以太坊（ETH）正在經歷投資者利益的激增，因為情緒樞軸遠離比特幣（BTC）

諸如Taker買賣比率和成本基礎分佈（CBD）之類的初級指標現在正在為比特幣描繪以太坊的圖片。

Recent market data suggests that traders are pivoting their interest away from Bitcoin ($BTC) and toward Ethereum ($ETH) in the near term. This shift in sentiment is evident in several key metrics, including the taker buy-sell ratio and the cost basis distribution (CBD).

最近的市場數據表明，貿易商在短期內將其利益從比特幣（$ btc）和以太坊（$ eth）轉移。在幾個關鍵指標中，這種情緒轉變顯而易見，包括Taker購買比率和成本基礎分佈（CBD）。

A closer look at these metrics reveals a bullish outlook for Ethereum compared to Bitcoin, especially considering that ETH's price itself is undergoing a period of buildup. This trend is unfolding even as BTC continues to face waning demand in the market.

與比特幣相比，對這些指標的仔細研究表明，對以太坊的看法是看好以太坊的看法，尤其是考慮到ETH的價格本身正在建立一段時期。即使BTC繼續面臨市場需求，這種趨勢也在不斷發展。

Traditionally, when the taker buy-sell ratio for Bitcoin starts to decline while Ethereum's rises, it indicates a trend reversal in which Ethereum starts to outperform Bitcoin. And that is precisely what we are witnessing now in the crypto market.

傳統上，當比特幣的Taker購買比率開始下降時，以太坊的升高時，這表明趨勢逆轉以太坊開始勝過比特幣。這正是我們現在在加密貨幣市場中所目睹的。

Bitcoin's buy-sell ratio has been dropping for some time, and this, of course, reflects diminishing buying momentum and a less rosy forecast in the short run for Bitcoin. At the same time, Ethereum's ratio is rising, which points to quite the opposite scenario for Ethereum—that is, it is enjoying a nice upsurge in buying interest and investor sentiment.

比特幣的買賣比率已經下降了一段時間，當然，這反映了購買勢頭的減少和比特幣短期內的玫瑰色預測。同時，以太坊的比例正在上升，這表明以太坊的情況相反，也就是說，它在購買興趣和投資者的情緒方面享受著一個不錯的增長。

This shifting market dynamic indicates that an increasing number of investors are turning to Ethereum, probably because of the recent updates to the network and its rising popularity in areas like DeFi, non-fungible tokens, and layer-2 solutions. With Bitcoin's supremacy in the market starting to wane, Ethereum is definitely the next contender to capture the spotlight, especially as institutional appetite for blockchain alternative assets continues to swell.

這種不斷變化的市場動態表明，越來越多的投資者轉向以太坊，這可能是因為最近對網絡的更新及其在諸如DEFI，無易於康復的代幣和第2層解決方案等領域的受歡迎程度不斷提高。隨著比特幣在市場上的至高無上的開始，以太坊絕對是吸引聚光燈的下一個競爭者，尤其是隨著區塊鏈替代資產的機構胃口的持續膨脹。

This burgeoning Ethereum momentum is most evident in the cost basis distribution (CBD) for Ethereum. The CBD for Ethereum is trending down across multiple cost bases, signaling that investors have been stocking up on Ethereum as its price has dipped. This accumulation behavior is even more remarkable when you consider that most of the time, when we're seeing price decreases, those decreases are accompanied by an increase in trading volume. And volume is usually associated with price discovery or some discernible reason for buyers or sellers to be trading.

在以太坊的成本基礎分配（CBD）中，這種新興的以太坊勢頭最為明顯。以太坊的CBD正在跨多個成本基礎下降，這表明投資者隨著價格下跌而儲備以太坊。當您考慮大多數情況下，當我們看到價格下降時，這些累積行為就會變得更加顯著，這些下降伴隨著交易量的增加。而且數量通常與價格發現或買賣雙方交易的某些明顯原因有關。

Ethereum's main support area is roughly around $2,632, which is where about 786,660 ETH is stashed. That's an important price level that has become a sort of threshold for Ethereum, where you're seeing buyers come in and trying to step it up. Conversely, the primary resistance level is at about $3,149, where roughly 1.22 million ETH is held. Accumulation and resistance zones at those price points are pretty much dictating the Ethereum price with say a 90 to 95 percent chance of hitting one of those thresholds when you're looking at short to medium price action.

