当价格摊位

以太坊的价格继续徘徊在$ 1,700大关附近，努力摆脱当前范围

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.”

以太坊的价格继续在有限的范围内进行交易，努力摆脱目前的合并。尽管有几次尝试提高的尝试，但该资产仍未筹集出巨大的势头 - 这一发展引发了大型投资者或“鲸鱼”的抛售浪潮。

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.

根据Beincrypto的数据，在过去三天中，持有100,000至100万ETH的钱包售出了超过119万ETH，价值超过18亿美元。

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这一激进的举动是为了减少曝光率引起的潜在情绪转变，因为鲸鱼似乎正在退出其职位并亏损。

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.

这些抛售也增加了现有的看跌压力，使以太坊的价格降低并震撼了投资者的信心。对于许多人来说，这表明人们对ETH的近期恢复潜力越来越乐观。

MVRV Data Signals Deepening Losses

MVRV数据信号加深损失

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.

除看跌的叙述外，已实现价值的市场价值（MVRV）长/短差异（一个关键的盈利能力指标）目前处于深-29％的深度-29％。这表明长期ETH持有人正在亏本，并且可能在重新占领之前等待更有利的宏观环境。

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

同时，短期持有人（STH）在利润中倾向于迅速销售，从而使以太坊的波动和弱点更加复杂。

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.

随着鲸鱼抛售的安装和长期持有者在压力下，以太坊似乎陷入困境。超过1,700美元的突破可能会重新启动看涨的势头，但是如果宏观条件或机构买家的需求发生重大变化，前进的道路仍然不确定。

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

目前，以太坊交易者将密切关注鲸鱼活动，因为任何进一步的倾销都可以将ETH拖到降低支持水平。