加密貨幣陷入了殘酷的自由跌倒中，這反映了比特幣和山寨幣的市場底層低迷。

Coinbase是美國最大的加密交易所，已從11月的每股350美元跌至190美元。這種下降使市值從860億美元增加到480億美元，這筆380億美元消失了。

Crypto stocks are caught in a brutal free fall, mirroring the market-wide slump in Bitcoin and altcoins.

加密貨幣陷入了殘酷的自由跌倒中，這反映了比特幣和山寨幣的市場底層低迷。

Coinbase (NASDAQ:COIN), the biggest crypto exchange in the U.S., has crashed from nearly $350 per share in November to $190. This decline has brought its market cap down from $86 billion to $48 billion-a $38 billion wipe out.

Coinbase（NASDAQ：COIN）是美國最大的加密交易所，已從11月的每股350美元跌至190美元。這種下降使其市場上限從860億美元下降到480億美元，即380億美元消失。

Among the biggest crypto losers is Michael Saylor’s (NYSE:MATA) Strategy (NASDAQ:STLY), which has seen billions of dollars in value shed. Its market cap slipped from a high of $106 billion last year to $79 billion today. The company, formerly known as MicroStrategy, has continued to accumulate Bitcoin and now holds 499,226 Bitcoins in its balance sheet.

最大的加密失敗者之一是邁克爾·塞勒（NYSE：MATA）戰略（納斯達克：統治），該戰略已經看到了數十億美元的價值棚。它的市值從去年的10060億美元下跌至今天的790億美元。該公司以前稱為MicroStrategy，一直在積累比特幣，現在在其資產負債表中擁有499,226個比特幣。

Chart of Bitcoin price over the past 12 months.

比特幣價格的圖表在過去12個月中。

Meanwhile, the price of Bitcoin (BTC) has dropped from over $109,300 in January to $85,000 at last check. Most altcoins have done worse. For example, Solana (CRYPTO:SOL) meme coins have seen over $18 billion in value slip as their collective market cap sank.

同時，比特幣（BTC）的價格從一月份的109,300美元下降到了上次支票的85,000美元。大多數山寨幣的情況都更糟。例如，索拉納（Crypto：Sol）Meme硬幣的價值打滑超過180億美元，因為他們的集體市值沉沒了。

Bitcoin, altcoin prices plummet

比特幣，替代幣價格暴跌

These crypto stocks have dropped because of the ongoing decline of Bitcoin and other altcoins. According to CoinMarketCap, the market cap of all cryptocurrencies has dropped from over $3.7 trillion in 2024 to $2.7 trillion today.

由於比特幣和其他山寨幣的持續下降，這些加密股票已經下降。根據CoinMarketCap的數據，所有加密貨幣的市值已從2024年的3.7萬億美元下降到今天的2.7萬億美元。

These crypto stocks and coins have dropped despite the Trump administration’s pledge to be highly supportive of the sector via initiatives like a Strategic Bitcoin Reserve.

儘管特朗普政府承諾通過戰略比特幣儲備等倡議高度支持該行業，但這些加密貨幣和硬幣仍下降了。

The Securities and Exchange Commission has also enacted some friendly policies and ended most of the lawsuits in the industry. It has ended lawsuits brought on companies like Coinbase, Ripple Labs, and Kraken.

美國證券交易委員會還制定了一些友好的政策，並結束了行業中的大多數訴訟。它結束了訴訟，涉及Coinbase，Ripple Labs和Kraken等公司。

Whether these crypto stocks will bounce back remains to be seen. Crypto analysts have a mixed outlook on the industry. Some observers expect Bitcoin’s price to recover, with Standard Chartered predicting it will hit $500,000 over time.

這些加密貨幣是否會反彈還有待觀察。加密分析師對該行業的看法不同。一些觀察家預計比特幣的價格將會恢復，標準包機預測它將隨著時間的推移達到500,000美元。

Ki Young Ju, CryptoQuant’s founder, estimates that the crypto bull run has ended, noting that all indicators were bearish.

CryptoQuant的創始人Ki Young Ju估計Crypto Bull Run已經結束，並指出所有指標都是看跌。