以太坊（ETH）与比特币的价格差距可以为期待已久的反弹铺平道路

分析人士说，经过多年的表现不佳，以太坊与比特币的价格差距为期待已久的反弹铺平了道路。

May marks four years since Bitcoin (BTC) last outperformed the broader crypto market, a feat that could be repeated this year as the world’s leading cryptocurrency continues to display strength despite recent turbulence.

自比特币（BTC）上一次表现更广泛的加密货币市场以来，五月标志着四年，这一壮举可能会在今年重复，因为尽管最近动荡，但全球领先的加密货币仍在继续表现出力量。

After a period of underperformance, analysts are closely watching for any signs that could indicate a shift in momentum, especially after Ethereum (ETH) experienced a 16% decline in April alone.

经过一段时间的表现不佳，分析师正在密切关注任何可能表明动量转变的迹象，尤其是在以太坊（ETH）仅在4月份下降16％之后。

Historically, May has been kind to Ethereum, with the second-largest cryptocurrency delivering an average return of nearly 28% in May since 2016.

从历史上看，梅对以太坊一直很友善，自2016年5月以来，第二大加密货币的平均回报率近28％。

This year, however, Ethereum’s performance has been closely tied to its valuation gap with Bitcoin, which could be setting the stage for a long-awaited rebound, according to blockchain analytics firm CryptoQuant.

然而，今年，以太坊的表现与比特币的估值差距紧密相关，这可能为期待已久的篮板奠定基础。

“ETH is now extremely undervalued compared to BTC, the first time since 2019. Historically, this led to Ethereum outperforming. However, supply pressure, weak demand, and flat activity could stall a rebound,” the firm said.

该公司表示：“与BTC相比，ETH现在被低估了，这是自2019年以来的第一次。从历史上看，这导致以太坊的表现要优于表现。但是，供应压力，需求疲软和平稳的活动可能会陷入反弹。”

Chart: CryptoQuant

图表：加密量

Some members of the crypto community believe that if anything positive were to happen, insiders would already be acting in anticipation and the market would likely see the price quickly increase. Over-the-counter deals are not completely ruled out yet.

加密社区的一些成员认为，如果发生任何积极的事情，内部人士将在预期中行事，市场可能会迅速上涨。非处方交易尚未完全排除。

While Ethereum is still facing short-term pressure, the Ethereum Foundation is focused on long-term improvements with the Pectra upgrade, which aims to make decentralized apps feel more like traditional applications.

尽管以太坊仍面临短期压力，但以太坊基金会侧重于长期改善Pectra升级，pectra升级旨在使分散的应用程序更像是传统应用。

As Artemiy Parshakov, vice president of institutions at staking infrastructure provider P2P.org, previously told crypto.news, account abstraction, introduced with the Pectra update, opens up possibilities “that were simply impossible before.”

正如Staking Infrastructure提供商P2P.org的机构副总裁Artemiy Parshakov以前告诉Crypto.news，Account Account Accort Accort Account Account the Pectra Update介绍了“以前完全不可能”的可能性。

Tracy Jin, COO of cryptocurrency exchange MEXC, also sees Pectra as a chance to shift the broader market mood.

加密货币交易所MEXC的首席运营官Tracy Jin也将Pectra视为改变更广泛的市场情绪的机会。

With Bitcoin dominance now at 63.9%, nearly reaching the levels seen during the 2021 bull market, and most altcoins struggling to gain lasting traction beyond hype-driven spikes, Jin said the Pectra upgrade offers a “rare opportunity to flip the script in favour of altcoins.”

现在，比特币优势为63.9％，几乎达到了2021年牛市中所看到的水平，而且大多数替代超越炒作驱动的尖峰的替代量的高级币表示，pectra升级提供了“难得的机会，可以将剧本倾斜脚本以支持Altcoins。”