China's Tariff Retaliation Impacts Cryptocurrency Markets

中国的关税报复影响加密货币市场

Over the past 24 hours, major cryptocurrencies experienced a surge of up to 20%, before pulling back. This followed a buy-the-dip strategy after Monday's $2.2 billion loss, but gains were erased upon China's announcement of retaliatory tariffs on the U.S.

在过去的24小时内，主要加密货币经历了高达20％的激增，然后退回。这是在周一22亿美元亏损之后进行的浸入策略之后，但在中国宣布对美国的报复性关税之后，收益被删除。

During Asian morning hours, the rally subsided as the deadline for the U.S. to impose additional tariffs on China passed without resolution.

在亚洲早上的时间里，这次集会平息了，因为美国对中国征收额外关税的截止日期没有解决。

Several cryptocurrencies witnessed gains, including XRP, dogecoin (DOGE), Solana's SOL, and Cardano's ADA, all up around 3%. Bitcoin (BTC) and ether (ETH) gained approximately 4%.

几项加密货币目睹了包括XRP，Dogecoin（Doge），Solana's Sol和Cardano的Ada的收益，均增长了3％。比特币（BTC）和Ether（ETH）获得了约4％。

However, Ben El-Baz, Managing Director of HashKey Global, cautions that the U.S.-China tariff conflict could dampen risk appetite and curb the positive sentiment that has fueled the cryptocurrency market's upswing over the past year. He adds that this damage could be mitigated if the U.S. enacts crypto-friendly policies.

但是，Hashkey Global的董事总经理Ben El-Baz警告说，美中关税冲突可能会抑制风险的胃口，并遏制积极的情绪，这加剧了加密货币市场在过去一年中的上升。他补充说，如果美国制定了对加密友好的政策，则可能会减轻这种损害。

Traders remain divided on the long-term implications of China's retaliatory measures, with markets influenced by the potential for reversal or extended correction if further actions are taken by Trump's administration.

贸易商在中国的报复措施的长期影响下仍然存在分歧，如果特朗普的政府采取了进一步的诉讼，市场受到逆转或扩展纠正的影响。

According to Min Jung, Research Analyst at Prestro Research, "Despite increased recognition of Bitcoin as digital gold, it still largely trades like a risk asset." This makes it vulnerable to the pressure caused by China's tariffs, similar to other global risk assets like equities.

Prestro Research的研究分析师Min Jung表示：“尽管对比特币作为数字黄金的认识越来越高，但它仍然在很大程度上像风险资产一样进行交易。”这使其容易受到中国关税造成的压力，类似于其他全球风险资产等股票。

Jung adds that while today's initial reaction may have been exaggerated, heightened volatility is expected to continue as markets react to further developments. "The crucial question is whether this move is primarily a negotiation tactic that could eventually be reversed or signals the start of a prolonged trade conflict," she says.

Jung补充说，尽管今天的最初反应可能被夸大了，但随着市场对进一步发展的反应，预计波动率会持续增长。她说：“关键的问题是，这一举动是否主要是一种谈判策略，最终可以逆转或发出长期贸易冲突的开始。”

President Trump's earlier decision to impose tariffs on imports from Canada, Mexico, and China caused a sharp drop in bitcoin and equity markets. This shifted investors' focus from Trump's pro-crypto stance to the immediate economic consequences.

特朗普总统早些时候决定对加拿大，墨西哥和中国进口的关税征收关税，使比特币和股票市场急剧下降。这将投资者的重点从特朗普的亲克赖特托立场转移到了直接的经济后果。

Monday's liquidation event presented a "buy-the-dip" opportunity, with investors seeking protection against economic uncertainty and currency volatility through dollar-backed stablecoins.

周一的清算活动带来了“浸入式”机会，投资者通过以美元支持的稳定稳定性寻求保护经济不确定性和货币波动。

Nonetheless, China's retaliatory tariffs could spark a broader trade war and intensify volatility across the cryptocurrency market in the coming days.

尽管如此，中国的报复性关税可能会引发更广泛的贸易战，并在未来几天内加剧加密货币市场的波动。