随着市场预期山寨币反弹，以太坊 (ETH) 有望在 2025 年初表现出色

MN Capital 创始人 Michael van de Poppe 预计，以 ETH/BTC 比率衡量的 ETH 相对于 BTC 的相对强度可能会突破 0.04，这是自 2024 年 12 月以来从未见过的水平。

renowned cryptocurrency technical analyst Michael van de Poppe has shared his insights on Ethereum's promising outlook. According to him, ETH's relative strength against BTC, measured by the ETH/BTC ratio, could propel the ratio to break through the 0.04 level — a height last seen by the ratio in December 2024. This development is setting the stage for a bullish move for Ethereum, which could potentially catalyze an "altcoin run."

著名加密货币技术分析师 Michael van de Poppe 分享了他对以太坊前景的见解。据他称，以 ETH/BTC 比率衡量的 ETH 相对于 BTC 的相对强势可能会推动该比率突破 0.04 的水平——该比率上次达到的高度是在 2024 年 12 月。这一事态发展正在为看涨奠定基础对于以太坊来说，这可能会引发“山寨币挤兑”。

Historical Performance Signals Positive Momentum

历史表现预示着积极的势头

A glance at Ethereum's historical performance in Q1 reveals its potential for substantial gains. Based on data from Coinglass, ETH has clocked an average increase of 92% in Q1 since 2017, with January alone contributing an average of 23% to the overall growth. This historical performance sets a strong precedent for optimism regarding early 2025 price activity.

纵观以太坊第一季度的历史表现，就会发现其大幅上涨的潜力。根据 Coinglass 的数据，自 2017 年以来，ETH 第一季度平均增长了 92%，仅 1 月份就平均贡献了 23% 的整体增长。这一历史表现为 2025 年初价格活动的乐观情绪奠定了良好的先例。

Moreover, Ethereum's current market behavior also hints at its upward trajectory. As of late December, the ETH/BTC ratio surged by 3.26% over 30 days, while ETH hovered around $3,472. Bitcoin, on the other hand, traded slightly below its record-breaking six-figure milestone at $98,805, as reported by CoinMarketCap.

此外，以太坊当前的市场行为也暗示了其上涨轨迹。截至 12 月底，ETH/BTC 比率在 30 天内飙升 3.26%，而 ETH 徘徊在 3,472 美元附近。另一方面，据 CoinMarketCap 报道，比特币的交易价格略低于其破纪录的六位数里程碑 98,805 美元。

Institutional Adoption and ETF Trends

机构采用和 ETF 趋势

Another factor contributing to Ethereum's promising outlook is the growing institutional interest in spot Ether exchange-traded funds (ETFs). According to Nate Geraci, president of The ETF Store, the net inflows into ETH ETFs are keeping pace with those into gold ETFs, indicating a shift toward Ethereum among institutional investors. He anticipates that these inflows will accelerate as 2025 progresses.

以太坊前景光明的另一个因素是机构对现货以太币交易所交易基金（ETF）的兴趣日益浓厚。 The ETF Store 总裁 Nate Geraci 表示，ETH ETF 的净流入与黄金 ETF 的净流入保持同步，这表明机构投资者正在转向以太坊。他预计，随着 2025 年的进展，这些资金流入将会加速。

This trend is particularly significant given the dynamic nature of the cryptocurrency market. Spot ETFs offer investors a simplified and efficient way to gain exposure to assets like ETH, promoting wider adoption and increased market liquidity. As a result, analysts suggest that the growing institutional demand for ETH ETFs could eventually outpace that for Bitcoin ETFs, especially considering Ethereum's diverse applications and versatile ecosystem.

考虑到加密货币市场的动态性质，这一趋势尤为重要。现货 ETF 为投资者提供了一种简单而有效的方式来获得 ETH 等资产的投资，从而促进更广泛的采用并增加市场流动性。因此，分析师认为，机构对 ETH ETF 不断增长的需求最终可能会超过比特币 ETF，特别是考虑到以太坊的多样化应用和多功能生态系统。

Catalysts for an Altcoin Rally

山寨币反弹的催化剂

An increase in Ethereum's relative strength might lead to Bitcoin price consolidation, redirecting inflows toward Ethereum and altcoins within its ecosystem. This shift could benefit several tokens, including Shiba Inu (SHIB) and Mantle (MNT), which recently posted gains of 7.1% and 3.3%, respectively, against the backdrop of broader market gains.

以太坊相对实力的增强可能会导致比特币价格整合，将资金流入转向其生态系统内的以太坊和山寨币。这一转变可能有利于多种代币，包括 Shiba Inu (SHIB) 和 Mantle (MNT)，在大盘上涨的背景下，它们最近分别上涨了 7.1% 和 3.3%。

Additionally, Ethereum's network advancements position it as a leader among altcoins. Upgrades under Ethereum 2.0 aim to improve scalability, energy efficiency, and transaction speeds, making the network more attractive to both developers and investors. These technological improvements may reinforce Ethereum's market dominance and stimulate broader ecosystem growth.

此外，以太坊的网络进步使其成为山寨币中的领导者。以太坊 2.0 的升级旨在提高可扩展性、能源效率和交易速度，使网络对开发商和投资者都更具吸引力。这些技术改进可能会加强以太坊的市场主导地位并刺激更广泛的生态系统增长。

Staying Informed Amid Cryptocurrency Volatility

在加密货币波动中保持信息灵通

While Ethereum's prospects are promising, analysts emphasize the need to consider potential risks. Macroeconomic uncertainties, regulatory developments, and market volatility could impact cryptocurrency performance. For instance, tightening global monetary policies or unfavorable legislative changes might temper bullish momentum.

虽然以太坊的前景充满希望，但分析师强调需要考虑潜在风险。宏观经济不确定性、监管发展和市场波动可能会影响加密货币的表现。例如，全球货币政策收紧或不利的立法变化可能会削弱看涨势头。

However, long-term Ethereum advocates are optimistic about the cryptocurrency's future. Pseudonymous trader Brent recently described ETH as "the most under-owned asset in the world," highlighting its potential for further appreciation. Similarly, Into The Cryptoverse founder Benjamin Cowen predicts that ETH's underperformance against BTC may soon reverse, paving the way for stronger price action over the next six to twelve months.

然而，以太坊的长期支持者对加密货币的未来持乐观态度。匿名交易员布伦特最近将 ETH 描述为“世界上最被低估的资产”，强调了其进一步升值的潜力。同样，Into The Cryptoverse 创始人 Benjamin Cowen 预测，ETH 相对于 BTC 的表现不佳可能很快就会逆转，为未来六到十二个月内更强劲的价格走势铺平道路。