以太坊（ETH）面臨著清算風險和潛在的短擠壓，因為價格在24小時內下降了11.5％

以太坊（ETH）在過去的24小時中下跌了11.5％，至2,390美元左右，這使它走上了潛在的大規模清算的道路

Ethereum (ETH) has fallen 11.5% over the past 24 hours to around $2,390, continuing its slide toward potential large-scale liquidations while simultaneously setting up conditions for a possible short squeeze if prices reverse course.

以太坊（ETH）在過去的24小時內下跌了11.5％，至2,390美元左右，繼續向潛在的大規模清算，同時設置條件，如果價格倒轉，則可能會短暫擠壓。

Three major MakerDAO positions, collectively worth $340 million, now face liquidation if ETH’s price drops below key thresholds, data from on-chain analytics platforms shows. These positions will trigger liquidations at $1,926, $1,842, and $1,793 respectively, with each position valued between $109 million and $126 million. For these liquidations to occur, ETH would need to fall another 19% from current levels.

鏈分析平台的數據顯示，如果ETH的價格下跌以下，則三個主要的Makerdao職位，總值3.4億美元，現在面臨著清算。這些職位將分別觸發1,926美元，1,842美元和1,793美元的清算，每個職位價值在1.09億美元至1.26億美元之間。對於這些清算，ETH將需要從當前水平下降19％。

The recent price drop has already caused $296 million worth of ETH positions to be liquidated on centralized exchanges in just the past day, according to data from CoinGlass. This comes as part of a market-wide sell-off affecting not only cryptocurrencies but also global equities.

根據Coinglass的數據，最近的價格下跌已經導致價值2.96億美元的ETH職位在集中式交流中清算。這是全市場拋售的一部分，不僅影響加密貨幣，而且影響全球股票。

ETH’s current price represents a 42% decline since December 16, a steeper drop than typically seen even in bull market corrections, which usually max out around 30% before resuming upward momentum. These pullbacks often serve to remove over-leveraged positions from the market.

ETH的當前價格自12月16日起下降了42％，即使在牛市校正中，通常比通常看到的急劇下降，通常在恢復向上勢頭之前最大約30％。這些回調通常可以消除市場上的過度槓杆位置。

On the opposite side of the spectrum, Exchange Liquidation Map data reveals a large accumulation of short positions that would face liquidation if ETH’s price moves upward instead. Reports indicate more than $2 billion in ETH shorts would be liquidated if the price reaches $3,000.

在頻譜的另一側，交換清算圖數據顯示，如果ETH的價格向上移動，則大量的短位置積累。報告表明，如果價格達到3,000美元，將清算超過20億美元的ETH短褲。

This creates a situation where a price surge could trigger a “short squeeze” – a rapid price increase caused when short sellers must buy ETH to cover their positions as they get liquidated. Such events can lead to sharp upward price movements as buying pressure compounds.

這造成了一個情況，價格飆升可能會引發“短暫的擠壓” - 當賣空者必須購買ETH以掩蓋其股份時，迅速上漲了。這樣的事件可以導致價格上漲，因為購買壓力化合物。

Technical analysts point to an interesting pattern forming on Ethereum’s monthly chart. ETH appears to be developing a hammer candlestick formation similar to what Bitcoin (BTC) displayed before its major rally in 2021. If this pattern completes and holds, it could signal bullish momentum ahead.

技術分析師指出，以太坊的每月圖表上形成了一種有趣的模式。 ETH似乎正在開發與比特幣（BTC）在2021年進行重大集會之前顯示的錘子燭台形成。如果這種模式完成並保持，則可能會向前方表示看漲的勢頭。

The comparison to Bitcoin’s 2021 price action suggests ETH could potentially target the $4,800 level, near its previous all-time high resistance from 2021, before possibly advancing toward $16,000 if following a similar percentage-based rally. However, if this pattern fails to complete and the monthly candle turns negative, ETH might test support levels around $2,150.

