Ether（ETH）價格可能會在進行持續恢復之前先進行更深入的更正

本文不包含投資建議或建議。每個投資和貿易舉動都涉及風險，讀者應進行自己的研究

Ether (ETH) slid below the crucial $1,500 support level as its most recent sell-off saw a deeper correction.

Ether（ETH）滑低於至關重要的1,500美元的支持水平，因為其最近的拋售更加更深層次。

According to crypto analyst theKriptolik, ETH price dropped below its realized price, which is a bearish event.

根據加密分析師Thekriptolik的說法，ETH價格下跌以下是其實現的價格，這是一個看跌事件。

Most analysts suggest that the realized price, which is calculated by adjusting the market value of a cryptocurrency based on the price at which each coin last moved, acts as resistance when it’s above the spot price and places “most holders suddenly in a loss position.”

大多數分析師認為，實現的價格是通過基於每個硬幣上次移動的價格調整加密貨幣的市場價值來計算的，當它超過現貨價格並將“大多數持有人突然處於損失位置”時，它就會充當阻力。

Onchain analysis: Is ETH price at risk of deeper correction?

OnChain分析：ETH價格是否有更深的更正風險？

The realized price fell below the spot price in June 2022, which was followed by a 51% drop in ETH price following the Terra Luna market crash. A similar scenario was witnessed in November 2022, when the metric fell below the price before Ether dropped 35% following the FTX collapse.

實現的價格低於2022年6月的現貨價格，隨後，在Terra Luna市場崩潰之後，ETH價格下跌了51％。在2022年11月，當時指標在FTX崩潰後降低了35％之前，在2022年11月也見證了類似的情況。

Now that a similar scenario is playing out, the current setup loosely echoes those prior bearish continuation phases, with ETH price at risk of deeper correction.

既然類似的情況正在播放，目前的設置鬆散地迴盪了那些前去的延續階段，ETH價格面臨著更深層的校正風險。

Despite May gains, lack of institutional demand in Ether ETFs is concerning

儘管有可能增加，但以太ETF缺乏機構需求

According to data from digital assets management firm Farside Investors, there were no inflows into any crypto products in the week ending April 7, with investors pulling funds from both equities and bonds.

根據數字資產管理公司Farside Investors的數據，截至4月7日的一周中，任何加密產品都沒有流入，投資者從股票和債券中汲取了資金。

This follows a week of moderate inflows, mainly driven by institutional demand for Bitcoin (BTC) and Ether.

這是一周中等的流入，主要是由對比特幣（BTC）和以太的機構需求驅動的。

However, despite the narrative that institutional demand played a role in the gains accrued in May 2024 as investors bet on an ETF approval from the US Securities and Exchange Commission, this lack of interest in the products is concerning.

然而，儘管有敘述是機構需求在2024年5月的收益中發揮了作用，因為投資者押注了美國證券交易委員會的ETF批准，但對產品的缺乏興趣是令人擔憂的。

According to the report fromlium, this is also reflected across all other Ether products, with flows into Ethereum investment funds aligning with the bearishness seen across the market, with $37.4 million outflows recorded during the week ending April 4.

根據fromlium的報告，這也反映在所有其他以太產品中，流入以太坊投資基金與全市看到的看跌相一致，截至4月4日的一周中記錄了3740萬美元的流出。

This is in direct contrast to the inflows of $100 million seen the previous week, which were the highest since December 2021 and followed the approval of several spot Bitcoin ETFs by the SEC.

這與上週看到的1億美元的流入直接形成鮮明對比，這是自2021年12月以來最高的，遵循SEC的幾個位比特幣ETF的批准。

According to the report, the outflows from digital assets investment products paused this week after seven consecutive weeks of outflows.

根據該報告，經過連續七個星期的流出後，本週數字資產投資產品的流出暫停。

Other market weakness: Low open interest and negative funding rates

其他市場弱點：開放利息低和負面資金率

Another factor putting pressure on Ether’s price is the lack of enthusiasm in its derivatives market, evidenced by low open interest and negative funding rates.

