据加密分析师阿里·马丁内斯（Ali Martinez）称

著名的加密分析师阿里·马丁内斯（Ali Martinez）表示，以太坊价格可能接近投降的终结。

Famous crypto analyst Ali Martinez believes that the Ethereum (ETH) price may be nearing the end of the capitulation, according to his latest analysis.

根据他的最新分析，著名的加密分析师阿里·马丁内斯（Ali Martinez）认为，以太坊（ETH）的价格可能接近投降的终结。

In a recent X post, Martinez highlighted that Ethereum’s Entity-Adjusted Dormancy Flow has dropped below one million. This metric, which measures the relative value of coins being held versus the rate at which they are being spent, has been linked to Ethereum bottoms in the past.

在最近的X帖子中，马丁内斯强调说，以太坊的实体调整的休眠流量已下降到100万以下。该指标可以衡量持有硬币的相对价值与花费的速度相对值，但过去与以太坊底部有联系。

“This historically indicates a macro bottom zone, meaning $ETH might be undervalued and long-term holders are less inclined to sell,” Martinez explained.

马丁内斯解释说：“从历史上看，这表明宏观底部区域，这意味着$ eth可能被低估了，长期持有人不太倾向于出售。”

The analyst noted that this metric shows low sentiment and possible accumulation by “smart money”. He added, “Capitulation may have occurred, smart money might be accumulating.”

分析师指出，该度量标准表现出“智能货币”的低点和可能的积累。他补充说：“投降可能发生了，聪明的钱可能正在积累。”

This Ethereum analysis has sparked cautious optimism among investors, as similar patterns have led to recovery in the past.

这种以太坊分析引发了投资者的谨慎乐观，因为过去的类似模式导致了过去的康复。

#Ethereum Entity-Adjusted Dormancy Flow just dropped below 1 million.

#Ethereum实体调整后的休眠流量刚刚降至100万以下。

This historically indicates a macro bottom zone, meaning $ETH might be undervalued and long-term holders are less inclined to sell. It also suggests:

从历史上看，这表明宏观底部区域，这意味着$ ETH可能被低估，并且长期持有人不太倾向于出售。它也暗示：

• Sentiment is low

•情绪低落

• Capitulation may have occurred

•投降可能发生了

• Smart money might be... pic.twitter.com/8mFc3Qdxoy

•聪明的钱可能是... pic.twitter.com/8mfc3qdxoy

— Ali Martinez (@ali_martinez) April 11, 2025

-Ali Martinez（@ali_martinez）2025年4月11日

The Entity-Adjusted Dormancy Flow compares Ethereum’s market cap to the dormancy value, adjusted for unique entities rather than raw addresses. This metric is used to identify periods of price extrema, which can be either a bottom or a top.

实体调整后的休眠流程将以太坊的市值与休眠价值进行了比较，该损失是针对独特实体而不是原始地址进行了调整的。该指标用于识别价格超值时期，这可以是底部或顶部。

Meanwhile, Ethereum’s price has dropped over 55% in the past year and is currently trading around $1,557. Despite this prolonged decline, analysts are finally beginning to see signs of an Ethereum price bottom.

同时，以太坊的价格在过去一年中下跌了55％以上，目前的交易价格约为1,557美元。尽管有延长的下降，但分析师终于开始看到以太坊价格最低点的迹象。

CryptoQuant collaborator theKriptolik pointed out that ETH has fallen below its Actual Price, a metric showing the average acquisition cost across the blockchain.

CryptoQuant合作者Thekriptolik指出，ETH跌至其实际价格低于其实际价格，这是一个标准，显示了整个区块链的平均收购成本。

However, such drops in prices also signal strategic accumulation opportunities for long-term holders.

但是，价格下跌也表示长期持有人的战略积累机会。

"After a year of downward movement, #ETH has fallen below its Actual Price, suggesting a capitulation phase. This aligns with the low Entity-Adjusted Dormancy Flow, indicating potential accumulation by smart money and a macro bottom zone."

“经过一年的下降，#ETH降至其实际价格低于其实际价格，这表明是一个投降阶段。这与低实体调整的休眠流量保持一致，表明智能货币和宏观底部区域的潜在积累。”

This suggests that the cryptocurrency might be undervalued, and long-term holders are less likely to sell their coins.

这表明加密货币可能被低估了，长期持有人出售硬币的可能性较小。

Martinez issued a warning that ETH could dip as low as $1,200 if selling pressure persists.

马丁内斯（Martinez）发出警告，如果销售压力持续存在，ETH可能会下降到1200美元。

Another analyst, NotWojak, suggested that ETH might be on the verge of a breakout. He stated that this breakout may take ETH up to $1,835.

另一位分析师霍斯沃克（Notwojak）建议，ETH可能处于突破的边缘。他说，这一突破可能会使ETH高达1,835美元。

With Ethereum’s on-chain data suggesting possible recovery and analysts divided on its short-term growth path, it remains to be seen whether the second-largest cryptocurrency will manage to break out of its current slump.

通过以太坊的链链数据表明可能的恢复，分析师在其短期增长路径上有所分歧，第二大加密货币是否能够爆发其当前的低迷，这尚待观察。