以太坊（ETH）价格行动分析：关键水平要注意Eth导航到2025年的动荡开端

以太坊（ETH）是市场资本化的第二大加密货币，到2025年的动荡开端。

The second-largest cryptocurrency, Ethereum (ETH), has experienced a turbulent start to 2025, with its price movements sparking discussion among investors and analysts.

第二大加密货币以太坊（ETH）在2025年经历了动荡的开端，其价格变动引发了投资者和分析师之间的讨论。

While ETH has seen a modest 2.80% gain over the past week, it remains locked in a bearish downtrend that began in December 2024.

尽管ETH在过去一周中的增长率为2.80％，但它仍然陷入了始于2024年12月的看跌下降趋势。

Since reaching a peak of $4,100, ETH has plunged nearly 57%.

自从达到4,100美元的高峰以来，ETH跌幅近57％。

Ali Martinez, a prominent crypto market analyst, has identified crucial price levels that could determine whether Ethereum has completed its correction phase or if further downside awaits.

著名的加密市场分析师阿里·马丁内斯（Ali Martinez）已经确定了至关重要的价格水平，这些价格水平可以确定以太坊是否已经完成了校正阶段或是否进一步等待。

Moreover, large-scale sell-offs by Ethereum whales and significant outflows from Ethereum Spot Exchange-Traded Funds (ETFs) have added layers of uncertainty to ETH’s price action.

此外，以太坊鲸鱼的大规模抛售以及以太坊现货交易所交易基金（ETF）的大量流出为ETH的价格行动增加了不确定性的层面。

As institutional investors are increasingly integrating digital assets into their investment strategies, the role of ETFs in facilitating this shift is paramount.

随着机构投资者越来越多地将数字资产整合到其投资策略中，ETF在促进这一转变中的作用至关重要。

Ethereum’s Price Action: Downtrend Since December

以太坊的价格行动：自12月以来的下降趋势

Since hitting a local high of $4,100 in December 2024, Ethereum has seen a steep correction.

自2024年12月的当地高点4,100美元以来，以太坊已经进行了陡峭的纠正。

The crypto is down 57% over four months.

加密货币在四个月内下降了57％。

According to Martinez, the number of Ethereum whales—wallets holding 10,000 ETH or more—has drastically dropped by 80% in recent months.

根据马丁内斯（Martinez）的说法，近几个月来，以太坊鲸鱼的数量（持有10,000 ETH或更多）的Walleters大幅下降了80％。

This aligns with data from analytics firm Glassnode, which shows a significant decrease in the number of ETH 150k+ holders, highlighting large-scale sell-offs.

这与分析公司GlassNode的数据一致，该数据显示ETH 150K+持有人的数量显着减少，强调了大规模抛售。

In total, entities holding at least 100,000 ETH have liquidated a staggering 130,000 ETH.

总体而言，拥有至少100,000 ETH的实体已经清算了惊人的130,000 ETH。

This sustained selling pressure from large whales could be a key factor contributing to Ethereum’s prolonged downturn.

大鲸鱼的持续销售压力可能是导致以太坊长期衰退的关键因素。

Ethereum Spot ETFs: Major Outflows Signal Declining Interest

以太坊斑点ETF：主要流出信号信号降低了兴趣

In a concerning development, Ethereum Spot ETFs have faced notable withdrawals, which could further exacerbate the bearish sentiment.

在有关发展的有关发展中，以太坊斑点ETF面临着显着的戒断，这可能进一步加剧了看跌的情绪。

As reported by Benzinga, major Ethereum ETFs, including those from Invesco (NYSE:IVZ), State Street (NYSE:STT), and Bitwise, have experienced a net outflow of $760 million over the past month.

正如本辛加（Benzinga）报道的那样，包括来自Invesco（NYSE：IVZ），State Street（NYSE：STT）和BITWISE的少校ETRF，包括过去一个月的净流出7.6亿美元。

These outflows suggest that institutional investors are pulling funds out of these structured investment vehicles, indicating a declining interest in Ethereum-based financial products.

这些流出表明，机构投资者正在将资金从这些结构化投资工具中撤出，这表明对基于以太坊的金融产品的兴趣下降。

However, despite these outflows, Harvest Bank (OTCMKTS:HBKNY) recently announced the approval of two new Ethereum ETFs, which could serve as a catalyst for fresh institutional capital inflows into the crypto market.

