由于比特币形成风险模式，预示着更多下行空间，加密货币相关股票面临巨大风险

Coinbase股价已较今年最高点暴跌24%，徘徊在5月20日以来的最低点。

Bitcoin-related stocks are facing a lot of pressure as the coin forms risky technical patterns that could see it crash to $50,000. Coinbase stock price has already crashed by 24% from the highest point this year and is now trading at the lowest level since May 20th.

比特币相关股票面临着巨大压力，因为比特币形成了风险技术模式，可能会跌至 50,000 美元。 Coinbase股价已较今年最高点暴跌24%，目前处于5月20日以来的最低水平。

Bitcoin mining stocks have also retreated from their record highs. For example, MicroStrategy (NASDAQ:MSTR) stock has dived by more than 31% from the YTD high while Marathon Digital (NASDAQ:MARA) has collapsed by 42%. Other Bitcoin mining companies like CleanSparK, Cipher Mining, Bitfarms, and Core Scientific have also moved into a bear market after falling by more than 20% from their YTD highs.

比特币矿业股也从历史高位回落。例如，MicroStrategy (纳斯达克股票代码：MSTR) 股价较年初至今高点下跌超过 31%，而 Marathon Digital (纳斯达克股票代码：MARA) 则暴跌 42%。 CleanSparK、Cipher Mining、Bitfarms 和 Core Scientific 等其他比特币挖矿公司在较年初至今高点下跌超过 20% 后也进入熊市。

All these stocks tend to do well when Bitcoin is in a bull market. For example, most of them soared to multi-year highs in March as Bitcoin climbed to a record high of $73,600. This performance happened because BTC is the main driver for the crypto industry and when t soars, other altcoins do well. At the same time, Bitcoin mining companies generate higher profits when Bitcoin is in an uptrend as well while Coinbase and other exchanges see more activity.

当比特币处于牛市时，所有这些股票往往表现良好。例如，随着比特币攀升至 73,600 美元的历史新高，其中大多数在 3 月份飙升至多年高点。出现这种表现是因为 BTC 是加密货币行业的主要驱动力，当 t 飙升时，其他山寨币表现良好。与此同时，当比特币处于上升趋势时，当 Coinbase 和其他交易所看到更多活动时，比特币挖矿公司会产生更高的利润。

Now, the biggest risk for stocks like COIN, MSTR, and MARA is that Bitcoin is in a dangerous path that could see it crash to $50,000 in the near term. As shown above, the coin has formed a quadruple-top chart pattern whose neckline is at $56,400.

现在，COIN、MSTR 和 MARA 等股票面临的最大风险是，比特币正处于危险的道路上，可能会在短期内跌至 50,000 美元。如上图所示，该代币已形成四重顶图表形态，颈线位于 56,400 美元。

This pattern forms when buyers are afraid of buying an asset above a key resistance point, which we saw earlier this month as Bitcoin failed to rise above $72,200. In most cases, this pattern is among the riskiest in the financial market.

当买家害怕购买高于关键阻力点的资产时，就会形成这种模式，本月早些时候，当比特币未能升至 72,200 美元以上时，我们就看到了这种情况。在大多数情况下，这种模式是金融市场中风险最高的模式之一。

At the same time, Bitcoin has crashed below the 50-day and 100-day Exponential Moving Averages (EMA). It is also hovering at the 23.6% Fibonacci Retracement level.

与此同时，比特币已跌破 50 天和 100 天指数移动平均线 (EMA)。它还徘徊在 23.6% 斐波那契回撤位。

Therefore, we can expect to see more downside for the coin, especially if sellers manage to push it below the neckline at $56,400. If this happens, the next point to watch will be the psychological level at $56,400 followed by the 50% retracement level at $44,000.

因此，我们预计该代币将面临更多下行空间，特别是如果卖家设法将其推至颈线以下 56,400 美元的话。如果发生这种情况，下一个值得关注的点将是 56,400 美元的心理水平，然后是 44,000 美元的 50% 回撤水平。

Such a performance will lead to more downside for Bitcoin mining stocks like Riot Platforms, Cipher Mining, and Marathon Digital. This performance will likely happen because of a lack of catalyst in the crypto industry.

这样的表现将导致 Riot Platform、Cipher Mining 和 Marathon Digital 等比特币矿业股票面临更大的下行空间。由于加密行业缺乏催化剂，这种表现很可能会发生。

Bitcoin halving has already happened, the SEC already approved Bitcoin ETFs and the Fed shows no signs of starting to cut interest rates. Bitcoin ETFs are also seeing outflows, pointing to weaker demand.

比特币减半已经发生，美国证券交易委员会已经批准了比特币 ETF，美联储也没有显示出开始降息的迹象。比特币 ETF 也出现资金外流，表明需求疲软。