<p>美國比特幣（ABTC）的股票在 12 月 2 日的交易首小時內暴跌近 50%，從之前的收盤價 3.58 美元跌至最低 1.80 美元。</p>
<p>儘管 ABTC 最終以 2.19 美元收盤，跌幅為 38.83%，但在 12 月 3 日的盤後交易中略微反彈，漲幅為 10.96%。</p>
<h2><strong>美國比特幣崩盤——但為什麼？</strong></h2>
<p>這一戲劇性的崩盤並非由於市場傳聞，而是由於股票鎖定期的到期，釋放了大量之前受限的股票進入市場。</p>
<p>這些鎖定協議是在公司與 Gryphon Digital Mining 合併後公開上市時的標準做法，暫時阻止內部人士和合並前的私募股東出售其股份。</p>
<p>然而，一旦這一限制解除，便釋放了大量之前受限的股票進入市場。</p>
<p>可用股票的激增導致了股票的劇烈下跌，首小時交易中跌幅近 50%。</p>
<h2><strong>埃裏克·特朗普為拋售辯護</strong></h2>
<p>埃裏克·特朗普在 X 上確認了這一技術解釋，表示由於解鎖合併前私募股東的股份，拋售是預期之中的。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/Eric-Trump.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/Eric-Trump.webp"/></p>
<p>來源：埃裏克·特朗普/X</p>
<p>關鍵是，他重申了自己對長期投資的承諾，表示沒有計劃出售個人持股，但短期供應衝擊是壓倒性的。</p>
<p>市場反應的嚴重程度與美國比特幣強勁的基本財務和運營健康狀況形成鮮明對比。</p>
<h2><strong>特朗普支持的公司的比特幣持有情況及更多</strong></h2>
<p>該公司在 10 月報告了令人印象深刻的第三季度業績。收入達到 6420 萬美元，較去年同期的 1160 萬美元大幅增長。此外，公司在淨收入方面實現了積極的扭轉，盈利 350 萬美元。</p>
<p>除了挖礦，該公司還積極建立其財庫。截至 11 月中旬，持有約 4090 個比特幣，符合管理層增加對比特幣 [BTC] 直接敞口的目標，同時擴大生產。</p>
<p>但拋售也反映了該股票不穩定的歷史以及加密股市的整體疲軟。</p>
<p>自納斯達克上市以來，美國比特幣一直高度波動。事實上，在 9 月初經過 1.7 億美元的投資後，其股價飆升至 9.31 美元，隨後進入穩定下滑。</p>
<p>即使在鎖定期到期之前，該股票也在失去動能，最新的下跌使其股價比峯值低近 76.5%。</p>
<h2><strong>特朗普支持的美國比特幣也曾經歷過激增</strong></h2>
<p>這發生在美國比特幣最近的激增之後，受到 Dominari Holdings 大規模投資和其通過合併進入公開市場的推動，顯示出特朗普家族在加密生態系統中積極擴展的腳步。</p>
<p>除了在 ABTC 的股份外，特朗普家族現在還控制着挖礦、穩定幣、迷因幣、代幣發行，甚至通過 World Liberty Financial [WLFI] 和相關企業申請加密 ETF 的接觸點。</p>
<hr/>
<h2>最後思考</h2>
<ul>
<li><em>儘管收入增長強勁，盈利能力上升，挖礦能力擴大，ABTC 仍無法承受供應衝擊。</em></li>
<li><em>Dominari 的投資和 Gryphon 的合併為 ABTC 提供了動力，但也使其面臨公開市場交易的壓力。</em></li>
</ul>

ABTC

<p>美國比特幣（ABTC）由 Eric 和 Donald Trump Jr.共同創立，由於解禁期的到期，導致大量股票釋放，其股價暴跌近 50%。Eric Trump 為此次拋售辯護，稱其是由於這一技術因素所致。儘管公司財務表現強勁，包括顯著的收入增長和比特幣持有量，ABTC 的股價仍然波動，反映出更廣泛的加密市場疲軟。該公司一直在擴大其加密生態系統的影響力，但公眾市場的壓力仍在影響其股價表現</p>

<p>The stock of American Bitcoin (ABTC), the mining firm co-founded by Eric and Donald Trump Jr., plummeted nearly 50% in the first hour of trading on the 2nd of December, hitting a low of $1.80 from its prior close of $3.58.</p>
<div class="lb-trans"><p>美國比特幣（ABTC）的股票在 12 月 2 日的交易首小時內暴跌近 50%，從之前的收盤價 3.58 美元跌至最低 1.80 美元。</p>
</div><p>ABTC ultimately closed the day down 38.83% at $2.19, though it rebounded slightly – up 10.96% – in after-hours trading on 3rd December.</p>
<div class="lb-trans"><p>儘管 ABTC 最終以 2.19 美元收盤，跌幅為 38.83%，但在 12 月 3 日的盤後交易中略微反彈，漲幅為 10.96%。</p>
</div><h2><strong>American Bitcoin crashes – but why?</strong></h2>
<div class="lb-trans"><h2><strong>美國比特幣崩盤——但為什麼？</strong></h2>
