The United States government has introduced several policies to support cryptocurrency, but the market continues to face high volatility and falling prices.

美國政府推出了幾項政策以支持加密貨幣，但市場仍面臨高波動性與價格下跌的問題。

The current administration has tried to build a closer relationship with the digital asset industry. For example, they have appointed industry-friendly officials to the Securities and Exchange Commission and promoted the GENIUS Act. Furthermore, the Digital Asset Market Clarity Act is being discussed to create clear regulations. Analysts emphasize that this could reduce legal uncertainty for large institutions, although the law may be delayed due to concerns about the President's personal finances.

現任政府嘗試與數位資產產業建立更親密的關係。例如，他們在證券交易委員會任命了對產業友好的官員，並推廣了《GENIUS法案》。此外，他們正討論《數位資產市場清晰法案》以制定明確的監管條例。分析師強調，這可以減少大型機構的法律不確定性，儘管該法律可能會因對總統個人財務的疑慮而推遲。

At the same time, the President and his family have made an estimated $1.4 billion from cryptocurrency ventures. They avoided risk by taking cash payments and fees instead of holding volatile coins. In contrast, regular investors in the $TRUMP meme coin have lost $3.8 billion. Similarly, the company MicroStrategy has faced serious financial pressure; after its share price dropped by 78 percent, the firm had to sell its Bitcoin reserves to pay dividends.

同時，總統及其家人從加密貨幣創業項目中估計賺取了 14 億美元。他們透過收取現金付款和費用而非持有波動的代幣來規避風險。相比之下，投資 $TRUMP 迷因幣的普通投資者則損失了 38 億美元。同樣地，MicroStrategy 公司面臨嚴重的財務壓力；在其股價下跌 78% 後，該公司不得不出售其比特幣儲備以支付股息。

Finally, structural problems have appeared in the industry. Because Bitcoin mining requires so much energy, it has become less profitable as prices fall. Consequently, some mining companies are switching to artificial intelligence infrastructure to make more reliable profits. Additionally, the rise of stablecoins shows a shift toward tools used for actual transactions, whereas Bitcoin is increasingly seen as a speculative gamble rather than a safe way to protect money from inflation.

最後，產業中出現了結構性問題。由於比特幣挖礦需要大量能源，隨著價格下跌，獲利能力降低。因此，部分挖礦公司正轉向人工智慧基礎設施以獲取更穩定的利潤。此外，穩定幣的興起顯示出市場正轉向實際交易工具，而比特幣則越來越被視為一種投機賭博，而非一種防止通貨膨脹的避險資產。

Despite government efforts to make the U.S. a global center for cryptocurrency, the market remains unstable and is heavily affected by global economic factors that the government cannot control.

儘管政府努力將美國打造為全球加密貨幣中心，但市場依然不穩定，且深受政府無法控制的全球經濟因素影響。