以太坊的零售差距提出了更多上行空間

根據鍊鍊數據提供商加利證的最新分析，以太坊的當前市場動態揭示了零售投資者的顯著缺乏

The crypto market has seen some interesting trends in recent times, especially with the absence of retail traders in Ethereum's rally, a factor that might signal the rally is far from over yet.

加密市場近代已經看到了一些有趣的趨勢，尤其是在以太坊集會中沒有零售商人的情況下，這可能表明集會還遠遠沒有結束。

According to a recent analysis by on-chain data provider CryptoQuant, Ethereum's current market dynamics are revealing a notable absence of retail investors. This is a surprising turn of events, considering the common narrative that altcoins tend to attract more retail interest during bull markets.

根據鏈上數據提供商加密富特的最新分析，以太坊的當前市場動態表明零售投資者顯著缺席。考慮到altcoins在牛市期間傾向於吸引更多零售興趣的常見敘述，這是一個令人驚訝的事件。

Historically, Ethereum has shown clear patterns during bull markets. In the 2021 cycle, retail trading frequency spiked significantly every time ETH reached a local top. Retail traders, often seen entering late, typically marked the final leg of big price moves. But this time around, the setup looks different.

從歷史上看，以太坊在牛市上表現出明顯的模式。在2021週期中，每當ETH到達本地頂部時，零售交易頻率都會大大提高。零售交易員經常看到遲到，通常標誌著最終的大價動作。但是這次，設置看起來有所不同。

Despite Bitcoin's impressive surge from $16,000 to over $111,000, Ethereum hasn't matched the traditional altcoin outperformance narrative. CryptoQuant notes a brief rise in retail interest in December 2024 — marked visually by green dots in their data models — but this momentum was quickly stifled by market jitters.

儘管比特幣令人印象深刻的收益從16,000美元到111,000美元以上，但以太坊尚未與傳統的Altcoin效果較高的敘述相匹配。 CryptoQuant指出，2024年12月，零售利益的短暫上升，其數據模型中是由綠色點進行視覺標記的 - 但是這種勢頭很快就被市場煩惱所扼殺。

President Trump's aggressive tariff policies sparked turbulence in the market, ultimately burning through the sliver of retail interest in Ethereum just as it was beginning to build.

特朗普總統的積極關稅政策在市場上引發了動盪，最終通過以太坊的零售興趣燃燒，就像它開始建設一樣。

That drop-off suggests retail investors are still sitting on the sidelines, potentially waiting for clearer signals or more favorable conditions before returning in greater numbers.

該下車錶明，零售投資者仍在旁觀者旁，有可能等待更清晰的信號或更有利的條件，然後再返回更多。

What It Means for Ethereum's Price Action

這對以太坊的價格行動意味著什麼

CryptoQuant's analysts suggest that this subdued retail presence might be bullish in disguise. In many past cycles, retail buyers entered late — meaning their absence could point to ETH still being in the early stages of a broader rally. With retail yet to fully jump in, there could be "unpriced upside" left in Ethereum.

加密的分析師表明，這種柔和的零售存在可能是偽裝的。在過去的許多周期中，零售買家進入遲到 - 這意味著他們的缺席可能表明ETH仍處於更廣泛的集會的早期階段。隨著零售業尚未完全跳入，以太坊可能還會留下“無價上漲”。