在財政部流動性注入和關稅減免的情況下，比特幣的籃板為85,000美元

從上週的下降到74,500美元的彈跳後，比特幣穩定在85,000美元的水平上。

Bitcoin price is holding above the $85,000 level after bouncing back from last week’s decline to $74,500.

比特幣價格從上週下降到74,500美元後，比特幣的價格高於85,000美元。

The biggest cryptocurrency in the world BTC/USD shows weekly performance with about 6.79% increase over the previous week, hitting the highest since January 2025. A number of macroeconomic events, including temporary tariff exemptions announced by the Trump administration and Treasury liquidity injections, appear to be underpinning BTC’s recent price action.

世界上最大的加密貨幣BTC/USD顯示出每週的表現，比上週增長了約6.79％，達到了2025年1月以來的最高效果。許多宏觀經濟事件，包括特朗普政府和國庫流動性注入的臨時關稅豁免，似乎是BTC最近的價格投資行動的基礎。

Top 12 companies made their first Bitcoin acquisitions during Q1, increasing the total count of public companies holding Bitcoin to 79. Among the new entrants, Hong Kong construction company Ming Shing, via its subsidiary Lead Benefit, became the biggest first-time buyer with a total of 833 BTC—500 BTC in January followed by an additional 333 BTC in February. Among other companies joining the ranks of corporate Bitcoin holders was video platform Rumble, which disclosed a purchase of 188 BTC in March.

前12家公司在第1季度進行了首次比特幣收購，將持有比特幣的上市公司的總數增加到79。在新的參賽者中，香港建築公司通過其子公司鉛福利Ming Shing成為最大的首次購房者，成為了最大的首次購房者，總計是BTC，總計為833 BTC-500 BTC，在1月份進行了333 BTC，在2月的333 BTC中獲得了額外的333 BTC。 Video Platform Rumble是加入公司比特幣持有人隊伍的其他公司，該公司在3月份披露了188 BTC的購買。

notably, Japanese investment company Metaplanet revealed on April 14 that it had acquired an additional 319 Bitcoin at an average price of about $82,770 per coin. With this acquisition, Metaplanet’s total holdings amount to 4,525 BTC, valued at $383.2 million, placing it among the top ten largest public corporate Bitcoin holders globally.

值得注意的是，日本投資公司Metaplanet在4月14日透露，它以每枚硬幣的平均價格額外收購了319個比特幣。通過此次收購，Metaplanet的總持股量為4,525 BTC，價值3.832億美元，將其置於全球十大公共企業比特幣持有人之列。

The massive cash injection from the US Treasury is a major macroeconomic driver behind Bitcoin’s price. Commencing operations after reaching the $36 trillion debt ceiling on January 2, 2025, the Treasury has been drawing from the Treasury General Account (TGA) to support government functions and injecting over $500 billion into financial markets since February.

美國財政部的大量現金注入是比特幣價格背後的主要宏觀經濟司機。自2月以來，國庫（TGA）從財政部總帳戶（TGA）借鑒了36萬億美元的債務上限後開始運營，以支持政府職能並自2月以來向金融市場注入超過5000億美元的資金。

This liquidity explosion, which is known to have a high correlation with Bitcoin’s price movements, has increased the net Federal Reserve liquidity to $6.3 trillion. Acting as a “Global Liquidity Barometer,” Bitcoin has moved in sync with global liquidity 83% of the time over any given 12-month period, according to financial analyst Lyn Alden.

眾所周知，這種流動性爆炸與比特幣的價格變動有很高的相關性，將美聯儲淨流動性提高到6.3萬億美元。根據財務分析師林恩·奧爾登（Lyn Alden）的說法，比特幣充當“全球流動性晴雨表”，在任何給定的12個月期間，與全球流動性的同步持續了83％。

Should the debt ceiling negotiations persist beyond August, as some analysts predict, the net liquidity could rise further to a multi-year high of $6.6 trillion, thus providing a strong positive tailwind for Bitcoin.

