以太幣 (ETH) 可能會在 2025 年初迎來突破

多項市場指標表明，以太坊的 ETH 可能正在為 2025 年初的突破做好準備。

Several market indicators suggest that Ethereum’s (CRYPTO: ETH) ETH might be preparing for a breakout in early 2025. For investors wondering what crypto coins to buy, ETH remains a strong prospect.

多項市場指標表明，以太幣 (CRYPTO: ETH) ETH 可能正在為 2025 年初的突破做準備。

Recent insights from CryptoQuant analyst Burak Kesmeci shed light on Ethereum’s Futures market dynamics. Kesmeci highlighted four key metrics — Funding Rate, Taker Buy-Sell Ratio, Open Interest, and liquidations — that have played a crucial role in shaping Ethereum’s price movement.

CryptoQuant 分析師 Burak Kesmeci 的最新見解揭示了以太坊期貨市場動態。 Kesmeci 強調了四個關鍵指標——資金費率、受助者買賣比率、未平倉合約和清算——這些指標在塑造以太坊價格走勢方面發揮了至關重要的作用。

The Funding Rate stood at a healthy 0.01 at the time of analysis. This figure indicates that traders in long positions are confidently supporting Ethereum’s spot market, a promising sign for sustained stability. Furthermore, the Taker Buy-Sell Ratio of 0.57 underscored a prevailing buying sentiment among derivatives market participants, which could potentially fuel demand-driven price surges.

在分析時，資金利率處於健康的 0.01 水準。這一數字表明，多頭交易者正在自信地支持以太坊現貨市場，這是持續穩定的一個有希望的跡象。此外，0.57 的受助者買賣比率突顯了衍生性商品市場參與者普遍存在的購買情緒，這可能會推動需求驅動的價格飆升。

Open Interest, a measure of market activity, experienced a modest increase of 3.18% within 24 hours. This uptick signals a renewed interest in Ethereum derivatives, though it appears to be a short-term trend. Meanwhile, $6 million worth of short positions were liquidated during the same period. The active liquidation of these bearish bets reduced selling pressure and countered the effects of heightened Open Interest.

衡量市場活動的未平倉合約在 24 小時內小幅成長 3.18%。這種上升表明人們對以太坊衍生品重新產生了興趣，儘管這似乎是一種短期趨勢。與此同時，價值 600 萬美元的空頭部位在同一時期被清算。這些看跌押注的積極清算減少了拋售壓力，並抵消了未平倉合約增加的影響。

The easing of sell pressure in Futures markets paints an encouraging picture for Ethereum bulls, who are actively stepping into the market. However, Futures markets tell only part of the story. Spot market behavior offers additional insights into Ethereum’s performance and investor sentiment.

期貨市場拋售壓力的緩解為積極進入市場的以太坊多頭描繪了一幅令人鼓舞的景象。然而，期貨市場只講述了故事的一部分。現貨市場行為為以太坊的表現和投資者情緒提供了更多見解。

The exchange supply ratio — a metric reflecting the proportion of ETH held on exchanges — dropped to 0.14 over the past week. This decline suggests that investors are withdrawing Ethereum from exchanges, signaling accumulation and long-term optimism. Reduced exchange supply often correlates with bullish sentiment, as investors hold assets off exchanges to avoid selling.

交易所供應比率（反映交易所持有 ETH 比例的指標）在過去一周下降至 0.14。這種下跌表明投資者正在從交易所撤出以太坊，這表明了累積和長期樂觀情緒。交易所供應量的減少通常與看漲情緒相關，因為投資者將資產保留在交易所之外以避免拋售。

Whales, or large Ethereum holders, appear to share this positive outlook. The net flow of capital from whales has been consistently positive throughout the week, reflecting increased confidence in Ethereum’s prospects. Long-term holders have also demonstrated optimism, as their profit margins remain more favorable than those of short-term traders.

鯨魚，或者以太坊的大持有者，似乎也認同這種正面的前景。本週鯨魚的淨資金流量一直為正，反映出人們對以太坊前景的信心增強。長期持有者也表現出樂觀態度，因為他們的利潤率仍然比短期交易者更有利。

This shift towards accumulation and long-term investment is a strong indicator of potential price growth. As confidence spreads across different market segments, Ethereum seems well-positioned to break out of its consolidation phase.

這種向累積和長期投資的轉變是潛在價格成長的有力指標。隨著信心在不同的細分市場蔓延，以太坊似乎已經做好了突破整合階段的準備。

Furthermore, over 78% of traders on BitMEX are bullish on Ethereum, holding open futures positions anticipating a price surge, according to Crypto Analyst Ali Martinez. This optimistic sentiment reflects growing confidence in Ethereum’s market potential as its ecosystem continues to expand and innovate.

此外，據加密貨幣分析師阿里馬丁內斯 (Ali Martinez) 稱，BitMEX 上超過 78% 的交易者看好以太坊，持有未平倉期貨頭寸，預計價格將上漲。這種樂觀情緒反映出，隨著以太坊生態系統的不斷擴展和創新，人們對以太坊市場潛力的信心不斷增強。

If current conditions hold steady, Ethereum could reclaim $3,600, a level not seen in weeks. However, the possibility of bearish sentiment disrupting this upward momentum cannot be ignored. A resurgence of selling pressure might push Ethereum down to $3,100. Overall, like with other leading crypto coins such as XRP, 2025 looks bright for ETH.

如果當前情況保持穩定，以太坊可能會恢復 3,600 美元，這是數週以來未曾見過的水平。然而，看跌情緒破壞這種上升勢頭的可能性不容忽視。拋售壓力的復甦可能會將以太坊推低至 3,100 美元。總體而言，與 XRP 等其他領先的加密貨幣一樣，2025 年 ETH 看起來前景光明。