以太坊（ETH）令牌正在接近針對比特幣（BTC）的關鍵價格區域

以太坊的以太（ETH）代幣正在接近對比特幣（BTC）的關鍵價格區，這在歷史上標誌著大量反彈的開始。

Ether (ETH) price is approaching a critical price zone against Bitcoin (BTC), which historically marked the beginning of a massive rebound.

Ether（ETH）價格正在接近針對比特幣（BTC）的關鍵價格區，這在歷史上標誌著大量反彈的開始。

ETH/BTC fractal from 2019 hints at bottom

2019年以來的ETH/BTC分形提示底部

The ETH/BTC pair, currently trading around 0.019 BTC, is nearing 0.016 BTC – the exact level it reached in September 2019 before rallying nearly 450% over the following year.

ETH/BTC對目前的交易量約為0.019 BTC，接近0.016 BTC，這是2019年9月達到的確切水平，隨後在次年漲到近450％。

The current ETH/BTC setup shows striking similarities to 2019, with both periods characterized by:

當前的ETH/BTC設置顯示與2019年的驚人相似之處，這兩個時期的特徵是：

Relative strength index (RSI) in oversold territory.

超售領土的相對強度指數（RSI）。

Long periods of price trading below key moving averages.

長時間的價格交易低於關鍵移動平均值。

Multi-year declines from previous highs.

以前的高點下降了多年。

In 2019, ETH/BTC plummeged over 90% in the two years prior to the September 2019 low. This decline was fueled by the crypto winter of 2018 and the fallout from the 2017 initial coin offering (ICO) boom.

2019年，ETH/BTC在2019年9月低點之前的兩年中下降了90％以上。 2018年加密貨幣冬季以及2017年初始硬幣產品（ICO）繁榮的後果引起了這種下降。

As of 2025, the pair is down over 80% from its 2021 peak, amid ongoing concerns over Ethereum’s switch to proof-of-stake (PoS), rising competition from other blockchains, and Bitcoin’s increasing dominance as an institutional asset class.

截至2025年，這對夫婦的2021年峰值下降了80％以上，這是由於人們對以太坊轉向二手證明（POS）的持續擔憂，其他區塊鏈的競爭增加以及比特幣作為機構資產類別的統治地位。

In response to the growing worries, Buterin proposed new architecture and protocol-wide standards to make Ethereum simpler, faster, and as maintainable as Bitcoin within five years.

為了應對日益增長的擔憂，布特林提出了新的建築和規程範圍的標準，以使以太坊在五年內與比特幣更簡單，更快，可維護。

One analyst described Buterin’s proposal as “the most bullish thing for ETH.”

一位分析師將Buterin的提議描述為“對ETH的最看漲的事情”。

Is ETH/BTC forming bullish divergence vs. bear parabola?

ETH/BTC是否形成看漲的分歧與熊拋物線？

The bullish hopes come as ETH/BTC attempts to break free from its multi-year “bearish parabola.” This resistance curve has been instrumental in limiting the pair’s upside attempts since December 2021 but showed signs of exhaustion as of May 3.

看漲的希望是因為ETH/BTC試圖擺脫其多年的“看跌拋物線”。自2021年12月以來，這種電阻曲線一直在限制這對夫婦的上行嘗試中，但截至5月3日，這表現出疲憊的跡象。

“Might be able to see an end of this bearish parabola,” said chartist Jimie.

“也許可以看到這種看跌拋物線的結束，”凱奇主義者吉米說。

He added that if the curved resistance holds, ETH/BTC could continue dropping toward 0.016 BTC – the same level where it bottomed in September 2019 before rallying by roughly 450%.

他補充說，如果彎曲阻力持有，則ETH/BTC可能會繼續降至0.016 BTC，這是2019年9月觸底的水平，然後集會大約450％。

Another angle is that if the bearish parabola breaks, it could open the door for a rally toward 0.030 BTC.

另一個角度是，如果看跌拋物線破裂，它可以打開朝著0.030 BTC的集會打開門。

Flush ETH and buy Bitcoin, says Adam Back

亞當回來說

But Bitcoin’s proof-of-work pioneer, Adam Back, isn’t buying into Buterin’s vision for Ethereum’s future.

但是比特幣的工作證明先驅者亞當（Adam Back）並沒有購買Buterin對以太坊未來的願景。

Instead, he argues that Buterin is overlooking even deeper design flaws in his proposal to simplify Ethereum in the coming years.

取而代之的是，他認為，布特林在未來幾年簡化以太坊的提議中忽略了更深的設計缺陷。

In a critical analysis, Back highlights what he sees as the fundamental flaws in Ethereum’s architecture, suggesting they render any attempts at simplification futile.

在批判性分析中，Back凸顯了他認為以太坊建築中的基本缺陷，這表明它們使任何簡化的嘗試都徒勞無功。

According to Back, Ethereum’s account-based system, used for tracking tokens and balances, adds unnecessary complexity compared to Bitcoin’s simpler UTXO (unspent transaction output) model, which is used for managing coins and transactions.

根據Back的說法，與比特幣的更簡單的UTXO（Untpent Transaction Outper）模型相比，用於跟踪令牌和余額的基於以太坊的基於帳戶的系統，該系統添加了不必要的複雜性，該模型用於管理硬幣和交易。

This growing complexity, he claims, increases technical risks and makes Ethereum harder to scale and secure.

他聲稱，這種日益增長的複雜性增加了技術風險，並使以太坊更難擴展和安全。

He further criticizes the shift to PoS, arguing that it has concentrated power among insiders by redirecting miner rewards, which previously flowed into the network with each block, to large tokenholders.

他進一步批評了向POS的轉變，認為它通過重定向礦工的獎勵來集中力量，該礦工的獎勵以前以每個塊的方式流入了網絡，向大型代幣持有人。

“At this point, just flush ETH before it hits zero and buy Bitcoin,” Back concludes, suggesting no upgrade can fix what he views as Ethereum’s flawed foundation.

“在這一點上，只需沖洗ETH，然後才能達到零併購買比特幣，” Back總結道，建議沒有升級可以解決他認為他認為以太坊有缺陷的基礎的內容。