BTC： As of March 31, 2025, the current price of BTC is $81800; At the daily level, a "cross line" has closed, indicating that the market is in a stalemate between long and short positions, and trading volume remains low. On chain data further confirms the market's wait-and-see sentiment, with some players leaving due to the uncertainty of tariff policies, but the main funds have not made any significant moves yet. At the macro level, the upcoming tariff policy has become the focus of the market, with an expected increase of $100 billion in revenue from automobile tariffs and an additional $600 billion from other tariffs. However, the transfer of tariffs may push up inflation, trigger retaliatory tariffs, impact US exports and GDP growth, and further fuel risk aversion. Overall, Bitcoin is highly likely to continue its volatile downward trend in the short term.