隨著市場預期山寨幣反彈，以太幣 (ETH) 預計在 2025 年初表現出色

MN Capital 創辦人 Michael van de Poppe 預計，以 ETH/BTC 比率衡量的 ETH 相對於 BTC 的相對強度可能會突破 0.04，這是自 2024 年 12 月以來從未見過的水平。

renowned cryptocurrency technical analyst Michael van de Poppe has shared his insights on Ethereum's promising outlook. According to him, ETH's relative strength against BTC, measured by the ETH/BTC ratio, could propel the ratio to break through the 0.04 level — a height last seen by the ratio in December 2024. This development is setting the stage for a bullish move for Ethereum, which could potentially catalyze an "altcoin run."

著名加密貨幣技術分析師 Michael van de Poppe 分享了他對以太坊前景的見解。據他稱，以ETH/BTC 比率衡量的ETH 相對於BTC 的相對強勢可能會推動該比率突破0.04 的水平——該比率上次達到的高度是在2024 年12 月。基礎對於以太坊來說，這可能會引發「山寨幣擠兌」。

Historical Performance Signals Positive Momentum

歷史表現預示著積極的勢頭

A glance at Ethereum's historical performance in Q1 reveals its potential for substantial gains. Based on data from Coinglass, ETH has clocked an average increase of 92% in Q1 since 2017, with January alone contributing an average of 23% to the overall growth. This historical performance sets a strong precedent for optimism regarding early 2025 price activity.

縱觀以太坊第一季的歷史表現，就會發現其大幅上漲的潛力。根據 Coinglass 的數據，自 2017 年以來，ETH 第一季平均成長了 92%，光是 1 月就平均貢獻了 23​​% 的整體成長。這段歷史表現為 2025 年初價格活動的樂觀情緒奠定了良好的先例。

Moreover, Ethereum's current market behavior also hints at its upward trajectory. As of late December, the ETH/BTC ratio surged by 3.26% over 30 days, while ETH hovered around $3,472. Bitcoin, on the other hand, traded slightly below its record-breaking six-figure milestone at $98,805, as reported by CoinMarketCap.

此外，以太坊當前的市場行為也暗示了其上漲軌跡。截至 12 月底，ETH/BTC 比率在 30 天內飆升 3.26%，而 ETH 則徘徊在 3,472 美元附近。另一方面，根據 CoinMarketCap 報道，比特幣的交易價格略低於其破紀錄的六位數里程碑 98,805 美元。

Institutional Adoption and ETF Trends

機構採用和 ETF 趨勢

Another factor contributing to Ethereum's promising outlook is the growing institutional interest in spot Ether exchange-traded funds (ETFs). According to Nate Geraci, president of The ETF Store, the net inflows into ETH ETFs are keeping pace with those into gold ETFs, indicating a shift toward Ethereum among institutional investors. He anticipates that these inflows will accelerate as 2025 progresses.

以太坊前景光明的另一個因素是機構對現貨以太幣交易所交易基金（ETF）的興趣日益濃厚。 The ETF Store 總裁 Nate Geraci 表示，ETH ETF 的淨流入與黃金 ETF 的淨流入保持同步，這表明機構投資者正在轉向以太坊。他預計，隨著 2025 年的進展，這些資金流入將會加速。

This trend is particularly significant given the dynamic nature of the cryptocurrency market. Spot ETFs offer investors a simplified and efficient way to gain exposure to assets like ETH, promoting wider adoption and increased market liquidity. As a result, analysts suggest that the growing institutional demand for ETH ETFs could eventually outpace that for Bitcoin ETFs, especially considering Ethereum's diverse applications and versatile ecosystem.

考慮到加密貨幣市場的動態性質，這一趨勢尤其重要。現貨 ETF 為投資者提供了一種簡單而有效的方式來獲得 ETH 等資產的投資，從而促進更廣泛的採用並增加市場流動性。因此，分析師認為，機構對 ETH ETF 不斷增長的需求最終可能會超過比特幣 ETF，特別是考慮到以太坊的多樣化應用和多功能生態系統。

Catalysts for an Altcoin Rally

山寨幣反彈的催化劑

An increase in Ethereum's relative strength might lead to Bitcoin price consolidation, redirecting inflows toward Ethereum and altcoins within its ecosystem. This shift could benefit several tokens, including Shiba Inu (SHIB) and Mantle (MNT), which recently posted gains of 7.1% and 3.3%, respectively, against the backdrop of broader market gains.

以太坊相對實力的增強可能會導致比特幣價格整合，將資金流向其生態系統內的以太坊和山寨幣。這一轉變可能有利於多種代幣，包括 Shiba Inu (SHIB) 和 Mantle (MNT)，在大盤上漲的背景下，它們最近分別上漲了 7.1% 和 3.3%。

Additionally, Ethereum's network advancements position it as a leader among altcoins. Upgrades under Ethereum 2.0 aim to improve scalability, energy efficiency, and transaction speeds, making the network more attractive to both developers and investors. These technological improvements may reinforce Ethereum's market dominance and stimulate broader ecosystem growth.

此外，以太坊的網路進步使其成為山寨幣中的領導者。以太坊 2.0 的升級旨在提高可擴展性、能源效率和交易速度，使網路對開發商和投資者更具吸引力。這些技術改進可能會加強以太坊的市場主導地位並刺激更廣泛的生態系統成長。

Staying Informed Amid Cryptocurrency Volatility

在加密貨幣波動中保持資訊靈通

While Ethereum's prospects are promising, analysts emphasize the need to consider potential risks. Macroeconomic uncertainties, regulatory developments, and market volatility could impact cryptocurrency performance. For instance, tightening global monetary policies or unfavorable legislative changes might temper bullish momentum.

雖然以太坊的前景充滿希望，但分析師強調需要考慮潛在風險。宏觀經濟不確定性、監管發展和市場波動可能會影響加密貨幣的表現。例如，全球貨幣政策收緊或不利的立法變化可能會削弱看漲勢頭。

However, long-term Ethereum advocates are optimistic about the cryptocurrency's future. Pseudonymous trader Brent recently described ETH as "the most under-owned asset in the world," highlighting its potential for further appreciation. Similarly, Into The Cryptoverse founder Benjamin Cowen predicts that ETH's underperformance against BTC may soon reverse, paving the way for stronger price action over the next six to twelve months.

然而，以太坊的長期支持者對加密貨幣的未來持樂觀態度。匿名交易員布倫特最近將 ETH 描述為“世界上最被低估的資產”，強調了其進一步升值的潛力。同樣，Into The Cryptoverse 創辦人 Benjamin Cowen 預測，ETH 相對於 BTC 的表現不佳可能很快就會逆轉，為未來六到十二個月內更強勁的價格走勢鋪平道路。