随着 ETH/BTC 货币对触及 2021 年低点，以太坊 (ETH) 积累趋势加剧

以太坊（ETH）在3000美元大关上方经历了一段相对稳定的时期，但近期ETH/BTC货币对的波动引起了投资者的关注。

As Ethereum (ETH) price action hovers above the $3,000 mark, recent fluctuations in the ETH/BTC pair have not gone unnoticed by investors. With the ETH/BTC pair hitting its lowest level since 2021, traders in key markets like Korea and the U.S. are presented with an opportunity to buy Ethereum, a move that seems to be driven by the belief that the token is currently undervalued. This, coupled with bullish activity from derivative traders, suggests that Ethereum’s future price movement may be on the cusp of a breakout.

随着以太坊 (ETH) 价格走势徘徊在 3,000 美元大关之上，投资者并没有忽视 ETH/BTC 货币对近期的波动。随着 ETH/BTC 货币对触及 2021 年以来的最低水平，韩国和美国等主要市场的交易者有机会购买以太坊，此举似乎是由于认为该代币目前被低估。再加上衍生品交易商的看涨活动，表明以太坊未来的价格走势可能正处于突破的边缘。

The significance of the ETH/BTC drop cannot be overstated. This pair measures the value of Ethereum relative to Bitcoin, and it has recently dipped to its lowest point in over three years, falling below 0.03221. This signals a decline in the relative value of ETH when compared to BTC, which has seen a dramatic rise in price, recently surpassing $97,000 for the first time in history.

ETH/BTC 下跌的重要性怎么强调都不为过。该货币对衡量以太坊相对于比特币的价值，最近已跌至三年多来的最低点，跌破 0.03221。这表明与 BTC 相比，ETH 的相对价值有所下降，BTC 的价格大幅上涨，最近历史上首次突破 97,000 美元。

This decline in the ETH/BTC ratio can be interpreted in two ways. On one hand, Bitcoin’s surge could indicate a market shift towards Bitcoin, with liquidity flowing out of Ethereum and into BTC. As Bitcoin’s dominance continues to grow, investors may prioritize BTC over ETH, potentially leading to further declines in Ethereum’s price relative to Bitcoin.

ETH/BTC 比率的下降可以用两种方式来解释。一方面，比特币的飙升可能表明市场正在转向比特币，流动性从以太坊流出并流入比特币。随着比特币的主导地位持续增长，投资者可能会优先考虑比特币而不是以太坊，这可能导致以太坊相对于比特币的价格进一步下跌。

However, another interpretation is that the drop in the ETH/BTC pair presents a buying opportunity for those who believe Ethereum is currently undervalued. The latter view seems to be gaining traction, as AMBCrypto’s analysis indicates that buying activity in Ethereum has increased despite the drop in its relative value. Many investors see this as an opportunity to buy ETH at a discount, with the belief that it could rebound strongly once the market’s focus shifts back to Ethereum.

然而，另一种解释是，ETH/BTC 货币对的下跌为那些认为以太坊目前被低估的人提供了买入机会。后一种观点似乎越来越受欢迎，因为 AMBCrypto 的分析表明，尽管以太坊的相对价值有所下降，但以太坊的购买活动却有所增加。许多投资者认为这是一个折价购买 ETH 的机会，相信一旦市场焦点重新转向以太坊，它可能会强劲反弹。

Recent data highlights strong accumulation activity from investors, particularly in South Korea and the United States. Both countries have seen increased buying pressure, which is reflected in the Korean Premium Index and the Coinbase Premium Index. These indices measure the price difference between major exchanges in each region and the broader market.

最近的数据凸显了投资者的强劲增持活动，特别是在韩国和美国。这两个国家的购买压力都在增加，这反映在韩国溢价指数和 Coinbase 溢价指数中。这些指数衡量每个地区主要交易所与更广泛市场之间的价格差异。

Currently, the Korean Premium Index stands at 1.37, and the Coinbase Premium Index is at 0.0073, both of which suggest that investors in these regions are actively accumulating ETH. When these indices rise above 1, it typically signals strong buying sentiment. The sustained buying activity from these key regions could fuel Ethereum’s recovery and drive the token toward new highs.

目前，韩国溢价指数为1.37，Coinbase溢价指数为0.0073，这两者都表明这些地区的投资者正在积极积累ETH。当这些指数升至 1 以上时，通常表明购买情绪强劲。这些关键地区的持续购买活动可能会推动以太坊的复苏，并推动该代币创下新高。

If this trend continues, the buying momentum could push Ethereum’s price up, possibly reversing its recent dip and sending it toward higher levels.