以太坊的主要支持區約為2,632美元，這是藏匿約786,660 ETH的地方。這是一個重要的價格水平，已經成為以太坊的門檻，您正在看到買家進來並試圖加強它。相反，主要阻力水平約為3,149美元，大約有122萬個ETH。在這些價格點處的積累和阻力區幾乎決定了以太坊價格，當您考慮短時間到中價行動時，有90％至95％的機會達到其中一個門檻。

$ETH Cost Basis Distribution (CBD) shows multiple cost bases have been moving lower, indicating investors have been accumulating on the way down. Accumulation zones show key support at $2,632 (786.66K #ETH) and resistance at $3,149 (1.22M #ETH): https://t.co/ARq7wTmIpy pic.twitter.com/SwJaWn0u8L

$ ETH成本基礎分配（CBD）表明，多個成本基礎一直在降低，這表明投資者在下降的途中已經積累了。累積區域的主要支持為$ 2,632（786.66k #ETH），抵抗力為$ 3,149（122萬#eth）：https：//t.co/arq7wtmipy pic.twitter.com/swjawn0u8l

— glassnode (@glassnode) February 24, 2025

- 2025年2月24日，玻璃節（@GlassNode）

Accumulating at lower prices is a trend we've seen with other assets, like Maker ($MKR), where investors have displayed countermarket behavior by lowering their cost basis and holding through dips. For Ethereum, this is a similar play. If Ethereum investors were to behave in a countermarket fashion, that would mean they are accumulating at lower prices. If we see these same investors holding through dips and not panicking, then what we have here is a strong long-term play with a potentially not-so-volatility-prone asset.

以較低的價格積累是我們在其他資產中看到的趨勢，例如製造商（$ MKR），在該資產中，投資者通過降低其成本基礎並通過下降來表現出反市場行為。對於以太坊來說，這是類似的戲。如果以太坊投資者的行為方式相反，那將意味著他們以較低的價格積累。如果我們看到這些相同的投資者在下跌而不慌張的情況下，那麼我們在這裡擁有的長期發揮具有強大的長期發揮，潛在的不易易應性資產。

Ethereum's Spot ETF Inflows Signal Positive Market Sentiment

以太坊的斑點ETF流入信號信號積極市場情緒

Finally, a glance at the respective ETF inflows for Bitcoin and Ethereum over the past month shows that Ethereum is moving on a path toward significant global adoption. Performance in the ETF space is just one of many signaling mechanisms moving Ethereum this way. This ETF space performance, meanwhile, is in stark contrast to what’s happening with the Bitcoin ETF. Inflows to the Bitcoin ETF space have really dried up; they're down about 36% over the past month. So, while something seems to be going on with the Bitcoin ETF in terms of maybe senderial performance, the Ethereum ETF is not just outpacing it at this point. Both are obviously still kind of small in the grand scheme, but Ethereum ETF inflows are up; Bitcoin ETF inflows are down.

最後，在過去一個月中，比特幣和以太坊各自的ETF流入表明，以太坊正在邁向大量全球採用的道路。 ETF空間中的性能只是這種方式移動以太坊的許多信號機制之一。同時，這種ETF空間性能與比特幣ETF發生的情況形成了鮮明對比。流入比特幣ETF空間的流入確實乾燥了。在過去的一個月中，他們下降了約36％。因此，雖然比特幣ETF的某些事情在可能的情況下可能正在發生，但以太坊ETF在這一點上不僅要超過它。兩者在宏偉的計劃中顯然仍然很小，但是以太坊ETF的流入卻在上升。比特幣ETF流入量下降。

Last week (February 18 to February 21, US Eastern Time), the Bitcoin spot ETF had a net outflow of US$559 million, and the Ethereum spot ETF had a net inflow of US$1.61 million. https://t.co/Tvs2oCS03I

上週（2月18日至2月21日，美國東部時間），比特幣現場ETF的淨流出為5.59億美元，Ethereum Spot ETF的淨流入淨流入為161萬美元。 https://t.co/tvs2ocs03i

— Wu Blockchain (@WuBlockchain) February 24, 20

- WU區塊鏈（@wublockchain）2月24日，20日