以太坊（ETH/USD）跌至1年低点，删除了其价值的65％

以太坊（ETH/USD）跌至大约1460美元，在短短24小时内降低了7％，并加剧了一张残酷的三个月幻灯片，该幻灯片已消除了其价值的65％。

Ethereum (ETH) price tumbled to around $1,460 on Thursday, sliding 7% in the past 24 hours and continuing a three-month rout that has seen it lose 65% of its value.

以太坊（ETH）的价格在周四跌至1,460美元左右，在过去的24小时内下滑了7％，并继续进行了三个月的溃败，这已经使其价值损失了65％。

The drop also took ETH below its 2018 market cycle peak, rolling back seven years of growth when comparing it to Bitcoin (BTC).

下降也使ETH低于其2018年市场周期峰值，在将比特币（BTC）进行比较时，它的增长却恢复了七年。

The ETH/BTC pair is now trading at 0.018, reaching its lowest point since December 2019. While often touted as the ‘second-largest cryptocurrency,’ ETH has only outperformed Bitcoin for about 15% of trading days since its 2015 launch. For five straight years, Bitcoin has led the performance race.

ETH/BTC对现在的交易价格为0.018，达到了自2019年12月以来的最低点。虽然经常被吹捧为“第二大加密货币”，但ETH自2015年推出以来的交易日期仅超过了比特币。连续五年，比特币领导了表演竞赛。

Chart: TradingView

图表：TradingView

Amid the market downturn, blockchain data reveals significant whale movements. One long-term Ethereum holder, who had been accumulating 10,000 ETH since late 2022 with an average entry price of $1,295, recently sold their entire stake.

在市场低迷中，区块链数据显示出重大的鲸鱼运动。一位长期的以太坊持有人自2022年底以来一直积累了10,000 ETH，平均入场价为1,295美元，最近出售了他们的整个股份。

The sale realized a small profit at $1,678 per ETH. However, the whale missed the opportunity to sell when ETH soared to $4,000 in December, foregoing a potential gain of $27.6 million.

该销售的利润很小，每个ETH $ 1,678。但是，鲸鱼在12月ETH飙升至4,000美元时错过了销售的机会，预示了2760万美元的潜在收益。

Meanwhile, World Liberty Financial (WLF), a Donald Trump-affiliated crypto startup, reportedly offloaded 5,471 ETH for $8.01 million at a loss. The firm had purchased the tokens at an average price of $3,259.

同时，唐纳德·特朗普（Donald Trump）隶属的加密初创公司World Liberty Financial（WLF）以801万美元的损失以801万美元的价格卸载了5,471 ETH。该公司以3,259美元的平均价格购买了代币。

The massive institutional sell-off comes as On-Chain metrics on Ethereum enter ‘capitulation’ zones.

大规模的机构抛售是因为以太坊上的链链指标进入“投降”区域。

Ethereum NUPL Enters Capitulation Zone Again- A Buying Opportunity?

Ethereum Nupl再次进入投降区 - 购买机会？

The Net Unrealized Profit/Loss (NUPL) indicator has dipped into the “capitulation” zone, where most holders are now sitting on losses. Historically, this zone has preceded major market rebounds, notably in March 2020 and June 2022.

净未实现的盈利/损失（NUPL）指标已浸入“投降”区域，现在大多数持有人现在都遭受损失。从历史上看，该区域已经进行了主要的市场篮板之前，尤其是在2020年3月和2022年6月。

ETH has also dropped below its “Realized Price,” which is the average acquisition cost of all coins in circulation, often indicating panic selling but also an accumulation opportunity for savvy investors.

ETH还低于其“实现价格”，这是所有流通中所有硬币的平均收购成本，通常表明恐慌出售，但也是精明的投资者的积累机会。

Technical Analysis: Bearish Divergence Pattern Spotted

技术分析：看跌分歧模式被发现

Current ETH price action mirrors patterns seen during the 2018 and 2022 bear markets. Analysts at CryptoTotal identified a bearish divergence pattern—higher price highs but lower RSI highs—suggesting deteriorating momentum.

当前的ETH价格动作反映了2018年和2022年熊市中看到的模式。加密分析师确定了看跌的差异模式 - 价格高，但RSI高点较低 - 势头不断恶化。

The RSI is still above oversold levels, which may indicate further downside potential for ETH in the short term.

RSI仍高于超售水平，这可能在短期内表明ETH的进一步下行潜力。

Fibonacci retracement zones and historical support levels place the potential bottom at the $990 to $1,240 range, aligning with the 0.618 to 0.786 retracement levels—often considered “golden” zones for reversals.

斐波那契回撤区和历史支持水平将潜在的底部定为990美元至1,240美元的范围，与0.618至0.786的回回头水平保持一致，通常被认为是逆转的“金”区。

Macro Factors Fuel Further Sharp Correction

宏观因素进一步彻底校正

The sharp correction in Ethereum comes amid broader market weakness, partially attributed to the Trump administration’s recently enacted global tariffs.

以太坊的急剧纠正是在更广泛的市场弱点之内出现的，部分归因于特朗普政府最近颁布的全球关税。

Despite the bearish sentiment, some technical indicators suggest Ethereum is nearing oversold levels—potentially setting the stage for a base to form. However, the timing and strength of any rebound remain uncertain.

尽管有看跌的情绪，但一些技术指标表明，以太坊正在接近超售的水平，这是为基地形成的舞台。但是，任何反弹的时机和力量仍然不确定。