當價格攤位

以太坊的價格繼續徘徊在$ 1,700大關附近，努力擺脫當前範圍

Ethereum’s price continues to trade in a limited range, struggling to break out of its current consolidation. Despite several attempts to push higher, the asset has failed to gather significant momentum — a development that has triggered a wave of sell-offs from large investors, or “whales.”

以太坊的價格繼續在有限的範圍內進行交易，努力擺脫目前的合併。儘管有幾次嘗試提高的嘗試，但該資產仍未籌集出巨大的勢頭 - 這一發展引發了大型投資者或“鯨魚”的拋售浪潮。

According to data from beincrypto, wallets holding between 100,000 and 1 million ETH have sold more than 1.19 million ETH in just the past three days — a value exceeding $1.8 billion.

根據Beincrypto的數據，在過去三天中，持有100,000至100萬ETH的錢包售出了超過119萬ETH，價值超過18億美元。

This aggressive move by Ethereum’s largest holders to reduce exposure alludes to a potential shift in sentiment, as whales appear to be exiting their positions and selling at a loss.

以太坊最大的持有人的這一激進的舉動是為了減少曝光率引起的潛在情緒轉變，因為鯨魚似乎正在退出其職位並虧損。

These sell-offs have also added to the existing bearish pressure, pulling Ethereum’s price lower and shaking investor confidence. For many, this signals a growing lack of optimism around ETH’s near-term recovery potential.

這些拋售也增加了現有的看跌壓力，使以太坊的價格降低並震撼了投資者的信心。對於許多人來說，這表明人們對ETH的近期恢復潛力越來越樂觀。

MVRV Data Signals Deepening Losses

MVRV數據信號加深損失

Adding to the bearish narrative, the Market Value to Realized Value (MVRV) Long/Short Difference — a key profitability indicator — currently sits at a deeply negative -29%. This suggests that long-term ETH holders are holding at a loss, and could be waiting for a more favorable macro environment before re-accumulating.

除看跌的敘述外，已實現價值的市場價值（MVRV）長/短差異（一個關鍵的盈利能力指標）目前處於深-29％的深度-29％。這表明長期ETH持有人正在虧本，並且可能在重新佔領之前等待更有利的宏觀環境。

Meanwhile, short-term holders (STHs) tend to sell quickly when in profit, compounding Ethereum’s volatility and weakness.

同時，短期持有人（STH）在利潤中傾向於迅速銷售，從而使以太坊的波動和弱點更加複雜。

With whale sell-offs mounting and long-term holders under pressure, Ethereum appears stuck in limbo. A breakout above $1,700 could reignite bullish momentum, but without a major shift in macro conditions or demand from institutional buyers, the path forward remains uncertain.

隨著鯨魚拋售的安裝和長期持有者在壓力下，以太坊似乎陷入困境。超過1,700美元的突破可能會重新啟動看漲的勢頭，但是如果宏觀條件或機構買家的需求發生重大變化，前進的道路仍然不確定。

For now, Ethereum traders will be watching whale activity closely — as any further dumping could drag ETH to lower support levels.

目前，以太坊交易者將密切關注鯨魚活動，因為任何進一步的傾銷都可以將ETH拖到降低支持水平。