以太坊與比特幣：分析師將ETH與90年代的技術庫存進行比較，而ETF流入飆升

分析師正在以太坊和高增長技術庫存之間的相似之處，同時警告其集會中的潛在脆弱性。 Eth是新黃金還是其他東西？

Ethereum vs. Bitcoin: Analyst Compares ETH to '90s Tech Stocks as ETF Inflows Soar

以太坊與比特幣：分析師將ETH與90年代的技術庫存進行比較，而ETF流入飆升

Ethereum's surge has caught everyone's attention, but is it built to last? Recent analysis compares ETH to '90s tech stocks, highlighting both its potential and potential vulnerabilities.

以太坊的激增吸引了每個人的注意力，但是它可以持久嗎？最近的分析將ETH與90年代的科技股進行了比較，強調了其潛在脆弱性和潛在漏洞。

Ethereum's Meteoric Rise: The Numbers

以太坊的迅速崛起：數字

Ethereum (ETH) has been on a tear, boasting its best monthly return in three years, a staggering 56%. This surge outpaces Bitcoin's gains, which, while still impressive at over 10% monthly, are considerably lower. Over the last three months, Ethereum has gained over 113%, while Bitcoin is around 27%.

以太坊（ETH）一直流淚，擁有三年來最好的每月回報，驚人的56％。這種激增的收益超過了比特幣的收益，雖然每月超過10％，但仍令人印象深刻，但要低得多。在過去的三個月中，以太坊上漲了113％以上，而比特幣約為27％。

'90s Tech Stock Vibes: Analyst Weighs In

90年代技術股票共鳴：分析師的權重

Bloomberg Senior ETF analyst Eric Balchunas is making waves by likening Ethereum to the tech stocks of the 1990s. He points to the strong inflows into spot ETH ETFs as a key driver of this performance. Unlike Bitcoin's narrative as “new gold,” Ethereum is seeing accelerating adoption and network growth, similar to early tech companies.

彭博高級ETF分析師埃里克·巴爾庫納斯（Eric Balchunas）通過將以太坊比作1990年代的科技股來引起轟動。他指出，作為這一表現的關鍵動力，他的強勁流入成為現狀ETH。與比特幣作為“新黃金”的敘述不同，以太坊正在看到與早期科技公司相似的採用和網絡增長。

Spot Ether ETFs have recorded a 19-day streak of net inflows this month, marking a historical high. This reinforces the idea that altcoin ETFs operate more like '90s tech stocks than Bitcoin's “new gold” appeal.

Ether ETF在本月的淨流入量為19天，標誌著歷史上的高度。這加強了Altcoin ETF的運作比比特幣的“新黃金”吸引力更像90年代科技股的想法。

The Coinbase Premium Index: A Warning Sign?

Coinbase Premium指數：警告標誌？

However, not all signals are bullish. The Coinbase Premium Index, which measures the price difference between Ethereum on Coinbase and other global exchanges, has plunged to its lowest level since May, reaching -0.01. This suggests a potential dip in demand from major American institutions, which could weaken the foundation of ETH’s rally.

但是，並非所有信號都是看好的。 Coinbase Premium指數衡量了Coinbase和其他全球交易所之間以太坊之間的價格差異，自5月以來一直跌至其最低水平，達到-0.01。這表明美國主要機構的需求可能會下降，這可能會削弱ETH集會的基礎。

Technical Indicators: Mixed Signals

技術指標：混合信號

Technical analysis adds another layer of complexity. While the On-Balance Volume (OBV) follows the bullish price trend, the Chaikin Money Flow (CMF) shows a bearish divergence, indicating weakening buying pressure. Ethereum is also evolving within a rising wedge, a pattern often considered bearish as it suggests a slowdown in bullish momentum.

技術分析增加了另一層複雜性。雖然平衡量（OVER）遵循看漲的價格趨勢，但Chaikin貨幣流量（CMF）顯示出看跌的差異，表明購買壓力減弱了。以太坊也在在上升的楔形中發展，這種模式通常被認為是看跌的，因為它暗示了看漲勢頭的放緩。

For the bearish scenario to be invalidated, Ethereum’s price will need to break and hold above $4,024, a key resistance level. Otherwise, Ethereum could retest support at $3,510.

為了使看跌場景無效，以太坊的價格將需要打破並保持超過4,024美元，這是一個關鍵阻力水平。否則，以太坊可能以3,510美元的價格重新獲得支持。

A Word of Caution

謹慎

On-chain and technical signals suggest that Ethereum’s current rally might rest on more fragile foundations than it appears. The decrease in American institutional demand, combined with mixed technical indicators, points to an increased risk of a trend reversal in the short term. Investors would be well advised to remain vigilant against a potential bull trap.

鏈上和技術信號表明，以太坊目前的集會可能基於比看起來更脆弱的基礎。美國機構需求的減少，加上混合技術指標，這表明短期內趨勢逆轉的風險增加。建議投資者對潛在的牛陷阱保持警惕。

The Bottom Line

底線

So, is Ethereum the new gold, or the next Amazon? The truth, as always, is probably somewhere in between. While the '90s tech stock comparison is compelling, especially given the ETF inflows, it's crucial to stay grounded and keep an eye on those technical indicators. After all, even the most promising tech stocks can hit a bump in the road. Keep your eyes peeled, and happy investing!

那麼，以太坊是新黃金還是下一個亞馬遜？事實一如既往，可能在介於兩者之間。雖然90年代的科技庫存比較令人信服，尤其是考慮到ETF流入，但至關重要的是保持紮根並關注這些技術指標。畢竟，即使是最有前途的科技股也可能會在道路上遇到顛簸。保持眼睛剝落，並開心投資！