正如一些分析師所預測的那樣，如果債務上限談判持續到八月以外，則淨流動性可能會進一步上升至多年高點6.6萬億美元，從而為比特幣提供了強大的正風。

The price behavior of Bitcoin is indicating a possible short-term optimistic scenario. BTC recovered 15% to $86,100 during April 9–13, having reached yearly lows at $74,500. According to trading resource material indicators, Bitcoin remained bullish above its 50-weekly moving average and the quarter’s open at above $82,500, suggesting less chance of returning to previous weekly lows.

比特幣的價格行為表明可能的短期樂觀情景。在4月9日至13日，BTC恢復了15％至86,100美元，每年低點的低點為74,500美元。根據交易資源材料指標，比特幣仍然看漲其50週的移動平均水平，而該季度的開放時間高於82,500美元，這表明返回以前的每週低點的機會較小。

With notable liquidity barriers at $88,000 and $92,000, the technical perspective shows strong opposition between the current trend line and the 200-day moving average. If Bitcoin manages to clear these hurdles, a near-term price target of $90,000 appears plausible.

技術觀點以88,000美元和92,000美元的價格為$ 88,000和92,000美元，在當前趨勢線與200天移動平均線之間表現出強烈的反對。如果比特幣設法清除了這些障礙，那麼近期的目標價為90,000美元，似乎是合理的。

Pointing to a positive pennant pattern on the daily chart, some experts predict a more ambitious price target of $137,000 by July-August 2025. However, for this view to be supported, Bitcoin needs to break and maintain itself above its 200-day exponential moving average (EMA) and overcome the resistance from the 50- and 100-day EMAs.

一些專家預測，到7月至8月2025年，一些專家預測，一些專家預測，雄心勃勃的目標價為137,000美元。但是，為了獲得這種觀點，比特幣需要打破並維持其200天的指數移動平均值（EMA），並克服50天和100天EMA的阻力。

Recent changes in U.S. budgetary policy are also creating a favorable climate for Bitcoin. On April 14, Treasury yields decreased; the 2-year yield went down by 8 basis points to 3.89%, and the 10-year yield decreased by 8.2 basis points to 4.40%. These declines came as part of news regarding potential tariff exemptions on semiconductors, laptops, and smartphones—introduced to allow U.S. businesses time to shift manufacturing back to the country.

美國預算政策的最新變化也為比特幣創造了一個有利的氣候。 4月14日，財政收益率下降； 2年的收益率下降了8個基點，至3.89％，10年的收益率下降了8.2個基點，至4.40％。這些下降是關於對半導體，筆記本電腦和智能手機潛在的關稅免稅的新聞的一部分，該新聞被引入了，以使我們的企業有時間將製造業轉移回該國。

Lower treasury yields usually decrease the attractiveness of fixed-income assets, potentially leading to capital outflows and a shift towards risk-on assets like Bitcoin. Still, President Trump stated that these exclusions are temporary, and there is some uncertainty arising from this situation, which might cause further price volatility.

較低的國庫收益率通常會降低固定收益資產的吸引力，這可能導致資本流出，並轉向像比特幣這樣的風險資產。儘管如此，特朗普總統仍表示，這些排除是暫時的，由於這種情況存在一些不確定性，這可能會導致價格波動。

As Bitcoin stays above $85,000, market players remain cautiously optimistic about its short-term future. According to low futures premiums and neutral options skew indicators, traders appear to have limited confidence in a move beyond $90,000 in the short term, even though institutional adoption continues to increase and macroeconomic factors seem supportive.

由於比特幣保持在85,000美元以上，市場參與者對其短期未來保持謹慎樂觀。根據低期貨保費和中性期權偏向指標，交易者在短期內似乎有限的搬遷信心有限，儘管機構採用率繼續增加，而宏觀經濟因素似乎支持。