與比特幣的2021年價格行動的比較表明，ETH可能會以4,800美元的價格將其定位到2021年以前的有史以來高電阻，然後再晉升至16,000美元，如果遵循類似的基於百分比的集會。但是，如果這種模式無法完成，並且每月蠟燭變為負面，那麼ETH可能會測試支持水平約為2,150美元。

Adding another factor to the market equation, an original Ethereum investor from the 2015 ICO (Initial Coin Offering) has recently moved substantial funds to exchanges, likely for selling.

在市場方程式中增加了另一個因素，來自2015年ICO（初始硬幣產品）的原始以太坊投資者最近將大量資金轉移到了交易所，可能是出售的。

This “whale” deposited 3,046 ETH worth approximately $8.16 million to Kraken, following another transfer of 6,046 ETH worth about $16.34 million the previous day, according to blockchain monitoring service EyeOnChain.

根據區塊鏈監控服務Eyeonchain的數據，這款“鯨魚”存入了3,046座ETH，價值約816萬美元，此前另有6,046 ETH的轉移，價值約1634萬美元。

Another Ethereum ICO Whale Cashing Out!An old-school $ETH whale from the ICO era just deposited 3,046 ETH ($8.16M) to Kraken 10 hours ago. His cost basis? Just $0.31 per ETH! 🤯

ICO時代的另一條以太坊ICO鯨魚兌現了！10小時前，ICO時代的一條老式$ ETH鯨魚剛剛存入了3,046 ETH（816萬美元）。他的成本基礎？每個ETH僅$ 0.31！ 🤯

In the past 24 hours, he’s sold a total of 6,046 ETH ($16.34M). Now, he’s down to his last 1,024 ETH pic.twitter.com/K7mQKDDlup

在過去的24小時中，他總共售出了6,046張ETH（1634萬美元）。現在，他到了最後的1,024 eth pic.twitter.com/k7mqkddlup

— EyeOnChain 🔶 (@EyeOnChain) February 25, 2025

- 眼鏈🔶（@eyeonchain）2025年2月25日

What makes this move especially eye-catching is the investor’s cost basis of just $0.31 per ETH, representing an enormous profit despite recent market downturns. After these transactions, the investor reportedly retains only 1,024 ETH from their original holdings.

使這一舉動特別引人注目的是，投資者的成本基礎為每個ETH 0.31美元，儘管最近的市場低迷，但仍取得了巨大的利潤。據報導，在這些交易之後，投資者只保留了其原始股份的1,024款。

Large sell-offs from early adopters can sometimes prompt market concerns, as they may be interpreted as a lack of confidence from insiders who have been in the ecosystem since its beginning. Nevertheless, profit-taking after such massive gains is also a normal investment practice.

早期採用者的大量拋售有時可能會引起市場問題，因為它們可能被解釋為自一開始以來一直在生態系統中的內部人士缺乏信心。然而，在如此巨大的收益之後獲利也是正常的投資實踐。

The upcoming trading sessions will be crucial for determining ETH’s next major move. Market participants are closely watching whether the price will continue its downward trajectory toward the MakerDAO liquidation levels or if it will reverse course and potentially trigger the short squeeze by approaching $3,000.

即將舉行的交易課程對於確定ETH的下一個重大舉措至關重要。市場參與者正在密切關注價格是否會繼續向Makerdao清算水平的下降軌跡，還是會逆轉路線，並有可能通過接近3,000美元來觸發短暫的擠壓。

The next few days will be key for determining whether ETH follows the bearish path toward liquidations or if it can mount a recovery that would put pressure on the accumulated short positions. Either scenario could lead to heightened volatility in the short term.

接下來的幾天將是確定ETH是否遵循清算路徑的關鍵，還是可以安裝恢復，這會給累積的短位置施加壓力。兩種情況都可能在短期內導致波動率提高。