特朗普的贸易战评论点燃市场集会，比特币反弹

通过交易量的全球第二大加密货币交易所Bybit已发布了其最新的每周加密衍生品分析报告

DUBAI, UAE, April 28, 2025 /PRNewswire/ -- Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has launched a new weekly crypto derivatives analysis report in partnership with Block Scholes. The report provides insights into the market trends and trader sentiment during the period, highlighting a shift in mood following upbeat remarks from US President Trump on trade negotiations with China, which coincided with a broad rally in both crypto and equity markets.

阿联酋迪拜，2025年4月28日 /美通社 / - 通过交易量通过交易量的世界第二大加密货币交易所Bybit，已与Block Scholes合作推出了新的每周一次的加密衍生物分析报告。该报告提供了对该时期市场趋势和交易者情绪的见解，强调了美国总统特朗普对与中国进行贸易谈判的乐观言论的转变，这与加密和股票市场的广泛集会相吻合。

Earlier last week, Bitcoin showed signs of decoupling from US equities. Following the announcement of a 145% tariff on Chinese goods and comments from Trump, BTC climbed by more than 7% from April 21, 2025, alongside broader risk assets. Short-tenor implied volatility rose, and put-call skew turned upward by 5%, indicating that traders had been positioning for further gains at the time.

上周早些时候，比特币显示出与美国股票脱钩的迹象。在宣布对中国商品和特朗普的评论征收145％的关税之后，BTC与2025年4月21日的风险资产相比，攀升了7％以上。短期暗示的波动率上升，plat-call偏斜上升了5％，这表明交易者当时一直在定位进一步的收益。

Perpetual open interest rises across tokens

永久性开放兴趣在跨令牌上增加

Perpetual futures open interest climbed significantly by 20% last week, particularly for ETH. Trading volumes also increased, with April 7, 2025 recording the highest daily volume for the month. The spike followed Trump’s comment: "Forget markets for a second, we have all the advantages."

上周，永久期货开放兴趣显着提高20％，尤其是对于ETH而言。交易量也有所增加，2025年4月7日记录了本月最高的每日销量。尖峰之后是特朗普的评论：“忘记市场一秒钟，我们拥有所有优势。”

BTC option open interest shows a mixed picture; put-call skew in short tenor sends positive signals

BTC选项开放兴趣显示了混合图片；卖话偏差很短，发出正信号

President Trump’s recent willingness to negotiate a trade deal with China’s President Xi triggered a relief rally across asset classes, including crypto. Bitcoin had already risen 7% since Apr 21, 2025 prior to Trump’s comments. Despite this rally, open interest in puts has outpaced calls, with options volume remaining relatively balanced.

特朗普总统最近愿意与中国总统习近平进行贸易协定的意愿引发了包括加密在内的资产类别的救济集会。自2025年4月21日以来，比特币在特朗普发表评论之前已经上涨了7％。尽管有这样的集会，但对Puts的开放兴趣已经超过了通话，并且期权量保持相对平衡。

It’s unclear if the demand for puts reflects a hedge against downside risks, or a bet against the upward movement. Meanwhile, perpetual funding rates are providing limited insight into sentiment. However, the recovery of the put-call skew at short tenors indicates that traders are seeking upside exposure to the rally — and are willing to pay for it.

目前尚不清楚对权利的需求是否反映了针对下行风险的对冲，还是对向上运动的下注。同时，永久筹资率提供了对情感的有限见解。但是，在短期内，回票偏差的回收表明，交易者正在寻求上涨的趋势，并愿意为此付出代价。

ETH outperforms BTC by 1% in the past week, signals rebound expectations

在过去一周中，ETH的表现优于BTC 1％，信号反弹期望

ETH led last week’s rally in spot markets — a rare occurrence in past relief rallies. Options data shows ETH calls nearly double puts in open interest, with calls also dominating volume. This suggests traders expect ETH to close its recent performance gap with BTC and competing chains like SUI and SOL. ETH’s term structure also inverted again, reflecting expectations of near-term price action.

ETH上周在现货市场上领导的集会 - 在过去的救济集会中很少发生。选项数据显示，ETH呼叫几乎是公开兴趣的两倍，呼叫也主导着数量。这表明Traders希望ETH能够缩小其最近与BTC和SUI和SOL等竞争连锁店的性能差距。 ETH的期限结构也再次倒转，反映了对近期价格行动的期望。

Access the Full Report

访问完整报告

For detailed insights, readers may download the full report.

有关详细信息，读者可以下载完整的报告。

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About Bybit

关于bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone.

Bybit是全球第二大加密货币交易所通过交易量，为全球超过6000万用户的社区提供服务。 Bybit成立于2018年，通过为每个人创建一个更简单，开放和平等的生态系统来重新定义分散世界的开放性。

With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

BYBIT合作伙伴非常重视Web3，具有领先的区块链协议，以提供强大的基础架构并推动链上创新。 Bybit以其安全的监护权，多样化的市场，直观的用户体验以及高级区块链工具而闻名，Bybit弥合了Tradfi和Defi之间的差距，增强了建筑商，创建者和爱好者的能力，以释放Web3的全部潜力。在bybit.com上发现分散财务的未来。

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