Coinex Research的2025年4月报告：尽管美国关税紧张局势，比特币（BTC）的价格飙升14％

在4月初，在美国关税紧张局势升级的情况下，比特币跌至74,500美元。 4月9日的戏剧性政策转变，特朗普宣布停顿90天

Hong Kong, April 09, 2025 (GLOBE NEWSWIRE via TechNews) – U.S. tariff tensions pushed Bitcoin toward $74,500 in early April. A dramatic policy shift on April 9, with Trump announcing a 90-day pause on most reciprocal tariffs and a 125% rate on Chinese imports, brought a surprising turn.

香港，2025年4月9日（通过Techws的Globe Newswire） - 美国关税紧张局势将比特币推向了4月初的74,500美元。 4月9日，特朗普宣布大多数互惠关税的90天停顿，中国进口税率为125％，这使人感到惊讶，这使人感到惊讶。

This move, made amid escalating trade friction, had a swift impact. After days of losses, Bitcoin began a recovery from $74,500, surging 7% within 24 hours to reach $82,350 by April 10.

这一举动在不断升级的贸易摩擦中产生了迅速影响。经过几天的损失，比特币从74,500美元开始恢复，在24小时内飙升7％，到4月10日达到82,350美元。

The news also sparked a broader rally in major indices like the S&P 500, which rose over 2% on April 9, contrasting with Bitcoin's 14% gains for the month as it approached $96,000.

这一消息还引发了主要指数等主要指数的广泛集会，标准普尔500指数在4月9日上涨了2％，与比特币的14％收益相反，因为它接近了96,000美元。

Relative to the S&P 500's 10% gains since March 1, Bitcoin's performance is noteworthy, especially considering the broader stock market downturn in late 2024 due to U.S. macroeconomic concerns.

相对于自3月1日以来，标准普尔500指数的10％增长，比特币的表现值得注意，尤其是考虑到2024年底由于美国宏观经济问题而股票市场的低迷。

Chart: TradingView; Data as of 28 April 2025

图表：TradingView；截至2025年4月28日的数据

Technical Trends: BTC Range and Dominance at Multi-Year HighsBitcoin prices have been consolidating after a period of strong rally, influenced by U.S. tariff policy which dropped to $74,500. Following Trump pausing most reciprocal tariffs for 90 days, Bitcoin surged 7% within 24 hours, reaching $82,350 by April 10, and later reclaimed $90,000, finally hit $96,000.

技术趋势：在一段强劲的集会之后，BTC范围和多年高价币价格的优势已经巩固，受美国关税政策的影响，下降到74,500美元。在特朗普暂停了90天的大多数互惠关税之后，比特币在24小时内飙升了7％，到4月10日到达82,350美元，后来又回收了90,000美元，最终达到了96,000美元。

Bitcoin broke through key resistance levels, trading back into the previous range of $90,000–$108,000. Without fresh catalysts, sideways consolidation may follow. Meanwhile, Bitcoin Dominance reached a four-year high of 64%, hinting at sustained BTC leadership unless altcoins regain momentum. However, failure to sustain above 64% could trigger a retracement to 60%, potentially creating opportunities for altcoin outperformance.Gold's Revival: Traditional vs. Tokenized Access

比特币打破了关键阻力水平，又回到了先前的$ 90,000- $ 108,000。如果没有新鲜的催化剂，则可能随后进行侧向整合。同时，比特币的优势达到了64％的四年高点，除非替补币恢复势头，否则BTC领导层的持续领导才能。但是，无法维持超过64％的人可能会引发60％的回答，这可能会为Altcoin胜过胜过。

Gold reached a new all-time high above $3,400/oz on Thursday, April 24, driven partly by geopolitical uncertainty and a weaker dollar. Web2 instruments like GLD and IAU remain dominant, but tokenized gold, like XAUT and PAXG, in Web3 is gaining traction. However, blockchain-based gold products, with a combined market cap of $2 billion, still represent a tiny fraction of the $190 billion traditional gold ETF market. Both spaces reflect rising safe-haven demand, with gold potentially eyeing $4,000 by year-end.

