比特幣（BTC）突破到$ 110,000，但情緒正在推動反彈

詹姆斯·托萊達諾（James Toledano）表示，比特幣的突破達到110,000美元，但他警告說，加密貨幣資產的反彈目前是由情感所驅動的，而不是強大的基礎知識。

U.S. President Donald Trump’s retreat from his aggressive tariff rhetoric, coupled with the thaw in U.S.-China trade relations, place bitcoin’s $110,000 breakout within reach, asserts James Toledano, COO at Unity Wallet. Nevertheless, Toledano warns that these developments only provide “a temporary boost to risk assets, including crypto.”

美國總統唐納德·特朗普（Donald Trump）從他的積極關稅言論中撤退，再加上美中國貿易關係中的融化，Place Bitcoin在觸手可及的$ 110,000突破中。儘管如此，托萊達諾警告說，這些事態發展僅提供“包括加密在內的風險資產的暫時增強”。

U.S. President Donald Trump’s retreat from his aggressive tariff rhetoric, coupled with the thaw in U.S.-China trade relations, place bitcoin’s $110,000 breakout within reach, asserts James Toledano, COO at Unity Wallet. However, these developments only provide “a temporary boost to risk assets, including crypto,” he adds.

美國總統唐納德·特朗普（Donald Trump）從他的積極關稅言論中撤退，再加上美中國貿易關係中的融化，Place Bitcoin在觸手可及的$ 110,000突破中。但是，這些發展僅提供“包括加密在內的風險資產的暫時增強”。

Toledano argues that bitcoin’s recent rebound, which has seen the top crypto asset surpass the $100,000 mark for the first time since Feb. 4, is hollow because “it is based on sentiment and the political moves of a single man.” He prefers fundamentals to drive the market.

托萊達諾（Toledano）認為，自2月4日以來，比特幣最近的反彈已經超過了100,000美元，這是空心的，因為“這是基於情感和單身男人的政治舉動。”他更喜歡基本面推動市場。

The COO also believes that despite strong demand, as evidenced by bitcoin exchange-traded fund (ETF) inflows, the potential for gains remains constrained by macroeconomic uncertainties. He argues that, absent consistent institutional buying pressure and more definitive regulatory guidance, bitcoin will likely consolidate before attempting to set another new all-time high.

首席運營官還認為，儘管需求強勁，但比特幣交換基金（ETF）流入證明，收益的潛力仍然受到宏觀經濟不確定性的限制。他認為，由於沒有一致的機構購買壓力和更確定的監管指導，比特幣可能會在試圖設定另一個新的歷史高位之前合併。

After shaking global markets, including the key bond market, with the imposition of reciprocal tariffs, the Trump administration eventually backpedaled. This allowed key stock market indices to erase a large portion of losses incurred in the days following Liberation Day. Tariffs against China were, however, hiked to an effective 145%, prompting Beijing to retaliate with its own punitive taxes on U.S. imports.

在震撼了包括關鍵債券市場在內的全球市場並徵收互惠關稅之後，特朗普政府最終支持了。這允許關鍵股票市場指數消除解放日後幾天造成的大部分損失。然而，對中國的關稅已升至145％，促使北京對自己對美國進口的懲罰稅進行報復。

Growing concerns and warnings that the U.S.-China trade war would leave both countries worse off eventually forced the two nations to hold direct talks. As reported by Bitcoin.com News, the two countries ultimately agreed to slash tariffs by 115%, leaving the U.S. duty on Chinese imports at 30%.

越來越關注和警告說，美中國貿易戰爭將使兩國的情況變得更糟，最終迫使兩國進行直接談判。正如Bitcoin.com新聞報導的那樣，兩國最終同意將關稅削減115％，使美國對中國進口的職責為30％。

While the agreement reportedly returned both countries to positions they held before the trade war escalated, it was seemingly well received by investors, including crypto traders. Commenting on the impact of the U.S.-China tariff war on crypto, Toledano states:

據報導，該協議將兩國返回他們在貿易戰爭升級之前擔任的職位，但包括加密貨幣商人在內的投資者似乎受到了好評。托萊達諾指出，在評論美國 - 中國關稅戰爭對加密貨幣的影響：

The U.S.-China tariff changes have certainly had an impact on markets, and it is true that select digital assets have increasingly been seen as macro hedges. Their sensitivity to global instability remains significant. Recent patterns show crypto no longer operates in a vacuum; it reacts in tandem with traditional financial markets, especially during acute stress.

美國 - 中國關稅的變化肯定對市場產生了影響，確實，某些數字資產越來越被視為宏觀樹籬。它們對全球不穩定的敏感性仍然很重要。最近的模式表明，加密貨幣不再在真空中運行。它與傳統的金融市場有一致的反應，尤其是在急性壓力期間。

Toledano argues that, unlike equities, which are tethered to traditional economic cycles and government policies, cryptocurrency often demonstrates a more rapid rebound and attracts capital during prolonged crises. He attributes this to crypto’s decentralized nature and the fact that it is beyond the central banks’ control, making it an alternative store of value and medium of exchange during times of instability.

托萊達諾認為，與傳統經濟周期和政府政策束縛的股票不同，加密貨幣經常表現出更快的反彈，並在長期危機期間吸引了資本。他將其歸因於加密貨幣的分散性質，並且它超出了中央銀行的控制權，這使其成為不穩定時期的價值和交換媒介的替代存儲。

Thus, while further geopolitical or economic unrest will likely trigger short-term volatility across all asset classes, Toledano believes that crypto’s fundamental structural independence potentially enables it to outpace traditional assets.

因此，儘管進一步的地緣政治或經濟動盪可能會引發所有資產類別的短期波動，但托萊達諾認為，加密貨幣的基本結構獨立性可能使其能夠超過傳統資產。