以太坊作为第二大加密货币的统治结束了吗？

Has Ethereum's Reign Ended?

以太坊的统治结束了吗？

Ethereum, the cryptocurrency that once commanded the second spot in global market capitalization, has recently stumbled, with its price plummeting nearly 4% to a mere $3,409. This sudden dip, coupled with a weekly plunge of approximately 8%, has left the crypto market scratching its head, wondering what went wrong.

曾经占据全球市值第二位的加密货币以太坊最近表现不佳，价格暴跌近 4%，至 3,409 美元。这种突然的下跌，再加上每周约 8% 的暴跌，让加密货币市场摸不着头脑，想知道到底出了什么问题。

Unraveling the Enigma: What Triggered Ethereum's Downturn?

解开谜团：是什么引发了以太坊的低迷？

Ethereum's recent rise to $4,000 within the past month has now been overshadowed by a plethora of factors that have sent it spiraling downward. Let's delve into the potential culprits behind this crypto heavyweight's sudden slump:

以太坊在过去一个月内上涨至 4,000 美元，但现在已被导致其螺旋式下跌的众多因素所掩盖。让我们深入探讨一下这个加密货币重量级人物突然暴跌背后的潜在罪魁祸首：

Exchange Inflows Surge Amidst Regulatory Jitters

监管紧张导致外汇流入激增

Ethereum's exchange inflows have reached their highest weekly level since September 2022, amounting to a staggering $720 million. This influx of tokens onto exchanges coincides with rising investor concerns over the potential regulatory landscape surrounding ETH. The mere whisper of an ETH ETF has created a cloud of uncertainty, fueling fears and selling pressure.

以太坊的交易所流入量已达到 2022 年 9 月以来的最高单周水平，达到惊人的 7.2 亿美元。代币涌入交易所的同时，投资者对围绕 ETH 的潜在监管环境的担忧日益加剧。仅仅 ETH ETF 的传言就已经造成了不确定性的阴云，加剧了恐惧和抛售压力。

Crypto market analyst Ali Martinez has also pointed to a massive $1.47 billion worth of ETH exchange inflows recorded over the past three weeks. This has cast a bearish shadow over Ethereum, indicating a combination of selling pressure, profit-taking, and overall negative market sentiment.

加密货币市场分析师 Ali Martinez 还指出，过去三周记录的 ETH 交易流入量高达 14.7 亿美元。这给以太坊蒙上了看跌阴影，表明抛售压力、获利回吐和整体负面市场情绪的综合作用。

Derivatives Data Paints a Grim Picture

衍生品数据描绘出一幅严峻的图景

Derivatives data from Coinglass reveals a significant decline in Ethereum's open interest, volume, and OI-weighted funding rate, mirroring today's slump. Open interest has dropped by 2.98%, reaching $13.01 billion, while volume has plunged by 38.87%, reaching $39.29 billion.

Coinglass 的衍生品数据显示，以太坊的未平仓合约、交易量和 OI 加权融资利率显着下降，反映了今天的暴跌。持仓量下降 2.98%，达到 130.1 亿美元，成交量下降 38.87%，达到 392.9 亿美元。

This suggests a sharp reduction in new money entering the token's derivatives market, coupled with diminished market activity. The OI-weighted funding rate of 0.0191% further validates the bearish sentiment that has gripped the market, contributing to Ethereum's fall.

这表明进入代币衍生品市场的新资金急剧减少，加上市场活动减少。 OI 加权融资利率为 0.0191%，进一步证实了市场的看跌情绪，导致以太坊下跌。

Crypto Market Liquidation Adds Fuel to the Fire

加密货币市场清算火上浇油

The crypto market has witnessed a wave of liquidations over the past 24 hours, with 82,047 traders facing the music, totaling $223.23 million. Notably, OKX recorded the largest liquidation order, valued at $1.76 million on the OKX – ETH-USDT-SWAP.

过去 24 小时内，加密货币市场出现一波清算浪潮，共有 82,047 名交易者面临清算，清算总额达 2.2323 亿美元。值得注意的是，OKX 记录了最大的清算订单，OKX – ETH-USDT-SWAP 上的清算订单价值为 176 万美元。

Ethereum bore the brunt of these liquidations, with $49.16 million wiped out in the past 24 hours. This liquidation frenzy, primarily from long traders, has further fueled the bearishness surrounding Ethereum, reflecting the heightened volatility that has engulfed the crypto realm.

以太坊在这些清算中首当其冲，在过去 24 小时内损失了 4916 万美元。这种主要来自多头交易者的清算狂潮进一步加剧了围绕以太坊的看跌情绪，反映出席卷加密货币领域的波动性加剧。

Market Dynamics: Ethereum's Bleak Outlook

市场动态：以太坊前景黯淡

Trading View's data paints a sobering picture for ETH, with selling sentiment currently dominating the market. The Relative Strength Index (RSI) hovering around 45 indicates a lack of buying interest, hinting at a potential downtrend. This further suggests that Ethereum's price may continue to slide, aligning with the bearish landscape it currently faces.

Trading View 的数据为 ETH 描绘了一幅令人警醒的景象，目前抛售情绪主导着市场。相对强弱指数 (RSI) 徘徊在 45 左右，表明缺乏购买兴趣，暗示潜在的下降趋势。这进一步表明以太坊的价格可能会继续下滑，与其目前面临的看跌格局一致。