作為比特幣（BTC）掙扎，黃金超過$ 3000

最近的市場動盪可能使黃金成為“價值存儲”的吹牛權利，而“數字黃金”掙扎

Gold futures for April delivery on the Commodity Exchange, a division of the New York Mercantile Exchange, soared to a record high of over $3,000 an ounce on Monday. The precious metal is consolidating just below the $3,000 handle, trading at around $2,996.88 an ounce, up 15% year-to-date. In contrast, bitcoin is down 12% this year and is hovering around the $80,000 mark.

紐約商品交易所分部的商品交易所的四月交付黃金期貨在周一飆升至創紀錄的3,000美元以上。貴金屬的合併位於$ 3,000的手柄以下，每盎司約2,996.88美元，年至今增長15％。相比之下，今年比特幣下降了12％，徘徊在80,000美元的大約左右。

This divergence highlights gold’s role as the ultimate safe-haven asset in the current economic environment.

這種差異凸顯了黃金在當前經濟環境中的最終避風港資產的作用。

As reported by Eric Balchunas, a senior Bloomberg ETF analyst, U.S. spot bitcoin ETFs have seen inflows for only three days since mid-February. This has reduced total net inflows from approximately $40 billion to around $35 billion.

正如彭博ETF高級ETF分析師Eric Balchunas報導的，自2月中旬以來，美國現場比特幣ETF僅出現了三天的流入。這使總淨流入從約400億美元減少到約350億美元。

The S&P 500 has entered correction territory, falling over 10% and struggling to rise above its 200-day moving average. This downturn can be attributed to several factors, including the threat of further tariffs from former President Trump and the stalled ceasefire negotiations between President Putin and Ukraine, which are increasing global uncertainty.

標準普爾500指數已進入更正領域，下降了10％，並努力上升超過其200天移動平均線。這項衰退可以歸因於幾個因素，包括特朗普前總統的進一步關稅以及普京總統與烏克蘭之間停滯的停火談判的威脅，這些談判正在增加全球不確定性。

Head of Research at Bitwise in Europe Andre Dragosch attributes gold’s record highs and the U.S. equity sell-off to rising short- and medium-term inflation expectations, combined with decreasing consumer confidence.

歐洲位於Bitwise的研究負責人Andre Dragosch將Gold的記錄高點和美國股票拋售歸因於短期和中期通貨膨脹期望的上升，並加上消費者的信心下降。

“The recent rally in gold to new all-time highs is likely being driven by both increasing inflation expectations and a broader flight to safety,” Dragosch explains. “In fact, both short- and medium-term inflation expectations in the University of Michigan consumer survey have risen to multi-decade highs. U.S. consumers are becoming increasingly concerned about inflation, which is being fueled by the Trump administration’s new tariff policies.”

Dragosch解釋說：“最近在新歷史高潮的黃金集會上可能是由於通貨膨脹期望的增加和更廣泛的安全性而驅動的。” “實際上，密歇根大學消費者調查的短期和中期通貨膨脹期望都升至多年的高點。美國消費者越來越關注通貨膨脹，這是由特朗普政府的新關稅政策推動的。”

He further adds, “Meanwhile, U.S. equities have been selling off due to the mounting economic uncertainty brought on by these trade policies and the increasing recession risks amid a slowdown in the labor market. Both of these factors have significantly impacted and buoyed the price of gold.”

他進一步補充說：“與此同時，由於這些貿易政策帶來的經濟不確定性的越來越大，並且由於勞動力市場放緩而遭受的衰退風險增加，美國股票一直在銷售。這兩個因素都顯著影響並促進了黃金的價格。”

What to WatchToken EventsConferencesToken Talk

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By Oliver KnightDerivatives Positioning

由奧利弗騎士定位

Market Movements:Bitcoin Stats:Technical Analysis

市場運動：比特幣統計：技術分析

Crypto Equities

加密股票

ETF Flows

ETF流

Spot BTC ETFs:Spot ETH ETFs

斑點BTC ETF：斑點ETH ETF

Source: Farside InvestorsOvernight Flows

資料來源：Farside Investorsovernight流動

Chart of the DayWhile You Were SleepingIn the Ether

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