4月24日（星期四），Gold在3,400盎司/盎司的历史最高售价上达到了新的高度，部分是由于地缘政治不确定性和较弱的美元驱动。诸如GLD和IAU之类的Web2仪器仍然占主导地位，但是Web3中的Xaut和Paxg等标记黄金正在受到关注。但是，基于区块链的黄金产品的总市值为20亿美元，仍然代表了1900亿美元传统黄金ETF市场的一小部分。这两个空间都反映了避风港需求的上升，黄金可能会按年底出售4,000美元。

Bitcoin Staking Innovations: Yield Without Compromise

比特币的创新：不妥协的产量

In Q1 2025, the Bitcoin (BTC) staking and restaking ecosystem underwent a noticeable transformation. As interest in BTC yield grew, so did the variety of protocols catering to this demand.

在第1季度2025年，比特币（BTC）的桩和重新生态系统经历了明显的转变。随着对BTC收益率的兴趣的增长，各种方案也满足了这一需求。

Projects like Babylon, PumpBTC, and Lorenzo Protocol are devising creative solutions for liquid staking and restaking derivatives, allowing BTC holders to earn passive income without relinquishing custody or converting to altcoins. These protocols are promising but carry risks related to smart contracts and centralization, which investors should carefully consider.Monad: A Rising Star Among Layer 1s

Babylon，PumpBTC和Lorenzo协议等项目正在为液体蒸发和重新生产衍生品设计创造性的解决方案，使BTC持有人能够赚取被动收入，而无需放弃监护权或转换为AltCoins。这些协议是有希望的，但具有与智能合约和集中化有关的风险，投资者应仔细考虑。

Just two months after its testnet launch in February, Monad, a high-performance Ethereum-compatible chain, has deployed 16.48 million contracts and registered 210 million wallets by April 25.

2月的测试网仅两个月后，Monad是一家高性能以太坊兼容的连锁店，已在4月25日之前部署了1648万份合同，并注册了2.1亿钱包。

Monad tackles scalability with parallel execution and pipelined processing, aiming for 10,000+ TPS and 1-second finality. Its EVM bytecode compatibility eases developer migration, already attracting over 100 early-stage projects in DeFi, NFTs, and infrastructure.

Monad通过并行执行和管道处理处理可扩展性，旨在实现10,000多个TP和1秒的终结性。它的EVM字节码兼容性可以减轻开发人员的迁移，已经吸引了100多个DEFI，NFT和基础架构的早期项目。

Backing from prominent crypto funds like Paradigm and Dragonfly Capital further bolsters investor confidence in Monad’s potential. From this angle, Monad is quickly gathering developer interest and a burgeoning community of over 200,000.

从范式和蜻蜓资本（Dragonfly Capital）等著名的加密基金的支持进一步加强了投资者对Monad潜力的信心。从这个角度来看，Monad正在迅速收集开发人员的兴趣和一个超过200,000的新兴社区。

For a deeper analysis, refer to our recently published article, “From Hype to Reality: Can Monad’s Testnet Success Translate into Mainnet Value?”

要进行更深入的分析，请参阅我们最近发表的文章“从炒作到现实：Monad的TestNet成功能否转化为主网值？”

Stablecoin Flows: Signs of Accumulation, Not Acceleration

Stablecoin流：积累的迹象，而不是加速度

April saw $64.8 billion in stablecoin inflows to cryptocurrency exchanges, a slight decrease from March but still indicating sustained institutional interest in the space.

4月的稳定币流向加密货币交流的648亿美元，比3月份略有下降，但仍表明该领域持续持续的机构利益。

However, the slower pace of inflows may indicate a consolidation period for capital, which is accumulating in preparation for the next market push. Analysts believe this capital is waiting for clearer macroeconomic signals before flowing into riskier assets.

但是，流入速度较慢可能表明资本的合并期，这是为下一个市场推动做准备的积累。分析师认为，这项资本正在等待更清晰的宏观经济信号，然后才能流入风险更高的资产。

Looking Ahead: May’s Macro Watchlist

展望未来：五月的宏观监视列表