向以太價格施加壓力的另一個因素是其衍生品市場缺乏熱情，這證明了開放利息低和負面的資金率。

Open interest (OI)—the total number of outstanding futures and options contracts—remains low, indicating reduced trader participation and speculative activity.

開放興趣（OI）（未償還期貨和期權合約的總數）較低，表明交易者參與和投機活動減少。

Currently, at $16.7 billion, the metric is 48% below its peak of $32.3 billion witnessed on Jan. 24.

目前，該度量標准在1月24日被見證了323億美元的峰值48％。

Declining OI signals waning investor confidence or interest, which can exacerbate the price decline as buying pressure dries up.

OI的下降信號會逐漸減弱投資者的信心或利息，這可能會加劇價格下降，因為購買壓力會降低。

This lack of interest is also reflected in the lack of demand for spot Ethereum ETFs, which saw more outflows on April 8, with over $3.3 million in net outflows from these products.

這種缺乏興趣也反映在缺乏對現場以太坊ETF的需求，後者在4月8日出現了更多的流出，這些產品的淨流出超過330萬美元。

Over the last two weeks, these investment products have recorded $94.1 million in outflows against $13 million in inflows.

在過去的兩個星期中，這些投資產品的流出量為9,410萬美元，而流入為1300萬美元。

According to the report fromlium, this is also reflected across all other Ether products, with flows into Ethereum investment funds aligning with the bearishness seen across the market, with $37.4 million outflows recorded during the week ending April 4.

根據fromlium的報告，這也反映在所有其他以太產品中，流入以太坊投資基金與全市看到的看跌相一致，截至4月4日的一周中記錄了3740萬美元的流出。

This is in direct contrast to the inflows of $100 million seen the previous week, which were the highest since December 2021 and followed the approval of several spot Bitcoin ETFs by the SEC.

這與上週看到的1億美元的流入直接形成鮮明對比，這是自2021年12月以來最高的，遵循SEC的幾個位比特幣ETF的批准。

According to the report, the outflows from digital assets investment products paused this week after seven consecutive weeks of outflows.

根據該報告，經過連續七個星期的流出後，本週數字資產投資產品的流出暫停。

Point of interest: Despite the broader market weakness, inflows into cryptocurrencies continues.

興趣點：儘管市場疲軟較大，但仍在流入加密貨幣。

According to the report, the outflows from digital assets investment products paused this week after seven consecutive weeks of outflows.

根據該報告，經過連續七個星期的流出後，本週數字資產投資產品的流出暫停。

However, inflows into cryptocurrencies continues, with $244 million in inflows into cryptocurrency exchange-traded funds (ETFs) and other exchange-traded products (ETPEs) over the past week.

但是，在過去一周中，流入加密貨幣的流入仍在繼續，流入了2.44億美元的加密貨幣交易所資金（ETF）和其他交易所交易貿易產品（ETPE）。

This is in contrast to the outflows of $171 million seen the previous week.

這與上週的1.71億美元流出相反。

According to the report, the inflows into cryptocurrencies were driven by retail demand, as institutional demand remains weak.

根據該報告，由於機構需求仍然很弱，因此進入加密貨幣的流入是由零售需求驅動的。

According to the report, the lack of institutional demand is a concern, especially since it was considered a key part of Ether’s appeal and played a role in the gains accrued in May 2024 as investors bet on an ETF approval from the US Securities and Exchange Commission.

根據該報告，缺乏機構需求是一個問題，尤其是因為它被認為是Ether上訴的關鍵部分，並在2024年5月的收益中發揮了作用，因為投資者押注了美國證券交易委員會的ETF批准。

However, despite the narrative that institutional demand played a role in the gains accrued in May 2024 as investors bet on an ETF approval from the US Securities and Exchange Commission, this lack of interest in the products is concerning.

然而，儘管有敘述是機構需求在2024年5月的收益中發揮了作用，因為投資者押注了美國證券交易委員會的ETF批准，但對產品的缺乏興趣是令人擔憂的。

According to the report

根據報告