如果这种趋势持续下去，购买势头可能会推高以太坊的价格，可能会扭转近期的下跌趋势，并将其推向更高的水平。

Another key factor contributing to the growing bullish outlook on Ethereum is the activity in the derivatives market. CryptoQuant data shows that derivative traders are increasingly aligning with the buying trend. Specifically, the Funding Rate—which tracks the balance between long and short positions in Ethereum Futures—has been favoring long positions at press time. This indicates that traders expect Ethereum to rise from its current price level, further strengthening the case for a potential upward move.

导致以太坊前景日益看涨的另一个关键因素是衍生品市场的活动。 CryptoQuant 数据显示，衍生品交易者越来越符合购买趋势。具体来说，追踪以太坊期货多头头寸和空头头寸之间平衡的资金利率截至发稿时一直有利于多头头寸。这表明交易者预计以太坊将从当前价格水平上涨，进一步强化了潜在上涨的理由。

Moreover, the Taker Buy/Sell Ratio, which measures the volume of buy versus sell orders from market participants, has surged to its highest point of the month, surpassing 1.0486. A ratio above 1 signals that there is more buying activity than selling, reinforcing the bullish sentiment among traders.

此外，衡量市场参与者的买入与卖出订单量的 Taker 买入/卖出比率已飙升至本月最高点，超过 1.0486。比率高于 1 表明买入活动多于卖出活动，从而强化了交易者的看涨情绪。

These positive trends in the derivatives market further support the notion that Ethereum could be poised for a rebound. With strong demand from both retail investors in key markets and institutional players in the derivatives space, Ethereum may have the momentum it needs to break through recent resistance levels and move higher.

衍生品市场的这些积极趋势进一步支持了以太坊可能会反弹的观点。由于主要市场的散户投资者和衍生品领域的机构参与者都有强劲的需求，以太坊可能拥有突破近期阻力位并走高所需的动力。

Ethereum’s price action in recent weeks has been a mix of stability and volatility. Despite a modest 2.15% decline over the past week, ETH has managed to remain above the $3,000 mark, reflecting its resilience even in the face of a shifting market.

以太坊最近几周的价格走势既稳定又波动。尽管过去一周小幅下跌 2.15%，但 ETH 仍设法保持在 3,000 美元大关之上，反映出即使面对市场变化，其仍具有韧性。

Looking ahead, the key question is whether Ethereum can reclaim some of its lost ground in the ETH/BTC pair. With Bitcoin’s dominance growing, it remains to be seen whether Ethereum can rally strongly enough to shift investor sentiment back in its favor. However, the increasing accumulation from investors in South Korea and the U.S., combined with positive trends in the derivatives market, suggests that Ethereum has a strong foundation for growth in the near term.

展望未来，关键问题是以太坊能否收复 ETH/BTC 货币对的部分失地。随着比特币的主导地位不断增强，以太坊是否能够强劲反弹以将投资者情绪重新转向对它有利的方向还有待观察。然而，韩国和美国投资者的不断积累，加上衍生品市场的积极趋势，表明以太坊在短期内拥有坚实的增长基础。

While the ETH/BTC pair’s drop may raise some concerns, the current market conditions also present a unique buying opportunity for investors who view Ethereum as undervalued. The rise in buying activity, particularly from key markets like South Korea and the U.S., signals growing confidence in Ethereum’s long-term potential. Additionally, the bullish sentiment in the derivatives market further supports the notion that Ethereum is poised for a potential rebound.

虽然 ETH/BTC 货币对的下跌可能会引起一些担忧，但当前的市场状况也为认为以太坊被低估的投资者提供了独特的买入机会。购买活动的增加，尤其是来自韩国和美国等主要市场的购买活动的增加，标志着人们对以太坊长期潜力的信心不断增强。此外，衍生品市场的看涨情绪进一步支持了以太坊有望反弹的观点。

If this buying pressure continues to build, Ethereum could see significant upward movement in the coming weeks, potentially reclaiming its previous highs and improving its standing in the ETH/BTC pair. For investors looking

如果这种购买压力继续增加，以太坊可能会在未来几周内出现大幅上涨，有可能恢复之前的高点并改善其在 ETH/BTC 货币对中的地位。对于寻找的投资者