以太坊的最初收益消失了

这种卖出压力是由于多种因素，包括杠杆摇摆和斑点流出。

Ethereum’s initial gains for the year were completely wiped out on Saturday, sending the second-largest cryptocurrency down more than 4%. This sell pressure was due to multiple factors, including a leverage shake-down and outflows from crypto ETFs.

以太坊在周六完全消除了以太坊的最初收益，将第二大加密货币下降了4％以上。这种销售压力是由于多种因素造成的，包括杠杆摇动和加密ETF的流出。

Earlier in the week, there was a strong focus on the U.S. crypto ETFs, specifically highlighting the seventh consecutive day of inflows, reaching $128.7 million. This built upon the third consecutive day of inflows, totaling $346.4 million, on January 3rd.

在本周早些时候，人们非常关注美国加密ETF，特别是突出了连续第七天的流入，达到1.287亿美元。这是基于1月3日连续第三天的流入，总计3.464亿美元。

However, this may have given a false sense of optimism, setting the stage for a swift reversal. After pivoting to outflows, the world’s largest cryptocurrency ETFs saw a peak outflow of $235.66 million.

但是，这可能给人一种错误的乐观感，为快速逆转奠定了基础。在转向流出后，世界上最大的加密货币ETF的峰值流出了2.3566亿美元。

In contrast, Bitcoin ETFs remained in the green in the last 24 hours, despite seven days of outflows from Ethereum ETFs. This may indicate a shift in cryptocurrency dominance.

相比之下，尽管以太坊ETF流出了7天，但在过去24小时内，比特币ETF仍留在绿色中。这可能表明加密货币优势的转变。

Outflows from Ethereum ETFs amounted to $86.8 million on Saturday, aligning with the observation of negative spot flows on exchanges during the same period.

周六的以太坊ETF的流出量为8680万美元，与同期交流的负面流量观察一致。

Moreover, the sell pressure had a noticeable impact on Ethereum’s dominance ratio, which had rebounded to 12.87% over the weekend, following a period of decline from 13.35% on Friday.

此外，卖出压力对以太坊的优势比率产生了明显的影响，以太坊的优势比率在周五下降了一段时间，后者在周五的13.35％下降了。

Nevertheless, this recovery was quickly reversed, sending the ratio as low as 12.32%. However, Ethereum might attempt to regain higher dominance from its current level, as the same zone previously demonstrated support.

然而，这种恢复很快被逆转，使该比率低至12.32％。但是，以太坊可能试图从当前水平重新获得更高的优势，因为同一区域先前证明了支持。

Another factor that could be hindering a swift recovery for ETH is the significant increase in leveraged long liquidations, which has contributed to the sell pressure observed over the last two days.

可能阻碍ETH迅速恢复的另一个因素是杠杆率长的清算的显着增加，这导致了过去两天观察到的卖出压力。

The appetite for leverage has been growing in recent months, with long liquidations rising by over 700% since January 3rd. In total, more than $173 million worth of liquidations were observed in the last 24 hours.

近几个月来，对杠杆的兴趣一直在增长，自1月3日以来，清算量的长期增加了700％。在过去的24小时内，总共观察到了价值超过1.73亿美元的清算。

This suggests that the early January rally, which saw Bitcoin attempt to break above $17,000 and Ethereum rise toward $1,600, may have been a set-up for a final leverage shake-down.

这表明，一月初的集会使比特币试图在17,000美元中折扣，以太坊上涨至1,600美元，这可能是最终的杠杆动力降低的设置。

However, this narrative could be shifting as whales have been selling since the start of the year, but recent data shows them accumulating during the dip.

但是，由于鲸鱼自年初以来一直在销售，但这种叙述可能会发生变化，但最近的数据表明它们在浸入过程中积累。

While outflows were lower at 411,300 ETH on Saturday, January 7th, compared to the previous day, with a total of 341,000 ETH, the amount of ETH being sold by whales was significantly lower at 519,620 ETH.

1月7日（星期六）与前一天相比，流出量低于411,300 ETH，总计341,000 ETH，鲸鱼出售的ETH数量显着降低了519,620 ETH。

This observation suggests that whales might be aiding in a mid-week recovery for ETH, which slid to $1,440 on Saturday morning, having recovered slightly from the day’s lows of $1,420.

该观察结果表明，鲸鱼可能有助于ETH中期恢复，这在周六早上滑到了1,440美元，从当天的低点1,420美元的低点恢复过来。