以太坊（ETH/USD）跌至1年低點，刪除了其價值的65％

以太坊（ETH/USD）跌至大約1460美元，在短短24小時內降低了7％，並加劇了一張殘酷的三個月幻燈片，該幻燈片已消除了其價值的65％。

Ethereum (ETH) price tumbled to around $1,460 on Thursday, sliding 7% in the past 24 hours and continuing a three-month rout that has seen it lose 65% of its value.

以太坊（ETH）的價格在周四跌至1,460美元左右，在過去的24小時內下滑了7％，並繼續進行了三個月的潰敗，這已經使其價值損失了65％。

The drop also took ETH below its 2018 market cycle peak, rolling back seven years of growth when comparing it to Bitcoin (BTC).

下降也使ETH低於其2018年市場週期峰值，在將比特幣（BTC）進行比較時，它的增長卻恢復了七年。

The ETH/BTC pair is now trading at 0.018, reaching its lowest point since December 2019. While often touted as the ‘second-largest cryptocurrency,’ ETH has only outperformed Bitcoin for about 15% of trading days since its 2015 launch. For five straight years, Bitcoin has led the performance race.

ETH/BTC對現在的交易價格為0.018，達到了自2019年12月以來的最低點。雖然經常被吹捧為“第二大加密貨幣”，但ETH自2015年推出以來的交易日期僅超過了比特幣。連續五年，比特幣領導了表演競賽。

Chart: TradingView

圖表：TradingView

Amid the market downturn, blockchain data reveals significant whale movements. One long-term Ethereum holder, who had been accumulating 10,000 ETH since late 2022 with an average entry price of $1,295, recently sold their entire stake.

在市場低迷中，區塊鏈數據顯示出重大的鯨魚運動。一位長期的以太坊持有人自2022年底以來一直積累了10,000 ETH，平均入場價為1,295美元，最近出售了他們的整個股份。

The sale realized a small profit at $1,678 per ETH. However, the whale missed the opportunity to sell when ETH soared to $4,000 in December, foregoing a potential gain of $27.6 million.

該銷售的利潤很小，每個ETH $ 1,678。但是，鯨魚在12月ETH飆升至4,000美元時錯過了銷售的機會，預示了2760萬美元的潛在收益。

Meanwhile, World Liberty Financial (WLF), a Donald Trump-affiliated crypto startup, reportedly offloaded 5,471 ETH for $8.01 million at a loss. The firm had purchased the tokens at an average price of $3,259.

同時，唐納德·特朗普（Donald Trump）隸屬的加密初創公司World Liberty Financial（WLF）以801萬美元的損失以801萬美元的價格卸載了5,471 ETH。該公司以3,259美元的平均價格購買了代幣。

The massive institutional sell-off comes as On-Chain metrics on Ethereum enter ‘capitulation’ zones.

大規模的機構拋售是因為以太坊上的鍊鍊指標進入“投降”區域。

Ethereum NUPL Enters Capitulation Zone Again- A Buying Opportunity?

Ethereum Nupl再次進入投降區 - 購買機會？

The Net Unrealized Profit/Loss (NUPL) indicator has dipped into the “capitulation” zone, where most holders are now sitting on losses. Historically, this zone has preceded major market rebounds, notably in March 2020 and June 2022.

淨未實現的盈利/損失（NUPL）指標已浸入“投降”區域，現在大多數持有人現在都遭受損失。從歷史上看，該區域已經進行了主要的市場籃板之前，尤其是在2020年3月和2022年6月。

ETH has also dropped below its “Realized Price,” which is the average acquisition cost of all coins in circulation, often indicating panic selling but also an accumulation opportunity for savvy investors.

ETH還低於其“實現價格”，這是所有流通中所有硬幣的平均收購成本，通常表明恐慌出售，但也是精明的投資者的積累機會。

Technical Analysis: Bearish Divergence Pattern Spotted

技術分析：看跌分歧模式被發現

Current ETH price action mirrors patterns seen during the 2018 and 2022 bear markets. Analysts at CryptoTotal identified a bearish divergence pattern—higher price highs but lower RSI highs—suggesting deteriorating momentum.

當前的ETH價格動作反映了2018年和2022年熊市中看到的模式。加密分析師確定了看跌的差異模式 - 價格高，但RSI高點較低 - 勢頭不斷惡化。

The RSI is still above oversold levels, which may indicate further downside potential for ETH in the short term.

RSI仍高於超售水平，這可能在短期內表明ETH的進一步下行潛力。

Fibonacci retracement zones and historical support levels place the potential bottom at the $990 to $1,240 range, aligning with the 0.618 to 0.786 retracement levels—often considered “golden” zones for reversals.

斐波那契回撤區和歷史支持水平將潛在的底部定為990美元至1,240美元的範圍，與0.618至0.786的回回頭水平保持一致，通常被認為是逆轉的“金”區。

Macro Factors Fuel Further Sharp Correction

宏觀因素進一步徹底校正

The sharp correction in Ethereum comes amid broader market weakness, partially attributed to the Trump administration’s recently enacted global tariffs.

以太坊的急劇糾正是在更廣泛的市場弱點之內出現的，部分歸因於特朗普政府最近頒布的全球關稅。

Despite the bearish sentiment, some technical indicators suggest Ethereum is nearing oversold levels—potentially setting the stage for a base to form. However, the timing and strength of any rebound remain uncertain.

儘管有看跌的情緒，但一些技術指標表明，以太坊正在接近超售的水平，這是為基地形成的舞台。但是，任何反彈的時機和力量仍然不確定。