以太坊（ETH）價格行動引發辯論，因為資產仍處於壓力下

市場數據顯示，ETH在12小時內已下跌了近16％。自2023年10月以來，它首次將其短暫降至1,800美元以下。

Ethereum’s price action has sparked intense debate among traders, as the asset remains under pressure following a turbulent first quarter of 2025.

以太坊的價格行動引發了交易者激烈的辯論，因為在2025年第一季度動盪不安之後，資產仍處於壓力下。

Market data shows ETH has fallen nearly 16% over 12 hours. It briefly dipped below $1,800 for the first time since October 2023. Analysts now warn that the next move could determine Ethereum’s trajectory for the coming months.

市場數據顯示，ETH在12小時內已下跌了近16％。自2023年10月以來，它首次將其短暫降至1,800美元以下。分析師現在警告說，下一步可以決定以太坊在未來幾個月內的軌跡。

Crypto market capitalization has also taken a hit, dropping by $240 billion in a single day. This erased all gains made since the U.S. elections, pushing total market value down to $2.6 trillion.

加密市值也受到了打擊，一天中下降了2400億美元。這消除了自美國大選以來的所有收益，將總市場價值降低到2.6萬億美元。

With Ethereum leading the losses among top altcoins, questions arise over whether the asset is nearing its bottom or preparing for further declines.

由於以太坊帶來了頂級山寨幣之間的損失，因此對於資產即將接近其底層還是準備進一步下降的問題出現了問題。

This analysis delves into the technical patterns, institutional demand indicators, and network disruptions that are shaping Ethereum’s price trends and broader implications for the cryptocurrency market.

該分析深入研究了技術模式，機構需求指標和網絡中斷，這些破壞正在塑造以太坊的價格趨勢和對加密貨幣市場的更廣泛影響。

Institutional participation in Ethereum appears to be weakening, as the Coinbase Premium Index remains negative. This indicates ETH is trading at a discount on Coinbase compared to Binance, signaling lower appetite from institutional and retail traders in the U.S.

由於Coinbase Premium指數仍然負面，因此在以太坊中的機構參與似乎正在減弱。這表明ETH與Binance相比，ETH的交易價格折扣，表明美國的機構和零售商人的胃口較低

Historically, extended periods of negative Coinbase Premium values have aligned with price downturns, reinforcing the bearish outlook. For Ethereum to regain bullish momentum, the index must turn positive, reflecting renewed accumulation from major buyers.

從歷史上看，負面co鍵的較長時期與價格下降相一致，從而增強了看跌前景。為了使以太坊恢復看漲勢頭，該指數必須變為積極，這反映了主要買家的新積累。

This aligns with the analysis from analyst @0xQuit, who is questioning whether ETH is at the start of a bear market or approaching its bottom.

這與分析師 @0xQuit的分析保持一致，後者質疑ETH是在熊市的開始還是接近其底部。

"That seems reasonable given the pain we’ve seen," the analyst stated.

這位分析師說：“考慮到我們看到的痛苦，這似乎是合理的。”

Should Ethereum fail to reclaim key resistance levels, forecasts of deeper losses to $1,500—or even as low as $200 to $400—could come into play. This would mimick previous bear market cycles that saw ETH lose over 90% of its value.

如果以太坊未能恢復關鍵阻力水平，預測將對1,500美元的更深層損失（即使低至200美元至400美元）的預測可能會發揮作用。這將模仿以前的熊市週期，這使ETH損失了其價值的90％以上。