隨著 ETH/BTC 貨幣對觸及 2021 年低點，以太幣 (ETH) 累積趨勢加劇

以太幣（ETH）在3000美元大關上方經歷了一段相對穩定的時期，但近期ETH/BTC貨幣對的波動引起了投資者的關注。

As Ethereum (ETH) price action hovers above the $3,000 mark, recent fluctuations in the ETH/BTC pair have not gone unnoticed by investors. With the ETH/BTC pair hitting its lowest level since 2021, traders in key markets like Korea and the U.S. are presented with an opportunity to buy Ethereum, a move that seems to be driven by the belief that the token is currently undervalued. This, coupled with bullish activity from derivative traders, suggests that Ethereum’s future price movement may be on the cusp of a breakout.

隨著以太幣 (ETH) 價格走勢徘徊在 3,000 美元大關之上，投資者並沒有忽視 ETH/BTC 貨幣對近期的波動。隨著 ETH/BTC 貨幣對觸及 2021 年以來的最低水平，韓國和美國等主要市場的交易者有機會購買以太坊，此舉似乎是由於認為該代幣目前被低估。再加上衍生性商品交易商的看漲活動，顯示以太坊未來的價格走勢可能正處於突破的邊緣。

The significance of the ETH/BTC drop cannot be overstated. This pair measures the value of Ethereum relative to Bitcoin, and it has recently dipped to its lowest point in over three years, falling below 0.03221. This signals a decline in the relative value of ETH when compared to BTC, which has seen a dramatic rise in price, recently surpassing $97,000 for the first time in history.

ETH/BTC 下跌的重要性怎麼強調都不為過。該貨幣對衡量以太幣相對於比特幣的價值，最近已跌至三年多來的最低點，跌破 0.03221。這表明與 BTC 相比，ETH 的相對價值有所下降，BTC 的價格大幅上漲，最近歷史上首次突破 97,000 美元。

This decline in the ETH/BTC ratio can be interpreted in two ways. On one hand, Bitcoin’s surge could indicate a market shift towards Bitcoin, with liquidity flowing out of Ethereum and into BTC. As Bitcoin’s dominance continues to grow, investors may prioritize BTC over ETH, potentially leading to further declines in Ethereum’s price relative to Bitcoin.

ETH/BTC 比率的下降可以用兩種方式來解釋。一方面，比特幣的飆升可能表明市場正在轉向比特幣，流動性從以太坊流出並流入比特幣。隨著比特幣的主導地位持續成長，投資者可能會優先考慮比特幣而不是以太坊，這可能導致以太坊相對於比特幣的價格進一步下跌。

However, another interpretation is that the drop in the ETH/BTC pair presents a buying opportunity for those who believe Ethereum is currently undervalued. The latter view seems to be gaining traction, as AMBCrypto’s analysis indicates that buying activity in Ethereum has increased despite the drop in its relative value. Many investors see this as an opportunity to buy ETH at a discount, with the belief that it could rebound strongly once the market’s focus shifts back to Ethereum.

然而，另一種解釋是，ETH/BTC 貨幣對的下跌為那些認為以太幣目前被低估的人提供了買入機會。後一種觀點似乎越來越受歡迎，因為 AMBCrypto 的分析表明，儘管以太坊的相對價值有所下降，但以太坊的購買活動卻增加。許多投資者認為這是一個折價購買 ETH 的機會，相信一旦市場焦點重新轉向以太坊，它可能會強勁反彈。

Recent data highlights strong accumulation activity from investors, particularly in South Korea and the United States. Both countries have seen increased buying pressure, which is reflected in the Korean Premium Index and the Coinbase Premium Index. These indices measure the price difference between major exchanges in each region and the broader market.

最近的數據凸顯了投資者的強勁增持活動，特別是在韓國和美國。這兩個國家的購買壓力都在增加，這反映在韓國溢價指數和 Coinbase 溢價指數。這些指數衡量每個地區主要交易所與更廣泛市場之間的價格差異。

Currently, the Korean Premium Index stands at 1.37, and the Coinbase Premium Index is at 0.0073, both of which suggest that investors in these regions are actively accumulating ETH. When these indices rise above 1, it typically signals strong buying sentiment. The sustained buying activity from these key regions could fuel Ethereum’s recovery and drive the token toward new highs.

目前，韓國溢價指數為1.37，Coinbase溢價指數為0.0073，這兩者都顯示這些地區的投資者正在積極累積ETH。當這些指數升至 1 以上時，通常表示購買情緒強勁。這些關鍵地區的持續購買活動可能會推動以太坊的復甦，並推動該代幣創下新高。

If this trend continues, the buying momentum could push Ethereum’s price up, possibly reversing its recent dip and sending it toward higher levels.

