在财政部流动性注入和关税减免的情况下，比特币的篮板为85,000美元

从上周的下降到74,500美元的弹跳后，比特币稳定在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.

比特币价格从上周下降到74,500美元后，比特币的价格高于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.

世界上最大的加密货币BTC/USD显示出每周的表现，比上周增长了约6.79％，达到了2025年1月以来的最高效果。许多宏观经济事件，包括特朗普政府和国库流动性注入的临时关税豁免，似乎是BTC最近的价格投资行动的基础。

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季度进行了首次比特币收购，将持有比特币的上市公司的总数增加到79。在新的参赛者中，香港建筑公司通过其子公司铅福利Ming Shing成为最大的首次购房者，成为了最大的首次购房者，总计是BTC，总计为833 BTC-500 BTC，在1月份进行了333 BTC，在2月的333 BTC中获得了额外的333 BTC。 Video Platform Rumble是加入公司比特币持有人队伍的其他公司，该公司在3月份披露了188 BTC的购买。

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，日本投资公司Metaplanet在4月14日透露，它以每枚硬币的平均价格额外收购了319个比特币。通过此次收购，Metaplanet的总持股量为4,525 BTC，价值3.832亿美元，将其置于全球十大公共企业比特币持有人之列。

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.

美国财政部的大量现金注入是比特币价格背后的主要宏观经济司机。自2月以来，国库（TGA）从财政部总帐户（TGA）借鉴了36万亿美元的债务上限后开始运营，以支持政府职能并自2月以来向金融市场注入超过5000亿美元的资金。

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.

众所周知，这种流动性爆炸与比特币的价格变动有很高的相关性，将美联储净流动性提高到6.3万亿美元。根据财务分析师林恩·奥尔登（Lyn Alden）的说法，比特币充当“全球流动性晴雨表”，在任何给定的12个月期间，与全球流动性的同步持续了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.

正如一些分析师所预测的那样，如果债务上限谈判持续到八月以外，则净流动性可能会进一步上升至多年高点6.6万亿美元，从而为比特币提供了强大的正风。

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.

比特币的价格行为表明可能的短期乐观情景。在4月9日至13日，BTC恢复了15％至86,100美元，每年低点的低点为74,500美元。根据交易资源材料指标，比特币仍然看涨其50周的移动平均水平，而该季度的开放时间高于82,500美元，这表明返回以前的每周低点的机会较小。

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.

技术观点以88,000美元和92,000美元的价格为$ 88,000和92,000美元，在当前趋势线与200天移动平均线之间表现出强烈的反对。如果比特币设法清除了这些障碍，那么近期的目标价为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.

一些专家预测，到7月至8月2025年，一些专家预测，一些专家预测，雄心勃勃的目标价为137,000美元。但是，为了获得这种观点，比特币需要打破并维持其200天的指数移动平均值（EMA），并克服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.

美国预算政策的最新变化也为比特币创造了一个有利的气候。 4月14日，财政收益率下降； 2年的收益率下降了8个基点，至3.89％，10年的收益率下降了8.2个基点，至4.40％。这些下降是关于对半导体，笔记本电脑和智能手机潜在的关税免税的新闻的一部分，该新闻被引入了，以使我们的企业有时间将制造业转移回该国。

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.

较低的国库收益率通常会降低固定收益资产的吸引力，这可能导致资本流出，并转向像比特币这样的风险资产。尽管如此，特朗普总统仍表示，这些排除是暂时的，由于这种情况存在一些不确定性，这可能会导致价格波动。

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.

由于比特币保持在85,000美元以上，市场参与者对其短期未来保持谨慎乐观。根据低期货保费和中性期权偏向指标，交易者在短期内似乎有限的搬迁信心有限，尽管机构采用率继续增加，而宏观经济因素似乎支持。