum Lead the Charge

比特币和以太坊领导

Bitcoin (BTC) ended the week up by 3.82%. However, the real surprise came from Ethereum (ETH), which outperformed with an impressive 6.44% gain from the previous week.

比特币（BTC）在本周结束3.82％。但是，真正的惊喜来自以太坊（ETH），比上周比上一周的收益超过6.44％。

Daily liquidations stayed mostly muted, rarely crossing $250 million. The only notable spike occurred on the 19th of March when $259 million worth of shorts were wiped out after the initial reaction to the FOMC.

每日清算大部分都静音，很少超过2.5亿美元。唯一值得注意的钉发生在3月19日，当时价值2.59亿美元的短裤在对FOMC的最初反应后被淘汰。

Funding rates remained largely directionless, hovering in the low positive range. Yet, some rates stayed negative a reminder that the market still holds a risk-off stance toward altcoins.

资金率基本上是无方向性的，徘徊在低正范围内。然而，有些利率保持负面，提醒人们，市场仍然对山寨币保持着冒险的立场。

Major Headlines: Saylor's Strategy and Solana ETFs

主要头条：Saylor的策略和Solana ETF

There was no shortage of big headlines this week. Saylor's Strategy (previously MicroStrategy) announced Strife (STRF), a new $5 million perpetual preferred stock offering that will accumulate dividends at 10% per annum.

本周不乏大头条新闻。 Saylor的策略（以前的MicroStrategy）宣布了Frife（Strf），这是一种新的500万美元永久优先股，将以每年10％的股息积累股息。

On top of that, Strategy acquired 130 BTC for $10.7 million at an average price of $82,981 per Bitcoin one of their smallest purchases to date.

最重要的是，策略以1,070万美元的价格以每比特币为82,981美元的平均价格收购了130万美元，这是他们迄今为止最小的购买之一。

Another major milestone was achieved with the launch of two Solana futures ETFs by Volatility Shares LLC in the US. These are the first of their kind and mirror existing products like BITX and BITO for Bitcoin.

通过波动性股份有限责任公司在美国推出了两个Solana Futures ETF实现了另一个主要的里程碑。这些是同类产品中的第一个，也是现有的产品，例如比特币的Bitx和Bito。

Macroeconomics Take Center Stage

宏观经济学成为中心舞台

This week's market performance was closely tied to macroeconomic events. The crypto market largely mirrored the action in traditional markets. A dovish FOMC led to a strong pump across both equities and crypto. While crypto markets did not quite see solid follow-through as much of the market was still nervous.

本周的市场表现与宏观经济事件紧密相关。加密市场在很大程度上反映了传统市场的行动。肮脏的FOMC导致了股票和加密货币的强大泵。尽管加密市场并没有完全看到稳固的跟进，因为大部分市场仍然很紧张。

The S&P 500 gained 1.66% on the week, and the Nasdaq lagged slightly with a 1.15% gain.

标准普尔500指数在本周上涨了1.66％，纳斯达克略微落后1.15％。

Bitcoin dominance dipped slightly this week, falling by over 0.4% to 61.43%. This shift reflected traders' willingness to bid on altcoins once again.

本周比特币优势略有下降，下降了0.4％以上，至61.43％。这种转变反映了交易者再次竞标AltCoins的意愿。

Among the outperformers were DeFi tokens like LayerZero (ZRO), Frax Share (FXS), and Pendle (PENDLE). Even memecoins like Fartcoin (FARTCOIN) and SPX6900 (SPX) showed surprising strength. Other notable gainers included Plume Network (PLUME) and PancakeSwap (CAKE).

在贵族中，诸如layerzero（Zro），Frax共享（FXS）和Pendle（Pendle）之类的Defi令牌。即使是诸如Fartcoin（Fartcoin）和SPX6900（SPX）之类的成员也具有令人惊讶的强度。其他值得注意的获利者包括羽流网络（羽流）和煎饼瓦普（蛋糕）。

Why This Matters

为什么这很重要

The focus has once again shifted to interest rates and inflation. The FOMC's decision to leave rates unchanged, alongside expectations of two rate cuts worth 50 bps this year, was well-received.

重点再次转移到利率和通货膨胀上。 FOMC决定保持不变的决定，以及对今年价值50个基点的两项削减税率的期望，也是受欢迎的。

The Fed's slower pace of balance sheet reduction added fuel to the rally. Yet, market participants remain cautious, especially with tariffs taking effect on April 2nd something that markets seem to be ignoring for now. Jerome Powell's comments calling tariff-driven inflation "transitory" add another layer of uncertainty.

美联储的资产负债表减少速度较慢，为拉力赛增加了燃料。然而，市场参与者仍然谨慎，尤其是在4月2日生效的关税目前似乎忽略了。杰罗姆·鲍威尔（Jerome Powell）称关税驱动的通货膨胀为“暂时性”的评论增加了另一层不确定性。

All eyes are now on how the markets will react in the coming week. Will caution continue to dominate, or will we see risk-on sentiment return in full force?

现在，所有人都关注市场在未来一周的反应。谨慎会继续统治，还是我们会看到全力以赴的风险返回？