上週，比特幣的歷史最高點高於111,000美元

上週，比特幣的歷史最高高於111,000美元，重新點燃了OG代幣將在投機較高的記錄中樹立新的記錄。

Bitcoin hit a new all-time high above $111,000 last week, setting the stage for further speculative bets on the OG token to set new records. However, on Friday, U.S. President Donald Trump again shook global markets with his tariff rhetoric, this time targeting the European Union.

上週，比特幣在111,000美元的$ 111,000中達到了新的歷史高處，為OG令牌的進一步投機賭注奠定了基礎，以創造新的記錄。但是，在星期五，美國總統唐納德·特朗普（Donald Trump）再次以他的關稅言論搖擺了全球市場，這次是針對歐盟的。

As a result, Bitcoin plunged along with risk assets, approaching the $107,000 mark, defying expectations of a general upswing.

結果，比特幣與風險資產一起跌落，接近107,000美元，無視一般升級的期望。

A reversal came through for cryptos after Trump announced a delay in 50% tariffs on EU imports to June 9 from June 1 earlier. The president said on Sunday that the decision to delay EU tariffs came after a phone call with European Commission President Ursula von der Leyen.

在特朗普宣布延誤歐盟進口的50％關稅到6月9日的6月1日之前，逆轉了加密貨幣。總統週日表示，延遲歐盟關稅的決定是在與歐盟委員會主席烏蘇拉·馮·德·萊恩（Ursula Von der Leyen）打來電話之後的。

The prospect that Trump may soften his hardline approach to trade with the EU following his extension of the deadline for massive tariff measures caused gold's haven status to decline.

在延長了大規模關稅措施的截止日期之後，特朗普可能會軟化他與歐盟進行貿易的艱難方法的前景導致戈爾德的避風港地位下降。

The yellow metal's price fell sharply after almost a 5% rally last week.

在上週將近5％的集會後，黃色金屬的價格急劇下降。

On the other hand, Bitcoin was last changing hands closer to the $110,000 mark, rising close to 2%.

另一方面，比特幣的最後一隻手接近110,000美元，上升近2％。

While new tariff threats show trade uncertainty is here to stay, Trump's volatility is clear in global financial markets, and his tactic of pressuring countries for a trade deal has also been effective in recent weeks.

儘管新的關稅威脅表明貿易不確定性將留在這裡，但特朗普在全球金融市場中的波動很明顯，他向國家施加貿易協議的策略在最近幾周也是有效的。

China was a big example; now it's the European Union's turn.

中國就是一個很大的例子。現在輪到歐盟了。

However, what is surprising is crypto moves. Cryptos are the least likely assets to be impacted by tariffs—at least directly, unlike stocks. While bets are strongly tilted to the upside in the long run, the short-term ride is rather unsettling for traders.

但是，令人驚訝的是加密動作。加密是最小可能受到關稅影響的資產，至少與股票不同。儘管從長遠來看，賭注傾向於上升，但短期旅程對於交易者來說卻令人不安。

The so-called correlation of cryptos with stocks is widening and thinning at different points during Trump's economic broadsides ride on risk-off bets. Similarly, cryptos have also rallied on safe-haven bets in line with record-setting gold this year.

在特朗普的經濟寬闊的賭注上，加密貨幣與股票的所謂相關性正在擴大和變薄。同樣，加密貨幣也與今年創紀錄的黃金一致地集結了避風港的賭注。

The trend indicates an initial shock and a sudden sell-off in cryptos, which mirrors the significant decline in the dollar, stocks, and other major risk assets. After the initial reaction, the digital asset market seems to pick up in line with gold and rise even as the sell-off in other risk assets continues.

趨勢表明，加密貨幣的最初震驚和突然拋售，這反映了美元，股票和其他主要風險資產的顯著下降。最初的反應後，即使其他風險資產的拋售仍在繼續，數字資產市場似乎與黃金和上升相符。

Simultaneously, it is highly likely that cryptos will rise in tandem with risk assets as soon as macroeconomic conditions and Trump's rhetoric support the markets.

同時，一旦宏觀經濟狀況和特朗普的言論支持市場，加密貨幣很有可能會與風險資產同行。

Trading since April shows that pattern, with Bitcoin moves reflecting those bets. Not too long ago, when the S&P 500 hit a bear market, the OG token faced resistance to breaching the $100,000 mark.

自4月以來的交易表明了這種模式，比特幣動作反映了這些賭注。不久前，當標準普爾500指數襲擊熊市時，OG代幣面臨著違反100,000美元的抵抗。

However, an $8.6 trillion rally in the Wall Street benchmark from April lows pushed cryptos back up to new life highs.

但是，從四月低點開始的華爾街基準中的8.6萬億美元集會將加密貨幣推向了新的生活高點。

Since Friday, when markets took a hit, the $100,000 mark has acted as a support level for the crypto. Monday trading suggests a break higher to a new record this week, with global stocks trading in the green.

自從星期五市場受到打擊以來，這筆100,000美元的大關一直是加密貨幣的支持水平。週一的交易表明，本週的新記錄較高，全球股票的交易處於綠色狀態。

Institutions driving prices

機構推動價格

This year, institutional investors have been the major drivers of crypto prices, particularly Bitcoin.

今年，機構投資者一直是加密價格，尤其是比特幣的主要驅動力。

Demand from institutions in the US continues to show strong resilience. Open interest in Bitcoin futures available through CME Group has seen a 25% recovery from the year-to-date low observed in April.

美國機構的需求繼續表現出強大的彈性。通過CME Group提供的對比特幣期貨的開放興趣與4月份觀察到的低點相比獲得了25％的回收率。

In May, US spot Bitcoin ETFs saw inflows exceeding $5 billion, indicating continued interest from investors looking for regulated avenues to gain exposure to cryptocurrency.

5月，美國現貨比特幣ETF的流入超過50億美元，這表明尋求受管制途徑的投資者持續利息，以獲得加密貨幣的風險。

Options trading on BlackRock's IBIT has seen significant growth, with notional open interest currently reaching $21 billion, according to Bloomberg data.

據彭博社數據稱，貝萊德IBIT上的期權交易已有顯著增長，目前的名義開放利息目前達到210億美元。

Overall, the mood in crypto markets suggests an upside, with knee-jerk reactions likely to cause some volatility.

總體而言，加密貨幣市場的情緒暗示了一個上行空間，膝蓋反應可能會引起一些波動。

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