</div><p>This dramatic crash was triggered not by market rumors but by the expiration of a share lockup period, which released a massive supply of previously restricted stock onto the market.</p>
<div class="lb-trans"><p>這一戲劇性的崩盤並非由於市場傳聞，而是由於股票鎖定期的到期，釋放了大量之前受限的股票進入市場。</p>
</div><p>These lockup agreements, which are standard following a company’s public listing after its merger with Gryphon Digital Mining, temporarily prevent insiders and pre-merger private placement shareholders from selling their shares.</p>
<div class="lb-trans"><p>這些鎖定協議是在公司與 Gryphon Digital Mining 合併後公開上市時的標準做法，暫時阻止內部人士和合並前的私募股東出售其股份。</p>
</div><p>However, the moment this restriction was lifted, it unleashed a massive supply of previously restricted stock onto the market.</p>
<div class="lb-trans"><p>然而，一旦這一限制解除，便釋放了大量之前受限的股票進入市場。</p>
</div><p>This surge in available shares led to the stock’s dramatic decline, which saw it fall nearly 50% in the first hour of trading.</p>
<div class="lb-trans"><p>可用股票的激增導致了股票的劇烈下跌，首小時交易中跌幅近 50%。</p>
</div><h2><strong>Eric Trump defends the selloff</strong></h2>
<div class="lb-trans"><h2><strong>埃裏克·特朗普為拋售辯護</strong></h2>
</div><p>Eric Trump confirmed this technical explanation on X, stating the selloff was expected due to the unlocking of pre-merger private placement shares.</p>
<div class="lb-trans"><p>埃裏克·特朗普在 X 上確認了這一技術解釋，表示由於解鎖合併前私募股東的股份，拋售是預期之中的。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/Eric-Trump.webp" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/12/Eric-Trump.webp"/></p>
<p>Source: Eric Trump/X</p>
<div class="lb-trans"><p>來源：埃裏克·特朗普/X</p>
</div><p>Crucially, he reaffirmed his long-term commitment, noting he has no plans to sell his personal holdings, but the short-term supply shock was overwhelming.</p>
<div class="lb-trans"><p>關鍵是，他重申了自己對長期投資的承諾，表示沒有計劃出售個人持股，但短期供應衝擊是壓倒性的。</p>
</div><p>The severity of the market reaction stands in stark contrast to American Bitcoin’s robust underlying financial and operational health.</p>
<div class="lb-trans"><p>市場反應的嚴重程度與美國比特幣強勁的基本財務和運營健康狀況形成鮮明對比。</p>
</div><h2><strong>Trump-backed firms’ Bitcoin holdings and more</strong></h2>
<div class="lb-trans"><h2><strong>特朗普支持的公司的比特幣持有情況及更多</strong></h2>
</div><p>The company reported impressive third-quarter results in October. Revenue reached $64.2 million, a significant increase from $11.6 million a year earlier. Additionally, the company made a positive turnaround in net income, achieving a profit of $3.5 million.</p>
<div class="lb-trans"><p>該公司在 10 月報告了令人印象深刻的第三季度業績。收入達到 6420 萬美元，較去年同期的 1160 萬美元大幅增長。此外，公司在淨收入方面實現了積極的扭轉，盈利 350 萬美元。</p>
