Ethereum Experiences Significant Downturn, Sparking Concerns

以太坊經歷嚴重低迷，引發擔憂

Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has witnessed a sharp decline in value, losing over 20% over the past week. This sell-off and market correction have pushed ETH below the crucial $3,500 support level, raising apprehensions about further declines.

市值第二大加密貨幣以太幣（ETH）的價值急劇下跌，過去一週下跌超過 20%。此次拋售和市場調整已將 ETH 推低至關鍵的 3,500 美元支撐位以下，引發了人們對進一步下跌的擔憂。

Whale Activity Fuels Market Volatility

鯨魚活動加劇市場波動

Recent blockchain data indicates aggressive sell-offs by Ethereum whales. One large entity transferred 49,910 ETH (approx. $170 million) to Binance, subsequently withdrawing $137.8 million in stablecoins. Within 48 hours, another whale sold off 31,968 ETH (approx. $122.3 million). These large-scale liquidations are attributed to forced debt repayments.

最近的區塊鏈數據顯示以太坊鯨魚大幅拋售。一家大型實體將 49,910 ETH（約 1.7 億美元）轉移到幣安，隨後提取了 1.378 億美元的穩定幣。 48 小時內，另一隻鯨魚賣出了 31,968 ETH（約 1.223 億美元）。這些大規模清算歸因於強制償還債務。

The Ethereum Foundation has also contributed to the sell-off, selling 100 ETH at near market peaks. Analysis reveals that the Foundation has strategically sold 4,466 ETH for $12.6 million across 32 trades, often coinciding with market highs.

以太坊基金會也助長了此次拋售，在接近市場高峰時拋售了 100 個 ETH。分析顯示，基金會在 32 筆交易中以 1,260 萬美元的價格策略性出售了 4,466 個 ETH，這通常與市場高點一致。

Ethereum ETFs Face Outflows Amid Bearish Sentiment

以太坊 ETF 在看跌情緒中面臨資金外流

Spot Ethereum ETFs, which had experienced consistent inflows, have seen a sudden outflow of $60 million. Grayscale's ETHE fund accounted for $58 million of these redemptions on December 19th. This reversal marks a shift in investor sentiment due to increased market uncertainty.

此前一直有持續流入的現貨以太坊 ETF 突然流出 6000 萬美元。 12 月 19 日，Grayscale 的 ETHE 基金在這些贖回中佔了 5,800 萬美元。由於市場不確定性增加，這種逆轉標誌著投資者情緒的轉變。

Technical Indicators Signal Potential Drops

技術指標顯示潛在下跌

Ethereum's price decline has formed a bearish double-top pattern on its four-hour chart, losing support at $3,500. Technical analysis suggests a potential drop to $3,000, with analysts forecasting even lower levels near $2,800 if the downtrend persists.

以太坊價格下跌在四小時圖表上形成了看跌雙頂形態，失去了 3,500 美元的支撐。技術分析表明，價格可能會跌至 3,000 美元，分析師預測，如果下跌趨勢持續下去，價格甚至會更低，接近 2,800 美元。

The aggregated futures premium has also turned negative for the first time since November, reflecting growing bearish expectations. Over $299 million in ETH futures positions have been liquidated, with $270 million coming from long positions.

總期貨溢價也自 11 月以來首次變為負值，反映出看跌預期不斷增強。超過 2.99 億美元的 ETH 期貨部位已被清算，其中 2.7 億美元來自多頭部位。

Analysts Weigh In on Ethereum's Future

分析師對以太坊的未來進行評估

Crypto analysts have varied opinions on Ethereum's near-term outlook. Caleb Franzen expects a bounce from the $3,000 support level, citing a potential inverse head-and-shoulders setup. Ted Pillows anticipates a breakout past $4,100 if bullish momentum returns.

加密貨幣分析師對以太幣的近期前景有不同的看法。 Caleb Franzen 預計價格將從 3,000 美元的支撐位反彈，理由是潛在的反向頭肩形態。 Ted Pillows 預計，如果看漲勢頭回歸，價格將突破 4,100 美元。

Despite the recent setbacks, Ethereum's ecosystem and investor interest remain strong. While current market conditions are challenging, industry experts believe a recovery is possible if key support levels hold and broader market sentiment improves.

儘管最近遭遇挫折，以太坊的生態系統和投資者的興趣仍然很強勁。儘管當前的市場狀況充滿挑戰，但行業專家認為，如果關鍵支撐位保持不變並且更廣泛的市場情緒改善，經濟復甦是可能的。

Disclaimer: This article is for informational purposes only and does not provide financial advice. Investors are advised to conduct their own research before making any financial decisions.

免責聲明：本文僅供參考，不提供財務建議。建議投資者在做出任何財務決定之前進行自己的研究。