以太坊与比特币：分析师将ETH与90年代的技术库存进行比较，而ETF流入飙升

分析师正在以太坊和高增长技术库存之间的相似之处，同时警告其集会中的潜在脆弱性。 Eth是新黄金还是其他东西？

Ethereum vs. Bitcoin: Analyst Compares ETH to '90s Tech Stocks as ETF Inflows Soar

以太坊与比特币：分析师将ETH与90年代的技术库存进行比较，而ETF流入飙升

Ethereum's surge has caught everyone's attention, but is it built to last? Recent analysis compares ETH to '90s tech stocks, highlighting both its potential and potential vulnerabilities.

以太坊的激增吸引了每个人的注意力，但是它可以持久吗？最近的分析将ETH与90年代的科技股进行了比较，强调了其潜在脆弱性和潜在漏洞。

Ethereum's Meteoric Rise: The Numbers

以太坊的迅速崛起：数字

Ethereum (ETH) has been on a tear, boasting its best monthly return in three years, a staggering 56%. This surge outpaces Bitcoin's gains, which, while still impressive at over 10% monthly, are considerably lower. Over the last three months, Ethereum has gained over 113%, while Bitcoin is around 27%.

以太坊（ETH）一直流泪，拥有三年来最好的每月回报，惊人的56％。这种激增的收益超过了比特币的收益，虽然每月超过10％，但仍令人印象深刻，但要低得多。在过去的三个月中，以太坊上涨了113％以上，而比特币约为27％。

'90s Tech Stock Vibes: Analyst Weighs In

90年代技术股票共鸣：分析师的权重

Bloomberg Senior ETF analyst Eric Balchunas is making waves by likening Ethereum to the tech stocks of the 1990s. He points to the strong inflows into spot ETH ETFs as a key driver of this performance. Unlike Bitcoin's narrative as “new gold,” Ethereum is seeing accelerating adoption and network growth, similar to early tech companies.

彭博高级ETF分析师埃里克·巴尔库纳斯（Eric Balchunas）通过将以太坊比作1990年代的科技股来引起轰动。他指出，作为这一表现的关键动力，他的强劲流入成为现状ETH。与比特币作为“新黄金”的叙述不同，以太坊正在看到与早期科技公司相似的采用和网络增长。

Spot Ether ETFs have recorded a 19-day streak of net inflows this month, marking a historical high. This reinforces the idea that altcoin ETFs operate more like '90s tech stocks than Bitcoin's “new gold” appeal.

Ether ETF在本月的净流入量为19天，标志着历史上的高度。这加强了Altcoin ETF的运作比比特币的“新黄金”吸引力更像90年代科技股的想法。

The Coinbase Premium Index: A Warning Sign?

Coinbase Premium指数：警告标志？

However, not all signals are bullish. The Coinbase Premium Index, which measures the price difference between Ethereum on Coinbase and other global exchanges, has plunged to its lowest level since May, reaching -0.01. This suggests a potential dip in demand from major American institutions, which could weaken the foundation of ETH’s rally.

但是，并非所有信号都是看好的。 Coinbase Premium指数衡量了Coinbase和其他全球交易所之间以太坊之间的价格差异，自5月以来一直跌至其最低水平，达到-0.01。这表明美国主要机构的需求可能会下降，这可能会削弱ETH集会的基础。

Technical Indicators: Mixed Signals

技术指标：混合信号

Technical analysis adds another layer of complexity. While the On-Balance Volume (OBV) follows the bullish price trend, the Chaikin Money Flow (CMF) shows a bearish divergence, indicating weakening buying pressure. Ethereum is also evolving within a rising wedge, a pattern often considered bearish as it suggests a slowdown in bullish momentum.

技术分析增加了另一层复杂性。虽然平衡量（OVER）遵循看涨的价格趋势，但Chaikin货币流量（CMF）显示出看跌的差异，表明购买压力减弱了。以太坊也在在上升的楔形中发展，这种模式通常被认为是看跌的，因为它暗示了看涨势头的放缓。

For the bearish scenario to be invalidated, Ethereum’s price will need to break and hold above $4,024, a key resistance level. Otherwise, Ethereum could retest support at $3,510.

为了使看跌场景无效，以太坊的价格将需要打破并保持超过4,024美元，这是一个关键阻力水平。否则，以太坊可能以3,510美元的价格重新获得支持。

A Word of Caution

谨慎

On-chain and technical signals suggest that Ethereum’s current rally might rest on more fragile foundations than it appears. The decrease in American institutional demand, combined with mixed technical indicators, points to an increased risk of a trend reversal in the short term. Investors would be well advised to remain vigilant against a potential bull trap.

链上和技术信号表明，以太坊目前的集会可能基于比看起来更脆弱的基础。美国机构需求的减少，加上混合技术指标，这表明短期内趋势逆转的风险增加。建议投资者对潜在的牛陷阱保持警惕。

The Bottom Line

底线

So, is Ethereum the new gold, or the next Amazon? The truth, as always, is probably somewhere in between. While the '90s tech stock comparison is compelling, especially given the ETF inflows, it's crucial to stay grounded and keep an eye on those technical indicators. After all, even the most promising tech stocks can hit a bump in the road. Keep your eyes peeled, and happy investing!

那么，以太坊是新黄金还是下一个亚马逊？事实一如既往，可能在介于两者之间。虽然90年代的科技库存比较令人信服，尤其是考虑到ETF流入，但至关重要的是保持扎根并关注这些技术指标。毕竟，即使是最有前途的科技股也可能会在道路上遇到颠簸。保持眼睛剥落，并开心投资！