如果這種趨勢持續下去，購買勢頭可能會推高以太坊的價格，可能會​​扭轉近期的下跌趨勢，並將其推向更高的水平。

Another key factor contributing to the growing bullish outlook on Ethereum is the activity in the derivatives market. CryptoQuant data shows that derivative traders are increasingly aligning with the buying trend. Specifically, the Funding Rate—which tracks the balance between long and short positions in Ethereum Futures—has been favoring long positions at press time. This indicates that traders expect Ethereum to rise from its current price level, further strengthening the case for a potential upward move.

導致以太坊前景日益看漲的另一個關鍵因素是衍生性商品市場的活動。 CryptoQuant 數據顯示，衍生性商品交易者越來越符合購買趨勢。具體來說，追蹤以太坊期貨多頭部位和空頭部位之間平衡的資金利率截至發稿時一直有利於多頭部位。這表明交易者預計以太坊將從當前價格水準上漲，進一步強化了潛在上漲的理由。

Moreover, the Taker Buy/Sell Ratio, which measures the volume of buy versus sell orders from market participants, has surged to its highest point of the month, surpassing 1.0486. A ratio above 1 signals that there is more buying activity than selling, reinforcing the bullish sentiment among traders.

此外，衡量市場參與者的買入與賣出訂單量的 Taker 買入/賣出比率已飆升至本月最高點，超過 1.0486。比率高於 1 表示買入活動多於賣出活動，從而強化了交易者的看漲情緒。

These positive trends in the derivatives market further support the notion that Ethereum could be poised for a rebound. With strong demand from both retail investors in key markets and institutional players in the derivatives space, Ethereum may have the momentum it needs to break through recent resistance levels and move higher.

衍生性商品市場的這些正面趨勢進一步支持了以太坊可能會反彈的觀點。由於主要市場的散戶投資者和衍生性商品領域的機構參與者都有強勁的需求，以太坊可能擁有突破近期阻力位並走高所需的動力。

Ethereum’s price action in recent weeks has been a mix of stability and volatility. Despite a modest 2.15% decline over the past week, ETH has managed to remain above the $3,000 mark, reflecting its resilience even in the face of a shifting market.

以太坊最近幾週的價格走勢既穩定又波動。儘管過去一周小幅下跌 2.15%，但 ETH 仍設法保持在 3,000 美元大關之上，反映出即使面對市場變化，其仍具有韌性。

Looking ahead, the key question is whether Ethereum can reclaim some of its lost ground in the ETH/BTC pair. With Bitcoin’s dominance growing, it remains to be seen whether Ethereum can rally strongly enough to shift investor sentiment back in its favor. However, the increasing accumulation from investors in South Korea and the U.S., combined with positive trends in the derivatives market, suggests that Ethereum has a strong foundation for growth in the near term.

展望未來，關鍵問題是以太坊能否收復 ETH/BTC 貨幣對的部分失地。隨著比特幣的主導地位不斷增強，以太坊是否能夠強勁反彈以將投資者情緒重新轉向對它有利的方向還有待觀察。然而，韓國和美國投資者的不斷積累，加上衍生性商品市場的正面趨勢，顯示以太坊在短期內擁有堅實的成長基礎。

While the ETH/BTC pair’s drop may raise some concerns, the current market conditions also present a unique buying opportunity for investors who view Ethereum as undervalued. The rise in buying activity, particularly from key markets like South Korea and the U.S., signals growing confidence in Ethereum’s long-term potential. Additionally, the bullish sentiment in the derivatives market further supports the notion that Ethereum is poised for a potential rebound.

雖然 ETH/BTC 貨幣對的下跌可能會引起一些擔憂，但當前的市場狀況也為認為以太幣被低估的投資者提供了獨特的買入機會。購買活動的增加，尤其是來自韓國和美國等主要市場的購買活動的增加，標誌著人們對以太坊長期潛力的信心不斷增強。此外，衍生性商品市場的看漲情緒進一步支持了以太坊有望反彈的觀點。

If this buying pressure continues to build, Ethereum could see significant upward movement in the coming weeks, potentially reclaiming its previous highs and improving its standing in the ETH/BTC pair. For investors looking

如果這種購買壓力繼續增加，以太幣可能會在未來幾週內大幅上漲，有可能恢復先前的高點並改善其在 ETH/BTC 貨幣對中的地位。對於尋找的投資者