#特朗普暂停关税

After Trump announced a 90-day suspension of "reciprocal tariffs" on multiple countries or regions, cryptocurrencies such as Bitcoin collectively surged.

As of the time of publication by Interface News, Bitcoin has risen over 5%, Ethereum has risen over 7%, and Dogecoin has risen over 6%.

At the same time, short sellers suffered heavy losses. Data shows that in the past 24 hours, nearly 130,000 cryptocurrency positions were liquidated, with a total liquidation amount of $464 million.

Bernstein Research pointed out that despite concerns about an economic recession and uncertainties in U.S. tariff policies causing volatility in the stock market, Bitcoin's performance has been "impressive." From the day after the U.S. announced its comprehensive tariff plan (last Thursday) to this Monday, Bitcoin fell by about 7%. During the same period, major stock indices fell even more, with the Dow Jones Industrial Average and the S&P 500 both dropping by about 10%, and the Nasdaq Composite Index falling by 11%.

Gautam Chhugani stated in a report on Tuesday that Bitcoin's relatively strong performance recently is attributed to new institutional demand, specifically Bitcoin exchange-traded funds and corporate Bitcoin reserves like MicroStrategy. He pointed out that most of the Bitcoin sell-offs are from short-term retail traders, which explains the resilience of Bitcoin's price. Historically, Bitcoin has seen larger declines, primarily due to mass panic selling by retail investors. The transition to institutional ownership has clearly helped, with ETFs currently accounting for about 5% of the total supply, and another approximately 5% held by corporations.

Chhugani pointed out that despite Bitcoin's 15% decline this year, the inflow of funds into Bitcoin ETFs remains positive—approximately $770 million has flowed in year-to-date, while $911 million has flowed out in the past 30 days. He also mentioned that corporate holdings of Bitcoin have also driven demand, with capital durations exceeding five years.

James Butterfill believes that the price fluctuation range for Bitcoin in 2025 could be between $80,000 and $150,000. He also points out that from a long-term perspective, Bitcoin has the potential to reach a price of $250,000, but this goal will not be achieved by 2025.

Alex Thorn expects Bitcoin to break $150,000 in the first half of this year and reach $185,000 in the fourth quarter, with Bitcoin's market value also reaching 20% of gold.

He also stated that the adoption by institutions, enterprises, and countries will push Bitcoin to new heights by 2025. Since its inception, Bitcoin has appreciated faster than all other asset classes, especially the S&P 500 and gold, and this trend will continue into 2025. Bitcoin will also reach 20% of gold's market value.

Geoffrey Kendrick stated in a recent report that Bitcoin is expected to reach $200,000 by the end of 2025.

He expects that this year, institutional capital flows will continue to maintain or exceed the rate of inflow into Bitcoin in 2024, and that MicroStrategy's Bitcoin purchases should "reach or exceed the purchase volume of 2024."