#美国加征关税

The recent increase in tariffs by the United States has had various impacts on the cryptocurrency market. Here is a detailed analysis:

⸻

📉 Short-term Impact: Market Volatility and Rise in Risk Aversion

1. Price Volatility: In April 2025, after the Trump administration announced tariffs on countries such as China, market risk aversion increased, leading to a temporary decline in Bitcoin prices. For example, on April 3rd, Bitcoin prices dropped by 5.4%, and Ethereum experienced a similar decline.

2. Adjustment of Risk Assets: Following the announcement of the tariff news, investors shifted from high-risk assets (such as cryptocurrencies) to safe-haven assets (such as the US dollar and US Treasury bonds), putting pressure on the cryptocurrency market in the short term.

⸻

🔧 Mid-term Impact: Rising Mining Costs and Supply Chain Challenges

1. Increased Mining Equipment Costs: Most cryptocurrency mining machines come from China. The imposition of tariffs on Chinese imports has raised the prices of mining machines, increasing operational costs for miners, which may lead some miners to exit the market, affecting Bitcoin network hashrate and security.

2. Supply Chain Disruption: Tariff policies may lead to disruptions in the global supply chain, impacting the supply of cryptocurrency-related hardware and further increasing market uncertainty.

⸻

🪙 Long-term Impact: Enhanced Appeal of Cryptocurrencies as Safe-Haven Assets

1. Hedging Against Inflation and Currency Depreciation: Tariffs may trigger inflationary pressures, weakening the purchasing power of fiat currencies and increasing the appeal of cryptocurrencies like Bitcoin as safe-haven assets.

2. De-dollarization Trend: Some countries may seek to reduce their reliance on the US dollar in response to US trade policies, opting to use stablecoins (such as USDT, USDC) for cross-border transactions, promoting the international use of cryptocurrencies.

⸻

📊 Investor Recommendations

• In the short term: Due to increased market volatility, investors are advised to operate cautiously, avoid excessive leverage, and pay attention to changes in market sentiment.

• In the medium to long term: Considering the hedging characteristics of cryptocurrencies under inflation and monetary policy uncertainty, holding mainstream cryptocurrencies like Bitcoin for the long term may be an effective asset allocation strategy.