当美国投资者退出时，以太坊拉力赛面临风险，这将如何影响ETH的价格？

在过去的一周中，领先的Altcoin以太坊在过去一周中飙升了40％以上，这在整个加密货币市场上的乐观态度引起。

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.

领先的加密货币以太坊（Crypto：ETH）在过去一周中飙升了40％以上，这在整个加密货币市场上的乐观情绪推动了。发稿时，硬币的交易价格为2,598美元，稳步高于2500美元的心理价格。

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，尽管集会进行集会，但来自CryptoQuant的新数据表明，这次集会可能正在失去动力，尤其是当美国的投资者似乎正在兑现时。

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

以下是发生什么以及接下来可能发生的事情。

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.

发生的事情：根据加密素养的说法，以太坊的Coinbase Premium指数在5月10日达到0.022，此后一直在下降。发稿时，CPI为0.0063。

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

该公司的这份新报告是因为以太坊的价格在过去一周中也上涨了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价格和主要国际交易所（例如二元）的平均价格之间的差异。它是衡量美国投资者情绪的有用指标。

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，与全球市场相比，Coinbase的交易额是溢价的，这表明来自美国机构和零售投资者的强烈购买压力。相反，对Coinbase的需求的低或负CPI信号落后于全球市场，这可能是由于美国买家的利益或减少利益所致。

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.

尽管以太坊的价格集会，CPI正在减少CPI，这意味着美国投资者正在退出自己的地位并获得利润，而不是参加集会。

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%.

以太坊的价格到每日活动的读数进一步支持了这一观察结果，这是一种将价格变动与网络活动进行比较的链型指标。根据santiment，即使以太坊的价格更高，该指标在过去几天中一直处于负面状态。发稿时，公制为-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.

该指标的负值表明，用户参与度的相应增加并不支持最近的价格上涨。从本质上讲，需求没有足够的需求推动以太坊的集会，这可能会在短期内撤回。

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：如果公牛设法捍卫价格行动，如果买家返回，那么以太坊可能会再次尝试达到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，如果熊不堪重负，如果卖方返回，那么以太坊的价格可能会降至2,424美元的支持水平。

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

如果此级别破裂，则可能会有更深层次的跌至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.

发稿时，以太坊的交易价格为2,598美元。硬币的交易幅度略低于$ 2,725的多个月阻力。

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.

由于总部位于美国的投资者似乎正在锁定利润，因此图表表明，价格正面临着越来越低的压力。较低的举动可能会使硬币的价格下跌至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，如果公牛设法捍卫这一水平，那么硬币的价格可能会再次上涨，以测试2,745美元的阻力水平。