以太坊（ETH）面临着清算风险和潜在的短挤压，因为价格在24小时内下降了11.5％

以太坊（ETH）在过去的24小时中下跌了11.5％，至2,390美元左右，这使它走上了潜在的大规模清算的道路

Ethereum (ETH) has fallen 11.5% over the past 24 hours to around $2,390, continuing its slide toward potential large-scale liquidations while simultaneously setting up conditions for a possible short squeeze if prices reverse course.

以太坊（ETH）在过去的24小时内下跌了11.5％，至2,390美元左右，继续向潜在的大规模清算，同时设置条件，如果价格倒转，则可能会短暂挤压。

Three major MakerDAO positions, collectively worth $340 million, now face liquidation if ETH’s price drops below key thresholds, data from on-chain analytics platforms shows. These positions will trigger liquidations at $1,926, $1,842, and $1,793 respectively, with each position valued between $109 million and $126 million. For these liquidations to occur, ETH would need to fall another 19% from current levels.

链分析平台的数据显示，如果ETH的价格下跌以下，则三个主要的Makerdao职位，总值3.4亿美元，现在面临着清算。这些职位将分别触发1,926美元，1,842美元和1,793美元的清算，每个职位价值在1.09亿美元至1.26亿美元之间。对于这些清算，ETH将需要从当前水平下降19％。

The recent price drop has already caused $296 million worth of ETH positions to be liquidated on centralized exchanges in just the past day, according to data from CoinGlass. This comes as part of a market-wide sell-off affecting not only cryptocurrencies but also global equities.

根据Coinglass的数据，最近的价格下跌已经导致价值2.96亿美元的ETH职位在集中式交流中清算。这是全市场抛售的一部分，不仅影响加密货币，而且影响全球股票。

ETH’s current price represents a 42% decline since December 16, a steeper drop than typically seen even in bull market corrections, which usually max out around 30% before resuming upward momentum. These pullbacks often serve to remove over-leveraged positions from the market.

ETH的当前价格自12月16日起下降了42％，即使在牛市校正中，通常比通常看到的急剧下降，通常在恢复向上势头之前最大约30％。这些回调通常可以消除市场上的过度杠杆位置。

On the opposite side of the spectrum, Exchange Liquidation Map data reveals a large accumulation of short positions that would face liquidation if ETH’s price moves upward instead. Reports indicate more than $2 billion in ETH shorts would be liquidated if the price reaches $3,000.

在频谱的另一侧，交换清算图数据显示，如果ETH的价格向上移动，则大量的短位置积累。报告表明，如果价格达到3,000美元，将清算超过20亿美元的ETH短裤。

This creates a situation where a price surge could trigger a “short squeeze” – a rapid price increase caused when short sellers must buy ETH to cover their positions as they get liquidated. Such events can lead to sharp upward price movements as buying pressure compounds.

这造成了一个情况，价格飙升可能会引发“短暂的挤压” - 当卖空者必须购买ETH以掩盖其股份时，迅速上涨了。这样的事件可以导致价格上涨，因为购买压力化合物。

Technical analysts point to an interesting pattern forming on Ethereum’s monthly chart. ETH appears to be developing a hammer candlestick formation similar to what Bitcoin (BTC) displayed before its major rally in 2021. If this pattern completes and holds, it could signal bullish momentum ahead.

技术分析师指出，以太坊的每月图表上形成了一种有趣的模式。 ETH似乎正在开发与比特币（BTC）在2021年进行重大集会之前显示的锤子烛台形成。如果这种模式完成并保持，则可能会向前方表示看涨的势头。

The comparison to Bitcoin’s 2021 price action suggests ETH could potentially target the $4,800 level, near its previous all-time high resistance from 2021, before possibly advancing toward $16,000 if following a similar percentage-based rally. However, if this pattern fails to complete and the monthly candle turns negative, ETH might test support levels around $2,150.

与比特币的2021年价格行动的比较表明，ETH可能会以4,800美元的价格将其定位到2021年以前的有史以来高电阻，然后再晋升至16,000美元，如果遵循类似的基于百分比的集会。但是，如果这种模式无法完成，并且每月蜡烛变为负面，那么ETH可能会测试支持水平约为2,150美元。

Adding another factor to the market equation, an original Ethereum investor from the 2015 ICO (Initial Coin Offering) has recently moved substantial funds to exchanges, likely for selling.

在市场方程式中增加了另一个因素，来自2015年ICO（初始硬币产品）的原始以太坊投资者最近将大量资金转移到了交易所，可能是出售的。

This “whale” deposited 3,046 ETH worth approximately $8.16 million to Kraken, following another transfer of 6,046 ETH worth about $16.34 million the previous day, according to blockchain monitoring service EyeOnChain.

根据区块链监控服务Eyeonchain的数据，这款“鲸鱼”存入了3,046座ETH，价值约816万美元，此前另有6,046 ETH的转移，价值约1634万美元。

Another Ethereum ICO Whale Cashing Out!An old-school $ETH whale from the ICO era just deposited 3,046 ETH ($8.16M) to Kraken 10 hours ago. His cost basis? Just $0.31 per ETH! 🤯

ICO时代的另一条以太坊ICO鲸鱼兑现了！10小时前，ICO时代的一条老式$ ETH鲸鱼刚刚存入了3,046 ETH（816万美元）。他的成本基础？每个ETH仅$ 0.31！ 🤯

In the past 24 hours, he’s sold a total of 6,046 ETH ($16.34M). Now, he’s down to his last 1,024 ETH pic.twitter.com/K7mQKDDlup

在过去的24小时中，他总共售出了6,046张ETH（1634万美元）。现在，他到了最后的1,024 eth pic.twitter.com/k7mqkddlup

— EyeOnChain 🔶 (@EyeOnChain) February 25, 2025

- 眼链🔶（@eyeonchain）2025年2月25日

What makes this move especially eye-catching is the investor’s cost basis of just $0.31 per ETH, representing an enormous profit despite recent market downturns. After these transactions, the investor reportedly retains only 1,024 ETH from their original holdings.

使这一举动特别引人注目的是，投资者的成本基础为每个ETH 0.31美元，尽管最近的市场低迷，但仍取得了巨大的利润。据报道，在这些交易之后，投资者只保留了其原始股份的1,024款。

Large sell-offs from early adopters can sometimes prompt market concerns, as they may be interpreted as a lack of confidence from insiders who have been in the ecosystem since its beginning. Nevertheless, profit-taking after such massive gains is also a normal investment practice.

早期采用者的大量抛售有时可能会引起市场问题，因为它们可能被解释为自一开始以来一直在生态系统中的内部人士缺乏信心。然而，在如此巨大的收益之后获利也是正常的投资实践。

The upcoming trading sessions will be crucial for determining ETH’s next major move. Market participants are closely watching whether the price will continue its downward trajectory toward the MakerDAO liquidation levels or if it will reverse course and potentially trigger the short squeeze by approaching $3,000.

即将举行的交易课程对于确定ETH的下一个重大举措至关重要。市场参与者正在密切关注价格是否会继续向Makerdao清算水平的下降轨迹，还是会逆转路线，并有可能通过接近3,000美元来触发短暂的挤压。

The next few days will be key for determining whether ETH follows the bearish path toward liquidations or if it can mount a recovery that would put pressure on the accumulated short positions. Either scenario could lead to heightened volatility in the short term.

接下来的几天将是确定ETH是否遵循清算路径的关键，还是可以安装恢复，这会给累积的短位置施加压力。两种情况都可能在短期内导致波动率提高。