<p>与加密货币相关公司的股票在周五下跌，因为投资者在美国数字资产立法进展引发的初步反弹后撤回了资金，市场对加密货币价格和更广泛的宏观经济风险的担忧重新浮现。</p>
<p>Coinbase Global (COIN) 的股票在前一交易日上涨超过 5% 后下跌了 7.6%，而 Robinhood Markets (HOOD) 在周四上涨超过 5% 后大约下跌了 3.8%。</p>
<p>Strategy（之前称为 Microstrategy）MSTR 的股票也在周五下跌了大约 6%，此前一天大幅上涨。</p>
<p>分析师表示，周五的下跌可能反映了在周四反弹后的获利了结，加上投资者对中东地缘政治紧张局势和加密货币价格持续波动的谨慎态度。</p>
<p>比特币在过去 24 小时内回落近 3%，至约 79,000 美元，而以太坊则下跌约 3%，接近 2,200 美元。</p>
<p>与加密货币相关的股票在周四大幅上涨，此前《数字资产市场清晰法案》的关键部分在参议院银行委员会获得通过，使该立法更接近全体参议院投票。</p>
<p><strong>监管乐观情绪在初步反弹后消退</strong></p>
<p>周四与加密货币相关的股票上涨主要是由于对华盛顿即将批准更清晰的数字资产监管的乐观情绪。</p>
<p>《清晰法案》在立法者就与稳定币相关的收益支付达成妥协后获得推进。</p>
<p>该协议禁止对闲置稳定币存款支付收益，同时允许与客户使用美元挂钩的数字货币相关的 “奖励”。</p>
<p>分析师指出，民主党参议员 Ruben Gallego 和 Angela Alsobrooks 的支持被视为特别重要，因为该立法需要两党支持才能克服阻挠议事。</p>
<p>尽管如此，围绕立法最终形式的不确定性仍在周五对市场情绪造成压力。</p>
<p>“仍有几个悬而未决的问题，” Benchmark Equity Research 的分析师 Mark Palmer 在一份报告中写道。</p>
<p>Palmer 特别提到，关于限制特朗普总统及其家族从与加密货币相关的企业中获利的提案仍存在持续分歧。</p>
<p>尽管存在这些担忧，Palmer 对该行业的长期前景仍持乐观态度。</p>
<p>“华盛顿现在在通过可能重塑美国数字资产生态系统轨迹的立法方面实质上更近了，” 他说。</p>
<p><strong>Coinbase 受到盈利担忧和比特币疲软的压力</strong></p>
<p>Coinbase 的股票也受到公司近期财务表现重新受到审查的影响。</p>
<p>这家加密货币交易所运营商在第一季度报告了约 3.94 亿美元的净亏损，而利润率从 22.1% 下降至 12.7%。</p>
<p>该季度的收入总计约为 14.1 亿美元，低于分析师预期的约 14.8 亿美元。</p>
<p>管理层还指出，总体加密市场市值和交易量环比下降超过 20%，使公司对比特币价格和交易活动的波动高度敏感。</p>
<p>一些分析师还警告称，比特币的技术交易模式可能预示着加密资产和相关股票的更广泛整合阶段。</p>
<p><strong>Robinhood 数据显示更广泛的平台增长</strong></p>
<p>尽管 Robinhood 报告了更强劲的四月运营指标，但其股票仍与更广泛的加密货币行业一起下跌。</p>
<p>这家经纪公司表示，股票日均交易量同比增长 23%，而期权交易活动增长了 7%。</p>
<p>总平台资产同比增长 49%，达到约 3454 亿美元，得益于四月约 60 亿美元的净存款。</p>
<p>Robinhood 的资金客户基础同比增长 7%，达到 2760 万用户。</p>
<p>尽管与前一个月和去年同期相比，加密货币日均交易量有所下降，但包括 Bitstamp 活动在内的总加密名义交易量同比增长了 38%。</p>

GLXY

GBTC

RIOT

<p>与加密货币相关的公司股票，包括 Coinbase、Robinhood 和 Strategy，周五下跌，因为投资者在初步反弹后选择撤退。Coinbase 下跌 7.6%，Robinhood 下跌 3.8%，Strategy 下跌 6%。下跌的原因归因于获利了结以及对地缘政治紧张局势和加密货币价格波动的担忧。比特币和以太坊也出现了下跌。尽管近期立法进展带来了监管乐观情绪，但不确定性依然存在，影响了市场情绪</p>

