以太坊十字路口

以太坊站在十字路口，面對看跌力的匯合，威脅到其向上的軌跡。

In the volatile theater of cryptocurrency, where fortunes are won and lost with the swiftness of digital transactions, Ethereum (ETH) is currently facing a tempest of bearish sentiment. A confluence of factors, including significant sell-offs by the U.S. government, institutional investors, and a wave of panicked retail traders, has cast a long shadow over the once-promising asset. The numbers tell a bleak tale: a 5.75% drop in the last 24 hours alone, with the ominous prospect of further declines looming large.

在加密貨幣的揮發性劇院中，由於數字交易的迅速而贏得了命運和損失，以太坊（ETH）目前正面臨著看跌的暴風雨。各種因素匯合處，包括美國政府的重大拋售，機構投資者以及一波驚慌的零售商人，對曾經有興起的資產產生了悠久的陰影。這個數字講述了一個黯淡的故事：僅在過去的24小時內，下降了5.75％，而不祥的前景進一步下降了大大。

The recent flurry of selling activity, highlighted by the U.S. government’s disposal of 884.33 ETH, valued at $1.77 million, has triggered a domino effect, shaking the foundations of investor confidence. This action, coupled with the broader market’s bearish trends and the formation of lower lows on shorter time frames, shatters the historical patterns that once provided a safety net for Ethereum, leaving investors bracing for a potential freefall.

最近，美國政府處置了884.33 ETH的銷售活動，價值177萬美元，引發了多米諾骨牌效應，震撼了投資者信心的基礎。這一行動，再加上更廣泛的市場的看跌趨勢以及較短的時間範圍內的低點的形成，破壞了曾經為以太坊提供安全網的歷史模式，使投資者為潛在的自由落體提供了支持。

The U.S. government, a significant holder of Ethereum with a balance of 59,965 ETH, is usually a bellwether for market sentiment. Their recent sale, a substantial chunk of their holdings, has sent shockwaves through the crypto community. The timing of this sell-off is particularly concerning, as it coincides with an already declining market.

美國政府是以太坊的重要持有人，其餘額為59,965 ETH，通常是市場情緒的領先地位。他們最近的銷售是他們的大部分股份，通過加密貨幣社區造成了衝擊波。這種拋售的時機尤其令人擔憂，因為它與已經下降的市場相吻合。

To fully grasp the gravity of this situation, it’s crucial to examine the U.S. government’s past Ethereum sales and their subsequent impact on the market. Historically, these sales have occurred during periods of market downturn, often preceding a bounce back from key support levels. However, the current scenario deviates significantly from this pattern.

為了完全掌握這種情況的重力，至關重要的是要檢查美國政府過去的以太坊銷售及其隨後對市場的影響。從歷史上看，這些銷售發生在市場低迷時期，通常是從關鍵支持水平反彈之前。但是，當前的情況與這種模式顯著偏離。

On three previous occasions—August 5, October 1, and October 24—the U.S. government sold 299.95, 74.5, and 177.89 ETH, respectively. Each time, the asset experienced a decline, only to rally from the critical support level of $2,348.43. This level acted as a bulwark, preventing further losses and triggering a resurgence.

在以前的三場比賽中（10月1日和10月24日），美國政府分別出售了299.95、74.5和177.89 ETH。每次，資產都會下降，僅從$ 2,348.43的關鍵支持水平升起。該水平充當堡壘，阻止了進一步的損失並引發復興。

However, Ethereum is now trading below this crucial support level, a clear indication that the historical safety net has been compromised. The formation of a series of lower lows suggests a persistent downward trend, and with the risk of further declines looming large, investors are bracing for a potential freefall.

但是，以太坊現在的交易低於此關鍵支持水平，這清楚地表明歷史安全網已受到損害。一系列低點的形成表明持續的向下趨勢，並且隨著進一步下降的大幅度下降的風險，投資者正在為潛在的自由落體做好準備。

If the selling pressure continues unabated, Ethereum risks plummeting below the $1,754 mark. This level represents a critical threshold; a failure to bounce back from this point could trigger a cascade of losses, potentially leading to a significant market correction.

