Coinbase（Coin）共享在年度第一季度（Q1）的大幅下降

據彭博社稱，Coinbase的股票自本季度初以來已下跌了30％以上，標誌著其最差的表現

Shares of the largest US crypto exchange, Coinbase (COIN), have faced significant declines during the first quarter (Q1) due to escalating concerns about the US economy and their impact on digital assets, Benzinga reports.

Benzinga報導，美國最大的加密貨幣交易所Coinbase（Coin）的股票在第一季度（第1季度）的股票由於對美國經濟的擔憂及其對數字資產的影響而面臨大幅下降。

Coinbase And Others Face Increased Volatility

Coinbase和其他人面臨的波動性增加

According to Bloomberg, Coinbase’s stock has dropped more than 30% since the beginning of the quarter, marking its worst performance since the collapse of the FTX exchange in late 2022.

據彭博社稱，自本季度初以來，Coinbase的股票已下跌了30％以上，這標誌著自2022年下半年FTX Exchange崩潰以來的表現最差。

This decline highlights a broader trend affecting nearly all major crypto-linked stocks, including companies like Galaxy Digital Holdings (GLXY.TO), Riot Platforms (RIOT), and Core Scientific (CORZ).

這種下降凸顯了更廣泛的趨勢，影響了幾乎所有主要的加密貨幣股票，包括Galaxy Digital Holdings（Glxy.TO），Riot Platforms（Riot）（Riot）和Core Scientific（Corz）等公司。

The cryptocurrency market itself is experiencing turmoil, with Bitcoin (BTC) falling over 20% from its all-time high and Ethereum (ETH) plummeting more than 45% in value.

加密貨幣市場本身正在遭受動盪，比特幣（BTC）的歷史高高和以太坊（ETH）的價值下降了超過45％。

These shifts come amid President Donald Trump’s escalation of a “global trade war,” which has stirred fears about the health of the country’s economy. Economic data has exacerbated these concerns, pushing the S&P 500 Index (GSPC) toward its worst quarter since mid-2022.

這些轉變是在唐納德·特朗普總統升級“全球貿易戰”的情況下發生的，這激起了人們對該國經濟健康的擔憂。經濟數據加劇了這些問題，將標準普爾500指數（GSPC）推向了自2022年中以來最糟糕的季度。

Oppenheimer analyst Owen Lau noted that many within the cryptocurrency community recognize that the current market conditions are not primarily driven by fundamental factors. Instead, Lau emphasized that macroeconomic issues—such as tariffs and the potential trade war—are influencing investor sentiment significantly.

Oppenheimer分析師Owen Lau指出，加密貨幣社區中的許多人都認識到，當前的市場狀況並非主要由基本因素驅動。取而代之的是，勞強調，宏觀經濟問題（例如關稅和潛在的貿易戰）極大地影響了投資者的情緒。

The looming threat of a recession has reportedly added to the unease, causing higher-risk crypto-linked stocks to be even more volatile than Bitcoin itself.

據報導，經濟衰退的迫在眉睫的威脅增加了不安，導致高風險的加密貨幣股票比比特幣本身更波動。

Lau explains that investments in companies like Coinbase carry additional risks, including the potential for bankruptcy, allegedly making them particularly susceptible to swift sell-offs.

Lau解釋說，Coinbase等公司的投資具有額外的風險，包括破產的潛力，據稱使它們特別容易受到迅速拋售的影響。

Cryptocurrency Market Struggles To Rebound

加密貨幣市場努力反彈

The current state of the cryptocurrency market is a stark contrast to the optimism that prevailed at the start of the year, following Trump’s election. Bitcoin reached a record high of over $109,000 on Inauguration Day.

加密貨幣市場的當前狀態與特朗普當選後年初盛行的樂觀情緒形成了鮮明的對比。在就職典禮當天，比特幣達到了創紀錄的109,000美元。

Earlier this month, Bitcoin prices fell after Trump announced a strategic reserve for the market’s leading crypto, but did not allocate taxpayer funds to expand it. As of now, Bitcoin trades around $83,000, still above pre-election levels but far from its peak.

本月早些時候，特朗普宣布了該市場領先的加密貨幣的戰略儲備，但並未分配納稅人資金來擴大它，比特幣價格下跌。截至目前，比特幣的交易約為83,000美元，仍高於選舉前的水平，但遠離其頂峰。

While shares of various crypto-related companies surged following the election, Coinbase and crypto miners have since relinquished those gains. Notably, Michael Saylor’s Strategy (MSTR) is among the few stocks in the sector that has managed to remain in positive territory since November 5.

儘管大選後，與加密相關的各種公司的股票飆升，但Coinbase和Crypto Miners此後已經放棄了這些收益。值得注意的是，自11月5日以來，邁克爾·賽勒（Michael Saylor）的戰略（MSTR）是該行業中少數一直保持積極領域的股票之一。

Despite the downturn, the cryptocurrency industry continues to gain influence in Washington and is moving closer to integration with traditional financial systems. However, this growing power has yet to translate into a market rebound.

儘管經濟低迷，但加密貨幣行業仍在華盛頓增強影響力，並正在更接近與傳統金融系統的融合。但是，這種不斷增長的力量尚未轉化為市場反彈。

Connor Loewen, a cryptocurrency analyst at 3iQ, expressed skepticism about the current state of investor sentiment, stating, “What we saw a couple of months ago, I don’t know how much crazier it can get than that. I think we’re going to have to be looking for new catalysts.”

3IQ的加密貨幣分析師Connor Loewen對當前的投資者情緒表示懷疑，他說：“我們幾個月前我們看到的是，我不知道它會比這更瘋狂。我認為我們將不得不尋找新的催化劑。”