以太坊（ETH）價格行動分析：關鍵水平要注意Eth導航到2025年的動蕩開端

以太坊（ETH）是市場資本化的第二大加密貨幣，到2025年的動蕩開端。

The second-largest cryptocurrency, Ethereum (ETH), has experienced a turbulent start to 2025, with its price movements sparking discussion among investors and analysts.

第二大加密貨幣以太坊（ETH）在2025年經歷了動蕩的開端，其價格變動引發了投資者和分析師之間的討論。

While ETH has seen a modest 2.80% gain over the past week, it remains locked in a bearish downtrend that began in December 2024.

儘管ETH在過去一周中的增長率為2.80％，但它仍然陷入了始於2024年12月的看跌下降趨勢。

Since reaching a peak of $4,100, ETH has plunged nearly 57%.

自從達到4,100美元的高峰以來，ETH跌幅近57％。

Ali Martinez, a prominent crypto market analyst, has identified crucial price levels that could determine whether Ethereum has completed its correction phase or if further downside awaits.

著名的加密市場分析師阿里·馬丁內斯（Ali Martinez）已經確定了至關重要的價格水平，這些價格水平可以確定以太坊是否已經完成了校正階段或是否進一步等待。

Moreover, large-scale sell-offs by Ethereum whales and significant outflows from Ethereum Spot Exchange-Traded Funds (ETFs) have added layers of uncertainty to ETH’s price action.

此外，以太坊鯨魚的大規模拋售以及以太坊現貨交易所交易基金（ETF）的大量流出為ETH的價格行動增加了不確定性的層面。

As institutional investors are increasingly integrating digital assets into their investment strategies, the role of ETFs in facilitating this shift is paramount.

隨著機構投資者越來越多地將數字資產整合到其投資策略中，ETF在促進這一轉變中的作用至關重要。

Ethereum’s Price Action: Downtrend Since December

以太坊的價格行動：自12月以來的下降趨勢

Since hitting a local high of $4,100 in December 2024, Ethereum has seen a steep correction.

自2024年12月的當地高點4,100美元以來，以太坊已經進行了陡峭的糾正。

The crypto is down 57% over four months.

加密貨幣在四個月內下降了57％。

According to Martinez, the number of Ethereum whales—wallets holding 10,000 ETH or more—has drastically dropped by 80% in recent months.

根據馬丁內斯（Martinez）的說法，近幾個月來，以太坊鯨魚的數量（持有10,000 ETH或更多）的Walleters大幅下降了80％。

This aligns with data from analytics firm Glassnode, which shows a significant decrease in the number of ETH 150k+ holders, highlighting large-scale sell-offs.

這與分析公司GlassNode的數據一致，該數據顯示ETH 150K+持有人的數量顯著減少，強調了大規模拋售。

In total, entities holding at least 100,000 ETH have liquidated a staggering 130,000 ETH.

總體而言，擁有至少100,000 ETH的實體已經清算了驚人的130,000 ETH。

This sustained selling pressure from large whales could be a key factor contributing to Ethereum’s prolonged downturn.

大鯨魚的持續銷售壓力可能是導致以太坊長期衰退的關鍵因素。

Ethereum Spot ETFs: Major Outflows Signal Declining Interest

以太坊斑點ETF：主要流出信號信號降低了興趣

In a concerning development, Ethereum Spot ETFs have faced notable withdrawals, which could further exacerbate the bearish sentiment.

在有關發展的有關發展中，以太坊斑點ETF面臨著顯著的戒斷，這可能進一步加劇了看跌的情緒。

As reported by Benzinga, major Ethereum ETFs, including those from Invesco (NYSE:IVZ), State Street (NYSE:STT), and Bitwise, have experienced a net outflow of $760 million over the past month.

正如本辛加（Benzinga）報導的那樣，包括來自Invesco（NYSE：IVZ），State Street（NYSE：STT）和BITWISE的少校ETRF，包括過去一個月的淨流出7.6億美元。

These outflows suggest that institutional investors are pulling funds out of these structured investment vehicles, indicating a declining interest in Ethereum-based financial products.

這些流出表明，機構投資者正在將資金從這些結構化投資工具中撤出，這表明對基於以太坊的金融產品的興趣下降。

However, despite these outflows, Harvest Bank (OTCMKTS:HBKNY) recently announced the approval of two new Ethereum ETFs, which could serve as a catalyst for fresh institutional capital inflows into the crypto market.