如果銷售壓力持續不斷，以太坊的風險跌至1,754美元以下。該級別代表著一個關鍵的閾值；從這一點上不反彈可能會引發一系列損失，這可能會導致重大的市場糾正。

Furthermore, AMBCrypto's analysis reveals that the current market trend is characterized by a sustained decline. Retail sentiment, a crucial indicator of market direction, has plummeted to a year-low, reaching levels typically seen during periods of extreme market pessimism.

此外，Ambcrypto的分析表明，當前市場趨勢的特徵是持續下降。零售情緒是市場方向的關鍵指標，已跌至一年低下，達到了極端市場悲觀時期通常可以看到的水平。

This decline in retail sentiment is corroborated by Google Trends data, which shows a significant drop in search interest for Ethereum. This metric, often used as a proxy for retail investor engagement, suggests a widespread disinterest and a potential exodus from the asset.

Google趨勢數據證實了零售情緒的下降，這表明以太坊的搜索興趣下降了。該指標通常用作零售投資者參與的代理，這表明對資產的普遍不感興趣和潛在的出埃及記。

The U.S. government’s actions have also ignited a wave of panic among retail investors, who are now aggressively offloading their Ethereum holdings. The Coinbase Premium Index, a tool that tracks this behavior, confirms this trend.

美國政府的行動還引起了散戶投資者的恐慌，他們現在正在積極地卸載其以太坊持有量。 Coinbase Premium指數是一種跟踪這種行為的工具，確認了這一趨勢。

The index, which turns negative when retail investors are net sellers, has dipped into negative territory for the first time since March 23. This reading, which reached -0.0016 at press time, indicates a growing sense of unease among retail traders, who are increasingly opting to sell rather than hold onto their Ethereum assets.

該指數在3月23日以來首次浸入了負面的領土時，該指數在銷售時首次浸入了負面。該閱讀在發稿時達到-0.0016，這表明零售交易者之間越來越多的不安感，他們越來越多地選擇賣出而不是賣給他們的以太坊資產。

This retail panic could be attributed to several factors, including the broader market downturn, macroeconomic uncertainties, and the U.S. government’s actions. As retail investors become more panicked and sell their assets, they could be putting further downward pressure on Ethereum’s price.

這種零售恐慌可以歸因於幾個因素，包括更廣泛的市場低迷，宏觀經濟的不確定性和美國政府的行動。隨著散戶投資者變得越來越恐慌並出售其資產，他們可能會對以太坊的價格施加進一步的下降壓力。

In addition to the retail selling pressure, institutional investors appear to be exiting their Ethereum positions. According to Collective Mind's data, institutions, who hold approximately $8.83 billion worth of Ethereum in assets under management, have been selling since the beginning of March.

除零售銷售壓力外，機構投資者似乎正在退出以太坊的頭寸。根據Collective Mind的數據，自3月初以來，該機構在管理資產中持有約88.3億美元的以太坊的資產。

So far, they have sold a staggering $402.6 million worth of Ethereum between March 3 and the present day. This exodus of institutional capital, driven by a lack of confidence in Ethereum’s short-term prospects, is further contributing to the asset’s downward trajectory.

到目前為止，他們在3月3日至今天之間已經出售了價值4.026億美元的以太坊。由於對以太坊的短期前景缺乏信心的驅動，機構資本的這種出現進一步促進了資產的下降軌跡。

If institutions continue selling, the next price target could be $1,754, as indicated by the charts. However, if this selling pressure lessens, we might see a bounce at the Fib 0.618 level, currently at $2,008.

如果機構繼續銷售，則下一個目標目標可能為1,754美元，如圖表所示。但是，如果這種銷售壓力降低，我們可能會看到FIB 0.618水平的反彈，目前為2,008美元。

Overall, the confluence of selling pressure from government entities, retail

總體而言，政府實體，零售業的銷售壓力匯合