比特币（BTC）市场正在密切跟踪即将举行的政治活动

Bitfinex分析师重点介绍了唐纳德·特朗普总统的100天讲话是加密的潜在拐点。

President Donald Trump's 100-day address is closely being tracked by Bitcoin markets, especially amid a tightening on-chain supply and a setup that may favor a breakout, according to Bitfinex analysts.

Bitfinex分析师说，唐纳德·特朗普总统的100天讲话正在由比特币市场密切追踪，尤其是在紧缩的链上供应和可能有利于突破的设置中。

Investors are awaiting any signals of alignment between U.S. policy and Bitcoin's future role in the economy, particularly in terms of a strategic crypto reserve, deregulatory measures to encourage capital flows into U.S. digital asset platforms, or rhetoric positioning Bitcoin as a component of America's financial infrastructure.

投资者正在等待美国政策与比特币在经济中的未来作用之间的一致性信号，尤其是在战略加密储备储备方面，鼓励资本流入美国数字资产平台的放松措施，或将比特币定位为美国金融基础设施的组成部分。

Even absent direct policy changes, a supportive tone could serve to legitimize Bitcoin further among both institutional and retail traders, the analysts noted.

分析师指出，即使没有直接的政策变化，支持性语调也可以在机构和零售商人之间进一步使比特币合法化。

"The upcoming 100-day address from President Trump is garnering outsized attention within the crypto space," they wrote in a note on Wednesday.

他们在周三的一份报告中写道：“特朗普总统即将到来的100天讲话正在加密货币领域引起人们的关注。”

"Even without hard policy action, a tone that reinforces institutional legitimacy or economic nationalism through crypto could further embed Bitcoin into the macro-political narrative."

“即使没有艰难的政策行动，通过加密来增强制度合法性或经济民族主义的语气也可以将比特币进一步嵌入到宏观政治叙事中。”

This anticipation comes amid a tightening on-chain supply of Bitcoin, with exchange deposits now at multi-week lows, indicating less selling pressure and more self-custody behavior.

这一期望是在比特币的链链供应紧缩的情况下出现的，现在的交换矿床现在处于多周低点，表明销售压力较小和自我抑制行为更多。

While Bitfinex clarified that this metric shouldn't be viewed in isolation for making investment decisions, it does combine with recent macro volatility and the aftermath of a $7.2 billion options expiry to suggest a setup similar to past bullish breakouts.

尽管Bitfinex澄清说，不应孤立地观察该指标以制定投资决策，但它确实与最近的宏观波动率相结合，以及72亿美元期权到期的后果，以提出与过去的看涨障碍类似的设置。

The divergence between stable prices and decreasing exchange balances has historically been a prelude to upside moves, especially when accompanied by persistent demand from ETFs and institutions, the analysts added.

分析师补充说，稳定价格和降低的交换余额之间的差异一直是上升行动的前奏，尤其是在伴随ETF和机构需求持续需求时。