比特币（BTC）突破到$ 110,000，但情绪正在推动反弹

詹姆斯·托莱达诺（James Toledano）表示，比特币的突破达到110,000美元，但他警告说，加密货币资产的反弹目前是由情感所驱动的，而不是强大的基础知识。

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.”

美国总统唐纳德·特朗普（Donald Trump）从他的积极关税言论中撤退，再加上美中国贸易关系中的融化，Place Bitcoin在触手可及的$ 110,000突破中。尽管如此，托莱达诺警告说，这些事态发展仅提供“包括加密在内的风险资产的暂时增强”。

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.

美国总统唐纳德·特朗普（Donald Trump）从他的积极关税言论中撤退，再加上美中国贸易关系中的融化，Place Bitcoin在触手可及的$ 110,000突破中。但是，这些发展仅提供“包括加密在内的风险资产的暂时增强”。

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.

托莱达诺（Toledano）认为，自2月4日以来，比特币最近的反弹已经超过了100,000美元，这是空心的，因为“这是基于情感和单身男人的政治举动。”他更喜欢基本面推动市场。

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.

首席运营官还认为，尽管需求强劲，但比特币交换基金（ETF）流入证明，收益的潜力仍然受到宏观经济不确定性的限制。他认为，由于没有一致的机构购买压力和更确定的监管指导，比特币可能会在试图设定另一个新的历史高位之前合并。

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.

在震撼了包括关键债券市场在内的全球市场并征收互惠关税之后，特朗普政府最终支持了。这允许关键股票市场指数消除解放日后几天造成的大部分损失。然而，对中国的关税已升至145％，促使北京对自己对美国进口的惩罚税进行报复。

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%.

越来越关注和警告说，美中国贸易战争将使两国的情况变得更糟，最终迫使两国进行直接谈判。正如Bitcoin.com新闻报道的那样，两国最终同意将关税削减115％，使美国对中国进口的职责为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:

据报道，该协议将两国返回他们在贸易战争升级之前担任的职位，但包括加密货币商人在内的投资者似乎受到了好评。托莱达诺指出，在评论美国 - 中国关税战争对加密货币的影响：

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.

美国 - 中国关税的变化肯定对市场产生了影响，确实，某些数字资产越来越被视为宏观树篱。它们对全球不稳定的敏感性仍然很重要。最近的模式表明，加密货币不再在真空中运行。它与传统的金融市场有一致的反应，尤其是在急性压力期间。

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.

托莱达诺认为，与传统经济周期和政府政策束缚的股票不同，加密货币经常表现出更快的反弹，并在长期危机期间吸引了资本。他将其归因于加密货币的分散性质，并且它超出了中央银行的控制权，这使其成为不稳定时期的价值和交换媒介的替代存储。

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，尽管进一步的地缘政治或经济动荡可能会引发所有资产类别的短期波动，但托莱达诺认为，加密货币的基本结构独立性可能使其能够超过传统资产。