但是，尽管有这些流出，但Harvest Bank（OTCMKTS：HBKNY）最近宣布了两个新的以太坊ETF的批准，这些ETF可以作为新的机构资本流入进入加密货币市场的催化剂。

Whale Behavior: Accumulation vs. Distribution

鲸鱼行为：积累与分布

The role of whales in Ethereum’s price action is crucial. While many large holders have sold off substantial amounts of ETH, some have used the lower prices to accumulate more tokens.

鲸鱼在以太坊的价格行动中的作用至关重要。尽管许多大型持有人已经出售了大量的ETH，但有些人使用较低的价格积累了更多的令牌。

This duality in whale behavior is evident in on-chain data. For instance, one particular Standard Chartered (OTC:SCPYF) ultra-high-net-worth investor was spotted making a strategic buy of 1,000 ETH at a critical support level.

鲸鱼行为的这种双重性在链上数据中很明显。例如，发现了一个特定的标准特许（OTC：SCPYF）超高净值投资者在关键的支持水平上进行战略性购买1,000 ETH的战略性。

This signals this specific investor’s confidence in Ethereum’s long-term value.

这表明该特定投资者对以太坊的长期价值的信心。

Key Price Levels: What to Watch for Ethereum’s Recovery

关键价格水平：以太坊恢复的观察

Market analysts, like Martinez, have identified key price levels that will determine Ethereum’s next move.

像马丁内斯（Martinez）这样的市场分析师已经确定了关键价格水平，这将决定以太坊的下一步行动。

One critical support level to watch is $2,050. If ETH fails to maintain this level, analysts warn of a potential further drop to $1,000.

值得关注的一个关键支持水平是$ 2,050。如果ETH无法维持此水平，分析师会警告潜在的进一步降至1,000美元。

This scenario would erase most of the gains made in the last bull run, setting up a new bull cycle from lower highs.

这种情况将消除上一次公牛奔跑中大部分的收益，从低点建立新的牛周期。

However, a decisive move above $2,500 could indicate renewed bullish momentum.

但是，果断的举动超过2500美元，可能表明新看涨的势头。

For long-term investors, these price movements present both risks and opportunities, depending on their market outlook and investment horizon.

对于长期投资者而言，这些价格变动会带来风险和机遇，具体取决于其市场前景和投资范围。

Broader Market Trends: Institutional Adoption vs. Regulatory Challenges

更广泛的市场趋势：机构采用与监管挑战

Beyond whale activity and ETF flows, broader market trends will shape Ethereum’s trajectory in 2025.

除了鲸鱼活动和ETF流，更广泛的市场趋势还将在2025年塑造以太坊的轨迹。

Institutional adoption remains a critical factor, with major financial players like Visa (NYSE:V), Mastercard (NYSE:MA), and JPMorgan Chase (NYSE:JPM) actively exploring blockchain-based solutions.

机构采用仍然是一个关键因素，例如Visa（NYSE：V），MasterCard（NYSE：MA）和JPMORGAN CHASE（NYSE：JPM）等主要财务参与者积极探索基于区块链的解决方案。

Recent developments, such as the approval of Bitcoin (BTC) Spot ETFs and the SEC’s scrutiny of crypto projects, will also have implications for Ethereum.

最近的发展，例如比特币（BTC）ETF的批准以及SEC对加密项目的审查，也将对以太坊有影响。

The recent approval of several Bitcoin Spot ETFs, like those from Invesco, State Street, and Bitwise, has sparked hope that similar applications for Ethereum could follow suit.

像Invesco，State Street和Bitwise的几个比特币现场ETF最近获得了批准，这激发了人们的希望，即以太坊的类似申请可能会效仿。

This could lead to a significant influx of institutional capital into the crypto market.

这可能会导致大量机构资本涌入加密货币市场。

However, the SEC’s ongoing investigation into several crypto projects and DeFi platforms, as well as the regulator’s stance on crypto derivatives, presents a risk factor that investors must consider.

但是，SEC对几个加密项目和DEFI平台以及监管机构对加密衍生品的立场进行了持续的调查，提出了投资者必须考虑的危险因素。

Crucially, regulatory clarity will be pivotal in determining whether Ethereum can break free from its current bearish cycle and stellar.

至关重要的是，调节性清晰度在确定以太坊是否可以摆脱其目前的看跌周期和出色的情况下将是关键的。

The Future of Ethereum: A Bullish or Bear

以太坊的未来：看涨或熊