當美國投資者退出時，以太坊拉力賽面臨風險，這將如何影響ETH的價格？

在過去的一周中，領先的Altcoin以太坊在過去一周中飆升了40％以上，這在整個加密貨幣市場上的樂觀態度引起。

Leading cryptocurrency, Ethereum (CRYPTO: ETH), has surged by over 40% in the past week, fueled by renewed optimism across the crypto market. At press time, the coin is trading at $2,598 and is steadily above the psychological price point of $2,500.

領先的加密貨幣以太坊（Crypto：ETH）在過去一周中飆升了40％以上，這在整個加密貨幣市場上的樂觀情緒推動了。發稿時，硬幣的交易價格為2,598美元，穩步高於2500美元的心理價格。

However, despite the rally, new data from CryptoQuant suggests that this rally may be losing steam, especially as US-based investors appear to be cashing out.

然而，儘管集會進行集會，但來自CryptoQuant的新數據表明，這次集會可能正在失去動力，尤其是當美國的投資者似乎正在兌現時。

Here’s a look at what happened and what could happen next.

以下是發生什麼以及接下來可能發生的事情。

What Happened: According to CryptoQuant, the Coinbase Premium Index for Ethereum reached a weekly high of 0.022 on May 10 and has since been trending downward. At press time, the CPI is at 0.0063.

發生的事情：根據加密素養的說法，以太坊的Coinbase Premium指數在5月10日達到0.022，此後一直在下降。發稿時，CPI為0.0063。

This new report from the firm comes as Ethereum's price has also risen by 5% over the past week.

該公司的這份新報告是因為以太坊的價格在過去一周中也上漲了5％。

The CPI measures the difference between Coinbase's BTC price and the average price on major international exchanges, such as Binance. It serves as a useful indicator for gauging U.S. investor sentiment.

CPI衡量了Coinbase的BTC價格和主要國際交易所（例如二元）的平均價格之間的差異。它是衡量美國投資者情緒的有用指標。

A high CPI indicates that Coinbase is trading at a premium compared to global markets, suggesting strong buying pressure from U.S.-based institutional and retail investors. Conversely, a low or negative CPI signals that demand on Coinbase is lagging behind global markets, possibly due to profit-taking or waning interest among U.S. buyers.

高CPI表明，與全球市場相比，Coinbase的交易額是溢價的，這表明來自美國機構和零售投資者的強烈購買壓力。相反，對Coinbase的需求的低或負CPI信號落後於全球市場，這可能是由於美國買家的利益或減少利益所致。

The fact that the CPI is decreasing despite Ethereum's price rally implies that American investors are exiting their positions and taking profits, rather than buying into the rally.

儘管以太坊的價格集會，CPI正在減少CPI，這意味著美國投資者正在退出自己的地位並獲得利潤，而不是參加集會。

This observation is further supported by the readings from Ethereum's Price-to-Daily Active Addresses divergence, an on-chain metric that compares price movement with network activity. As per Santiment, this metric has been in the negative territory for the past few days even as Ethereum's price edges higher. At press time, the metric stands at -58.2%.

以太坊的價格到每日活動的讀數進一步支持了這一觀察結果，這是一種將價格變動與網絡活動進行比較的鏈型指標。根據santiment，即使以太坊的價格更高，該指標在過去幾天中一直處於負面狀態。發稿時，公制為-58.2％。

A negative value for this metric indicates that a corresponding rise in user engagement is not supporting the recent price gains. In essence, not enough demand is driving Ethereum's rally, which might risk a pullback in the near term.

該指標的負值表明，用戶參與度的相應增加並不支持最近的價格上漲。從本質上講，需求沒有足夠的需求推動以太坊的集會，這可能會在短期內撤回。

What's Next For Ethereum: If the bulls manage to defend the price action and if the buyers return, then Ethereum could make another attempt to reach the resistance level of $2,745.

以太坊的下一步是：如果公牛設法捍衛價格行動，如果買家返回，那麼以太坊可能會再次嘗試達到2,745美元的抵抗水平。

However, if the bears overwhelm the bulls and if the sellers return, then Ethereum's price could fall to the support level of $2,424.

但是，如果熊不堪重負，如果賣方返回，那麼以太坊的價格可能會降至2,424美元的支持水平。

If this level breaks, then a deeper drop to $2,243 could be possible.

如果此級別破裂，則可能會有更深層次的跌至2,243美元。

At press time, Ethereum is trading at $2,598. The coin is trading just below the multi-month resistance formed at $2,725.

發稿時，以太坊的交易價格為2,598美元。硬幣的交易幅度略低於$ 2,725的多個月阻力。

As US-based investors appear to be locking in profits, the chart shows that the price is facing increasing pressure to move lower. A move lower could see the coin's price fall to $2,424.

由於總部位於美國的投資者似乎正在鎖定利潤，因此圖表表明，價格正面臨著越來越低的壓力。較低的舉動可能會使硬幣的價格下跌至2,424美元。

However, if the bulls manage to defend this level, then the coin's price could rise again to test the resistance level at $2,745.

但是，如果公牛設法捍衛這一水平，那麼硬幣的價格可能會再次上漲，以測試2,745美元的阻力水平。