Coinbase（Coin）共享在年度第一季度（Q1）的大幅下降

据彭博社称，Coinbase的股票自本季度初以来已下跌了30％以上，标志着其最差的表现

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报道，美国最大的加密货币交易所Coinbase（Coin）的股票在第一季度（第1季度）的股票由于对美国经济的担忧及其对数字资产的影响而面临大幅下降。

Coinbase And Others Face Increased Volatility

Coinbase和其他人面临的波动性增加

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.

据彭博社称，自本季度初以来，Coinbase的股票已下跌了30％以上，这标志着自2022年下半年FTX Exchange崩溃以来的表现最差。

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).

这种下降凸显了更广泛的趋势，影响了几乎所有主要的加密货币股票，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.

加密货币市场本身正在遭受动荡，比特币（BTC）的历史高高和以太坊（ETH）的价值下降了超过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.

这些转变是在唐纳德·特朗普总统升级“全球贸易战”的情况下发生的，这激起了人们对该国经济健康的担忧。经济数据加剧了这些问题，将标准普尔500指数（GSPC）推向了自2022年中以来最糟糕的季度。

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分析师Owen Lau指出，加密货币社区中的许多人都认识到，当前的市场状况并非主要由基本因素驱动。取而代之的是，劳强调，宏观经济问题（例如关税和潜在的贸易战）极大地影响了投资者的情绪。

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.

据报道，经济衰退的迫在眉睫的威胁增加了不安，导致高风险的加密货币股票比比特币本身更波动。

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解释说，Coinbase等公司的投资具有额外的风险，包括破产的潜力，据称使它们特别容易受到迅速抛售的影响。

Cryptocurrency Market Struggles To Rebound

加密货币市场努力反弹

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.

加密货币市场的当前状态与特朗普当选后年初盛行的乐观情绪形成了鲜明的对比。在就职典礼当天，比特币达到了创纪录的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.

本月早些时候，特朗普宣布了该市场领先的加密货币的战略储备，但并未分配纳税人资金来扩大它，比特币价格下跌。截至目前，比特币的交易约为83,000美元，仍高于选举前的水平，但远离其顶峰。

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.

尽管大选后，与加密相关的各种公司的股票飙升，但Coinbase和Crypto Miners此后已经放弃了这些收益。值得注意的是，自11月5日以来，迈克尔·赛勒（Michael Saylor）的战略（MSTR）是该行业中少数在积极领土上保持积极领域的股票之一。

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.

尽管经济低迷，但加密货币行业仍在华盛顿增强影响力，并正在更接近与传统金融系统的融合。但是，这种不断增长的力量尚未转化为市场反弹。

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的加密货币分析师Connor Loewen对当前的投资者情绪表示怀疑，他说：“我们几个月前我们看到的是，我不知道它会比这更疯狂。我认为我们将不得不寻找新的催化剂。”