2025年的加密货币班有粗鲁的觉醒

在过去一周

A version of this story appeared in our The Roundup newsletter on February 28. Sign up here.

这个故事的一个版本出现在我们2月28日的《综述时事通讯》中。在此处注册。

Hi! Eric here,

你好！埃里克在这里，

The crypto class of 2025 had a rude awakening, as Bitcoin and other cryptocurrencies shed over 13% of its total market value — representing about $450 billion — over the past week.

由于比特币和其他加密货币在过去一周中，比特币和其他加密货币的总市场价值（约4500亿美元）的13％以上。

It’s now down to its lowest since November, as $1.2 trillion, or 25%, was wiped since its December record high.

自11月以来，它的最低水平为1.2万亿美元，即25％，自12月纪录以来就被抹去了。

Buoyed by Donald Trump’s promises to relax crypto laws, many who piled into digital assets this year were newbies.

唐纳德·特朗普（Donald Trump）承诺放松加密法律的承诺，许多今年堆入数字资产的人都是新手。

For instance, Google searches for “how to trade crypto” spiked in recent months, most traders buying the president’s memecoin were first-time Solana users, and more Americans now own crypto than in 2024.

例如，Google最近几个月搜索了“如何交易加密”，大多数购买总统纪念品的交易者是首次使用Solana用户，而现在美国人拥有的加密货币比2024年更多。

Top three cryptocurrencies — Bitcoin, Ethereum, and XRP — are down 19%, 23% and 25% over the same period.

在同一时期，排名前三的加密货币（比特币，以太坊和XRP）下跌了19％，23％和25％。

Despite the brutal beating inflicted upon the industry, people remain bullish.

尽管该行业遭受了残酷的殴打，但人们仍然看涨。

Yes, Galaxy Research’s top dog says Bitcoin will likely fall down to $74,000. Yes, the market has lost $1 trillion in market value since its December high.

是的，Galaxy Research的顶级狗说，比特币可能会降至74,000美元。是的，自12月高点以来，市场已经损失了1万亿美元的市场价值。

But, analysts seem to take it as fait accompli that the industry will bounce back. Traders have poured into bets that Bitcoin will reach $120,000 by the end of March.

但是，分析师似乎将行业反弹的既定成就。贸易商已经倾注，到3月底，比特币将达到120,000美元。

Bernstein and Standard Chartered both see a $200,000 price on the horizon.

伯恩斯坦（Bernstein）和标准（Standard）租用了两者，都看到了200,000美元的价格。

The argument they make is simply that none of the fundamentals have gone away.

他们提出的论点简直就是基本面没有消失。

Trump is still in the White House, lawmakers keep pushing crypto bills through the guts of Capitol Hill, altcoin ETFs look increasingly possible to be greenlit, fintechs keep creeping into the industry, and institutions remain excited about digital assets.

特朗普仍在白宫，立法者不断通过国会大厦山的胆量推动加密账单，altcoin ETF看起来越来越有可能成为绿色，金融科技队一直蔓延到该行业，并且机构仍然对数字资产感到兴奋。

Bitwise’s Matt Hougan even suggested that the crash will be good for the industry by ending the “memecoin carnival” once and for all.

Bitwise的Matt Hougan甚至建议通过一劳永逸地结束“ Memecoin Carnival”，这对行业有利。

That’s something many industry reps have wished for after the catastrophic launch and crash of several high-profile shitcoins over the past few months.

这是许多行业代表在过去几个月中灾难性发射和几个备受瞩目的狗屎币的崩溃之后所希望的。

The industry seems to have taken Monty Python’s advice to “Always look on the bright side of life” to heart.

该行业似乎已经接受了Monty Python的建议，以“始终在生活的光明方面”。

But should one remind them that the comedy troupe sang it during a crucifixion scene?

但是，应该提醒他们喜剧剧团在钉十字架的场景中唱歌吗？

Robinhood stock to double despite crypto slump, says Morgan Stanley

摩根士丹利说

Coming out of this week’s chaos, Morgan Stanley expects investors to see the fintech as a safe haven of sorts, or at least safer than some of its crypto rivals.

摩根士丹利（Morgan Stanley）从本周的混乱中脱颖而出，希望投资者将金融科技视为一种避风港，或者至少比其某些加密竞争对手更安全。

Billionaire Justin Sun wins reprieve as SEC pauses fraud case

亿万富翁贾斯汀·孙（Justin Sun）赢得了缓刑

The Tron founder appears poised to settle a long-running SEC case, Liam Kelly reports. Justin Sun invested $75 million in World Liberty Financial. The development is the latest in a string of setbacks for the regulator in its pursuit of crypto-related fraud cases this year.

利亚姆·凯利（Liam Kelly）报道，TRON的创始人似乎准备解决一个长期运行的SEC案件。贾斯汀·孙向世界自由金融投资了7500万美元。该开发项目是该监管机构在追求加密相关欺诈案件的一系列挫折中的最新发展。

Three US Bitcoin reserve bills fail despite Trump’s pledges — ‘Smacks of speculation’

尽管特朗普的承诺，但三项美国比特币储备账单失败了 - “猜测”

Three bills that would have seen the US introduce state-run Bitcoin reserves have failed since Donald Trump took office, despite the president’s promises to relax crypto laws.

自从唐纳德·特朗普（Donald Trump）上任以来，总统承诺放宽加密法律以来，本来可以看到美国引入国营比特币储量的三项法案失败了。

Post of the Week

本周帖子

Bitwise founder Arthur Hayes delivers on the gallows humour after the crypto market bloodbath.

在加密市场血腥浴缸之后，Bitwise的创始人亚瑟·海斯（Arthur Hayes）在绞刑架幽默中提供了绞刑架。

Fam, if $BTC hits $70k which fast food joint are we applying for?

FAM，如果$ btc达到70k美元，我们要申请哪个快餐店？