以太坊的最初收益消失了

這種賣出壓力是由於多種因素，包括槓桿搖擺和斑點流出。

Ethereum’s initial gains for the year were completely wiped out on Saturday, sending the second-largest cryptocurrency down more than 4%. This sell pressure was due to multiple factors, including a leverage shake-down and outflows from crypto ETFs.

以太坊在周六完全消除了以太坊的最初收益，將第二大加密貨幣下降了4％以上。這種銷售壓力是由於多種因素造成的，包括槓桿搖動和加密ETF的流出。

Earlier in the week, there was a strong focus on the U.S. crypto ETFs, specifically highlighting the seventh consecutive day of inflows, reaching $128.7 million. This built upon the third consecutive day of inflows, totaling $346.4 million, on January 3rd.

在本週早些時候，人們非常關注美國加密ETF，特別是突出了連續第七天的流入，達到1.287億美元。這是基於1月3日連續第三天的流入，總計3.464億美元。

However, this may have given a false sense of optimism, setting the stage for a swift reversal. After pivoting to outflows, the world’s largest cryptocurrency ETFs saw a peak outflow of $235.66 million.

但是，這可能給人一種錯誤的樂觀感，為快速逆轉奠定了基礎。在轉向流出後，世界上最大的加密貨幣ETF的峰值流出了2.3566億美元。

In contrast, Bitcoin ETFs remained in the green in the last 24 hours, despite seven days of outflows from Ethereum ETFs. This may indicate a shift in cryptocurrency dominance.

相比之下，儘管以太坊ETF流出了7天，但在過去24小時內，比特幣ETF仍留在綠色中。這可能表明加密貨幣優勢的轉變。

Outflows from Ethereum ETFs amounted to $86.8 million on Saturday, aligning with the observation of negative spot flows on exchanges during the same period.

週六的以太坊ETF的流出量為8680萬美元，與同期交流的負面流量觀察一致。

Moreover, the sell pressure had a noticeable impact on Ethereum’s dominance ratio, which had rebounded to 12.87% over the weekend, following a period of decline from 13.35% on Friday.

此外，賣出壓力對以太坊的優勢比率產生了明顯的影響，以太坊的優勢比率在周五下降了一段時間，後者在周五的13.35％下降了。

Nevertheless, this recovery was quickly reversed, sending the ratio as low as 12.32%. However, Ethereum might attempt to regain higher dominance from its current level, as the same zone previously demonstrated support.

然而，這種恢復很快被逆轉，使該比率低至12.32％。但是，以太坊可能試圖從當前水平重新獲得更高的優勢，因為同一區域先前證明了支持。

Another factor that could be hindering a swift recovery for ETH is the significant increase in leveraged long liquidations, which has contributed to the sell pressure observed over the last two days.

可能阻礙ETH迅速恢復的另一個因素是槓桿率長的清算的顯著增加，這導致了過去兩天觀察到的賣出壓力。

The appetite for leverage has been growing in recent months, with long liquidations rising by over 700% since January 3rd. In total, more than $173 million worth of liquidations were observed in the last 24 hours.

近幾個月來，對槓桿的興趣一直在增長，自1月3日以來，清算量的長期增加了700％。在過去的24小時內，總共觀察到了價值超過1.73億美元的清算。

This suggests that the early January rally, which saw Bitcoin attempt to break above $17,000 and Ethereum rise toward $1,600, may have been a set-up for a final leverage shake-down.

這表明，一月初的集會使比特幣試圖在17,000美元中折扣，以太坊上漲至1,600美元，這可能是最終的槓桿動力降低的設置。

However, this narrative could be shifting as whales have been selling since the start of the year, but recent data shows them accumulating during the dip.

但是，由於鯨魚自年初以來一直在銷售，但這種敘述可能會發生變化，但最近的數據表明它們在浸入過程中積累。

While outflows were lower at 411,300 ETH on Saturday, January 7th, compared to the previous day, with a total of 341,000 ETH, the amount of ETH being sold by whales was significantly lower at 519,620 ETH.

1月7日（星期六）與前一天相比，流出量低於411,300 ETH，總計341,000 ETH，鯨魚出售的ETH數量顯著降低了519,620 ETH。

This observation suggests that whales might be aiding in a mid-week recovery for ETH, which slid to $1,440 on Saturday morning, having recovered slightly from the day’s lows of $1,420.

該觀察結果表明，鯨魚可能有助於ETH中期恢復，這在周六早上滑到了1,440美元，從當天的低點1,420美元的低點恢復過來。