但是，儘管有這些流出，但Harvest Bank（OTCMKTS：HBKNY）最近宣布了兩個新的以太坊ETF的批准，這些ETF可以作為新的機構資本流入進入加密貨幣市場的催化劑。

Whale Behavior: Accumulation vs. Distribution

鯨魚行為：積累與分佈

The role of whales in Ethereum’s price action is crucial. While many large holders have sold off substantial amounts of ETH, some have used the lower prices to accumulate more tokens.

鯨魚在以太坊的價格行動中的作用至關重要。儘管許多大型持有人已經出售了大量的ETH，但有些人使用較低的價格積累了更多的令牌。

This duality in whale behavior is evident in on-chain data. For instance, one particular Standard Chartered (OTC:SCPYF) ultra-high-net-worth investor was spotted making a strategic buy of 1,000 ETH at a critical support level.

鯨魚行為的這種雙重性在鏈上數據中很明顯。例如，發現了一個特定的標準特許（OTC：SCPYF）超高淨值投資者在關鍵的支持水平上進行戰略性購買1,000 ETH的戰略性。

This signals this specific investor’s confidence in Ethereum’s long-term value.

這表明該特定投資者對以太坊的長期價值的信心。

Key Price Levels: What to Watch for Ethereum’s Recovery

關鍵價格水平：以太坊恢復的觀察

Market analysts, like Martinez, have identified key price levels that will determine Ethereum’s next move.

像馬丁內斯（Martinez）這樣的市場分析師已經確定了關鍵價格水平，這將決定以太坊的下一步行動。

One critical support level to watch is $2,050. If ETH fails to maintain this level, analysts warn of a potential further drop to $1,000.

值得關注的一個關鍵支持水平是$ 2,050。如果ETH無法維持此水平，分析師會警告潛在的進一步降至1,000美元。

This scenario would erase most of the gains made in the last bull run, setting up a new bull cycle from lower highs.

這種情況將消除上一次公牛奔跑中大部分的收益，從低點建立新的牛週期。

However, a decisive move above $2,500 could indicate renewed bullish momentum.

但是，果斷的舉動超過2500美元，可能表明新看漲的勢頭。

For long-term investors, these price movements present both risks and opportunities, depending on their market outlook and investment horizon.

對於長期投資者而言，這些價格變動會帶來風險和機遇，具體取決於其市場前景和投資範圍。

Broader Market Trends: Institutional Adoption vs. Regulatory Challenges

更廣泛的市場趨勢：機構採用與監管挑戰

Beyond whale activity and ETF flows, broader market trends will shape Ethereum’s trajectory in 2025.

除了鯨魚活動和ETF流，更廣泛的市場趨勢還將在2025年塑造以太坊的軌跡。

Institutional adoption remains a critical factor, with major financial players like Visa (NYSE:V), Mastercard (NYSE:MA), and JPMorgan Chase (NYSE:JPM) actively exploring blockchain-based solutions.

機構採用仍然是一個關鍵因素，例如Visa（NYSE：V），MasterCard（NYSE：MA）和JPMORGAN CHASE（NYSE：JPM）等主要財務參與者積極探索基於區塊鏈的解決方案。

Recent developments, such as the approval of Bitcoin (BTC) Spot ETFs and the SEC’s scrutiny of crypto projects, will also have implications for Ethereum.

最近的發展，例如比特幣（BTC）ETF的批准以及SEC對加密項目的審查，也將對以太坊有影響。

The recent approval of several Bitcoin Spot ETFs, like those from Invesco, State Street, and Bitwise, has sparked hope that similar applications for Ethereum could follow suit.

像Invesco，State Street和Bitwise的幾個比特幣現場ETF最近獲得了批准，這激發了人們的希望，即以太坊的類似申請可能會效仿。

This could lead to a significant influx of institutional capital into the crypto market.

這可能會導致大量機構資本湧入加密貨幣市場。

However, the SEC’s ongoing investigation into several crypto projects and DeFi platforms, as well as the regulator’s stance on crypto derivatives, presents a risk factor that investors must consider.

但是，SEC對幾個加密項目和DEFI平台以及監管機構對加密衍生品的立場進行了持續的調查，提出了投資者必須考慮的危險因素。

Crucially, regulatory clarity will be pivotal in determining whether Ethereum can break free from its current bearish cycle and stellar.

至關重要的是，調節性清晰度在確定以太坊是否可以擺脫其目前的看跌週期和出色的情況下將是關鍵的。

The Future of Ethereum: A Bullish or Bear

以太坊的未來：看漲或熊