<p>Shares of cryptocurrency-linked companies fell Friday as investors pulled back from the sector after an initial rally sparked by progress on US digital asset legislation faded amid renewed concerns about crypto prices and broader macroeconomic risks.</p>
<div class="lb-trans"><p>与加密货币相关公司的股票在周五下跌，因为投资者在美国数字资产立法进展引发的初步反弹后撤回了资金，市场对加密货币价格和更广泛的宏观经济风险的担忧重新浮现。</p>
</div><p>Shares of Coinbase Global (COIN) dropped 7.6% after climbing more than 5% in the previous session, while Robinhood Markets (HOOD) fell roughly 3.8% following a gain of more than 5% on Thursday.</p>
<div class="lb-trans"><p>Coinbase Global (COIN) 的股票在前一交易日上涨超过 5% 后下跌了 7.6%，而 Robinhood Markets (HOOD) 在周四上涨超过 5% 后大约下跌了 3.8%。</p>
</div><p>Shares of Strategy (previously known as Microstrategy) MSTR, which often trade as a leveraged proxy for Bitcoin, also fell roughly 6% Friday after rallying sharply a day earlier.</p>
<div class="lb-trans"><p>Strategy（之前称为 Microstrategy）MSTR 的股票也在周五下跌了大约 6%，此前一天大幅上涨。</p>
</div><p>Analysts said Friday’s declines likely reflected profit-taking after Thursday’s rally, combined with investor caution surrounding geopolitical tensions in the Middle East and continued volatility in cryptocurrency prices.</p>
<div class="lb-trans"><p>分析师表示，周五的下跌可能反映了在周四反弹后的获利了结，加上投资者对中东地缘政治紧张局势和加密货币价格持续波动的谨慎态度。</p>
</div><p>Bitcoin retreated nearly 3% over the past 24 hours to around $79,000, while Ethereum fell approximately 3% to near $2,200.</p>
<div class="lb-trans"><p>比特币在过去 24 小时内回落近 3%，至约 79,000 美元，而以太坊则下跌约 3%，接近 2,200 美元。</p>
</div><p>Crypto-related equities had surged Thursday after a key portion of the Digital Asset Market Clarity Act advanced through the Senate Banking Committee, moving the legislation closer to a full Senate vote.</p>
<div class="lb-trans"><p>与加密货币相关的股票在周四大幅上涨，此前《数字资产市场清晰法案》的关键部分在参议院银行委员会获得通过，使该立法更接近全体参议院投票。</p>
</div><p><strong>Regulatory optimism fades after initial rally</strong></p>
<div class="lb-trans"><p><strong>监管乐观情绪在初步反弹后消退</strong></p>
</div><p>Thursday’s gains across crypto-related stocks were largely driven by optimism that Washington was moving closer to approving clearer digital asset regulations.</p>
<div class="lb-trans"><p>周四与加密货币相关的股票上涨主要是由于对华盛顿即将批准更清晰的数字资产监管的乐观情绪。</p>
</div><p>The Clarity Act advanced after lawmakers reached a compromise surrounding stablecoin-related yield payments.</p>
<div class="lb-trans"><p>《清晰法案》在立法者就与稳定币相关的收益支付达成妥协后获得推进。</p>
</div><p>The agreement prohibits yield on idle stablecoin deposits while allowing “rewards” tied to customer usage of dollar-pegged digital coins.</p>
<div class="lb-trans"><p>该协议禁止对闲置稳定币存款支付收益，同时允许与客户使用美元挂钩的数字货币相关的 “奖励”。</p>
</div><p>Analysts noted that support from Democratic senators Ruben Gallego and Angela Alsobrooks was viewed as especially important because the legislation will require bipartisan backing to overcome a filibuster.</p>
<div class="lb-trans"><p>分析师指出，民主党参议员 Ruben Gallego 和 Angela Alsobrooks 的支持被视为特别重要，因为该立法需要两党支持才能克服阻挠议事。</p>
</div><p>Still, uncertainty surrounding the final form of the legislation continued weighing on sentiment Friday.</p>
<div class="lb-trans"><p>尽管如此，围绕立法最终形式的不确定性仍在周五对市场情绪造成压力。</p>
</div><p>“Several outstanding issues remain unresolved,” Benchmark Equity Research analyst Mark Palmer wrote in a note.</p>
<div class="lb-trans"><p>“仍有几个悬而未决的问题，” Benchmark Equity Research 的分析师 Mark Palmer 在一份报告中写道。</p>