</div><p>Beyond mining, the company has actively built its treasury. It is holding approximately 4,090 BTC as of mid-November, aligning with management’s stated goal to increase direct exposure to Bitcoin [BTC] while scaling production.</p>
<div class="lb-trans"><p>除了挖礦，該公司還積極建立其財庫。截至 11 月中旬，持有約 4090 個比特幣，符合管理層增加對比特幣 [BTC] 直接敞口的目標，同時擴大生產。</p>
</div><p>But the selloff also reflected the stock’s shaky history and the broader weakness in crypto equities.</p>
<div class="lb-trans"><p>但拋售也反映了該股票不穩定的歷史以及加密股市的整體疲軟。</p>
</div><p>American Bitcoin has been highly volatile since its Nasdaq debut. In fact, it surged to $9.31 in early September after a $170 million investment before entering a steady decline.</p>
<div class="lb-trans"><p>自納斯達克上市以來，美國比特幣一直高度波動。事實上，在 9 月初經過 1.7 億美元的投資後，其股價飆升至 9.31 美元，隨後進入穩定下滑。</p>
</div><p>Even before the lockup expiry, the stock was losing momentum, and the latest drop pushed it nearly 76.5% below its peak.</p>
<div class="lb-trans"><p>即使在鎖定期到期之前，該股票也在失去動能，最新的下跌使其股價比峯值低近 76.5%。</p>
</div><h2><strong>Trump-backed American Bitcoin had also seen a surge</strong></h2>
<div class="lb-trans"><h2><strong>特朗普支持的美國比特幣也曾經歷過激增</strong></h2>
</div><p>This followed American Bitcoin’s recent surge, fueled by Dominari Holdings’ sizeable investment and its merger-driven entry into public markets, capturing how aggressively the Trump family is expanding its footprint across the crypto ecosystem.</p>
<div class="lb-trans"><p>這發生在美國比特幣最近的激增之後，受到 Dominari Holdings 大規模投資和其通過合併進入公開市場的推動，顯示出特朗普家族在加密生態系統中積極擴展的腳步。</p>
</div><p>Beyond their stake in ABTC, the Trumps now control touchpoints across mining, stablecoins, memecoins, token launches, and even crypto ETF applications through World Liberty Financial [WLFI] and related ventures.</p>
<div class="lb-trans"><p>除了在 ABTC 的股份外，特朗普家族現在還控制着挖礦、穩定幣、迷因幣、代幣發行，甚至通過 World Liberty Financial [WLFI] 和相關企業申請加密 ETF 的接觸點。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><h2>Final thoughts</h2>
<div class="lb-trans"><h2>最後思考</h2>
</div><ul>
<li><em>Despite strong revenue growth, rising profitability, and expanded mining capacity, ABTC couldn’t withstand the supply shock.</em></li>
<li><em>Dominari’s investment and the Gryphon merger gave ABTC momentum, but they also exposed it to the pressures of public-market trading.</em></li>
</ul>
<div class="lb-trans"><ul>
<li><em>儘管收入增長強勁，盈利能力上升，挖礦能力擴大，ABTC 仍無法承受供應衝擊。</em></li>
<li><em>Dominari 的投資和 Gryphon 的合併為 ABTC 提供了動力，但也使其面臨公開市場交易的壓力。</em></li>
</ul>
</div>

‘我們將看到波動！’——Eric Trump 為 American Bitcoin 40% 的暴跌進行辯護