</div><p>Palmer pointed specifically to ongoing disagreements over proposals that would restrict President Donald Trump and his family from profiting from cryptocurrency-related businesses.</p>
<div class="lb-trans"><p>Palmer 特别提到，关于限制特朗普总统及其家族从与加密货币相关的企业中获利的提案仍存在持续分歧。</p>
</div><p>Despite those concerns, Palmer maintained an optimistic longer-term outlook for the sector.</p>
<div class="lb-trans"><p>尽管存在这些担忧，Palmer 对该行业的长期前景仍持乐观态度。</p>
</div><p>“Washington is now materially closer to passing legislation that could reshape the trajectory of the American digital asset ecosystem for years to come,” he said.</p>
<div class="lb-trans"><p>“华盛顿现在在通过可能重塑美国数字资产生态系统轨迹的立法方面实质上更近了，” 他说。</p>
</div><p><strong>Coinbase pressured by earnings concerns and Bitcoin weakness</strong></p>
<div class="lb-trans"><p><strong>Coinbase 受到盈利担忧和比特币疲软的压力</strong></p>
</div><p>Coinbase shares were also weighed down by renewed scrutiny surrounding the company’s recent financial performance.</p>
<div class="lb-trans"><p>Coinbase 的股票也受到公司近期财务表现重新受到审查的影响。</p>
</div><p>The crypto exchange operator reported a net loss of approximately $394 million during the first quarter, while profit margins declined from 22.1% to 12.7%.</p>
<div class="lb-trans"><p>这家加密货币交易所运营商在第一季度报告了约 3.94 亿美元的净亏损，而利润率从 22.1% 下降至 12.7%。</p>
</div><p>Revenue for the quarter totaled about $1.41 billion, below analyst expectations of roughly $1.48 billion.</p>
<div class="lb-trans"><p>该季度的收入总计约为 14.1 亿美元，低于分析师预期的约 14.8 亿美元。</p>
</div><p>Management also noted that total crypto market capitalization and trading volumes had declined more than 20% quarter over quarter, leaving the company highly sensitive to movements in Bitcoin prices and trading activity.</p>
<div class="lb-trans"><p>管理层还指出，总体加密市场市值和交易量环比下降超过 20%，使公司对比特币价格和交易活动的波动高度敏感。</p>
</div><p>Some analysts additionally warned that technical trading patterns in Bitcoin could signal a broader consolidation phase for crypto assets and related stocks.</p>
<div class="lb-trans"><p>一些分析师还警告称，比特币的技术交易模式可能预示着加密资产和相关股票的更广泛整合阶段。</p>
</div><p><strong>Robinhood data shows broader platform growth</strong></p>
<div class="lb-trans"><p><strong>Robinhood 数据显示更广泛的平台增长</strong></p>
</div><p>Robinhood shares declined alongside the broader crypto sector despite reporting stronger April operating metrics.</p>
<div class="lb-trans"><p>尽管 Robinhood 报告了更强劲的四月运营指标，但其股票仍与更广泛的加密货币行业一起下跌。</p>
</div><p>The brokerage company said equity daily average trades rose 23% year over year, while options trading activity increased 7%.</p>
<div class="lb-trans"><p>这家经纪公司表示，股票日均交易量同比增长 23%，而期权交易活动增长了 7%。</p>
</div><p>Total platform assets climbed 49% from a year earlier to approximately $345.4 billion, supported by roughly $6 billion in net deposits during April.</p>
<div class="lb-trans"><p>总平台资产同比增长 49%，达到约 3454 亿美元，得益于四月约 60 亿美元的净存款。</p>
</div><p>Robinhood’s funded customer base also grew 7% year over year to 27.6 million users.</p>
<div class="lb-trans"><p>Robinhood 的资金客户基础同比增长 7%，达到 2760 万用户。</p>
</div><p>While crypto daily average trades declined compared with both the prior month and year-earlier period, total crypto notional trading volumes increased 38% year over year when including activity from Bitstamp.</p>
<div class="lb-trans"><p>尽管与前一个月和去年同期相比，加密货币日均交易量有所下降，但包括 Bitstamp 活动在内的总加密名义交易量同比增长了 38%。</p>
</div>

Why crypto stocks Coinbase, Robinhood, Strategy are sliding today

- 加密货币相关公司的股票在周五下跌。  
- 投资者因对宏观经济风险的担忧而撤离市场。  
- 比特币价格回落至约 $79,000，整体市场情绪谨慎。

为什么加密股票 Coinbase、Robinhood 和 Strategy 今天出现下滑