比特币强度的以太坊激增

在比特币的价格超过108,000美元以上的电阻水平之后，以太坊开始了移动趋势。

On June 12, 2025, 10X Research drew attention to Ethereum’s recent rally, exploring the cryptocurrency’s impressive price action and momentum within the broader market environment. The report delves into the recently announced $24 billion Initial Public Offering (IPO) of Circle, which has sparked a new wave of enthusiasm around Ethereum and the cryptocurrency market in general. While some might question whether such a rally can be sustained, the reality of Ethereum and Bitcoin in the marketplace is unfolding differently, according to the analysis.

2025年6月12日，10倍的研究引起了以太坊最近的集会的关注，探索了加密货币在更广泛的市场环境中的令人印象深刻的价格行动和动力。该报告深入研究了最近宣布的240亿美元的首次公开募股（IPO），该产品围绕以太坊和加密货币市场引发了新的热情。根据分析，有些人可能会质疑这种集会是否可以维持，但市场中以太坊和比特币的现实却有所不同。

The report provides a deeper evaluation of the current situation by examining the participation of leveraged traders, the emergence of high-conviction trading pairs, and other key factors that may shape the future of Ethereum’s price.

该报告通过检查杠杆交易者的参与，高定交易对的出现以及可能影响以太坊价格未来的其他关键因素，从而对当前情况进行了更深入的评估。

After the price of Bitcoin shot past the resistance level of over $108,000, pivoting higher, Ethereum began its own moving trend. As the phenomenon of Bitcoin was unfolding and gaining traction, Ethereum was gathering its strength in the shadows. The Circle IPO is the driving force behind Ethereum’s price activity, providing the market with new liquidity and serving as a key catalyst, the report explains.

在比特币的价格超过了108,000美元以上的电阻水平，旋转更高后，以太坊开始了自己的移动趋势。随着比特币的现象正在展开并受到关注，以太坊正在在阴影中收集力量。该报告解释说，Circle IPO是以太坊价格活动背后的推动力，为市场提供了新的流动性并充当关键催化剂。

This move was amplified by the leverage that traders took on Ethereum futures as more traders entered the market to trade the setup. However, while the direction of the price change was bullish, the associated fundamental sentiment was somewhat bearish. The analysis conducted by 10X Research poses the question of whether the Ethereum rally is merely a product of temporary market enthusiasm or if there are strong and sturdy foundations behind it. The robust positions of leveraged traders have contributed to the fire, and it does not necessarily imply that Ethereum will maintain the upward trend.

随着越来越多的贸易商进入市场进行交易设置，交易者对以太坊期货的杠杆作用扩大了这一举动。但是，尽管价格变化的方向是看好的，但相关的基本情绪有些看跌。 10倍研究进行的分析提出了一个问题，即以太坊集会是否仅仅是临时市场热情的产物，还是背后有坚固而坚固的基础。杠杆交易者的强大立场为大火做出了贡献，并不一定意味着以太坊将保持向上的趋势。

Ethereum remains at critical support levels, and its fundamentals, although increasing, are not as robust as other bullish indicators suggest.

以太坊仍然处于关键支持水平，尽管增加的基本面并不像其他看涨指标那样强大。

The long-awaited IPO of Circle brought a new round of interest to Ethereum. The $24B valuation of Circle was viewed as a strong vote of confidence in the long-term viability of Ethereum, especially considering Circle’s close integration with the Ethereum network. However, 10X Research highlights that this huge capital inflow has had a temporary impact on the market, boosting the price of Ethereum.

期待已久的IPO Circle为以太坊带来了新的兴趣。 $ 24B的Circle估值被视为对以太坊的长期生存能力的强烈信任投票，尤其是考虑到Circle与以太坊网络的密切集成。但是，10倍的研究强调，这种巨大的资本流入对市场产生了暂时的影响，从而提高了以太坊的价格。

The increasing popularity of Ethereum, merging with Bitcoin being at new all-time highs, has positioned institutions to become more interested in Ethereum, especially for traders seeking to gain exposure to the blockchain ecosystem of Ethereum. As Ethereum gained momentum, the market’s mood shifted as well, transitioning from initial skepticism to a bullish attitude, which brings its own set of challenges.

以太坊越来越普及，与比特币保持在新的历史最高高位，使机构对以太坊更感兴趣，尤其是对于寻求接触以太坊区块链生态系统的交易者。随着以太坊的动力，市场的情绪也发生了变化，从最初的怀疑主义转变为看涨的态度，这带来了自己的一系列挑战。

Despite Ethereum’s advances, the relationship between Ethereum and Bitcoin remains highly correlated, and both digital assets are susceptible to a negative correction, particularly as leverage positions accumulate. A Bitcoin correction in the near future may have a significant effect on the price development of Ethereum, and the recent rise of Ethereum may be nothing more than a temporary fluctuation caused by speculators, as opposed to being a serious move based on sound fundamentals.

尽管以太坊的进步，以太坊和比特币之间的关系仍然高度相关，并且两个数字资产都容易受到负面校正的影响，尤其是随着杠杆位置的积累。在不久的将来，比特币的校正可能会对以太坊的价格发展产生重大影响，而以太坊最近的兴起可能只不过是由投机者引起的暂时波动，而不是基于合理的基本面的严重举动。

According to a report by 10X Research, it appears that the Ethereum rally has just begun, but one of the most important indications is taking shape: the high-conviction trading pairs that are forming around Ethereum. Such a development may be a sign that the present price behavior of Ethereum is being supported by an increasing number of market participants who are getting more confident in the asset, despite its price not necessarily being representative of the actual health of its fundamental basis.

根据10倍研究的报告，似乎以太坊集会才刚刚开始，但是最重要的迹象之一是形成：高罪名交易对，它们围绕以太坊形成。这样的发展可能表明，尽管其价格不一定代表其基本基础的实际健康状况，但越来越多的市场参与者支持以太坊的当前价格行为。

The analysis also highlights the need to monitor leveraged positions and their impact on the market. Next week, 10X Research encourages traders to closely monitor the ETH futures market, particularly the dominance ratio and open interest level. Institutional investors have gradually taken Ethereum as their center of attention, and its capacity to surpass critical resistance levels may result in an even more dominant view in the market.

该分析还强调了需要监视杠杆位置及其对市场的影响的必要性。下周，10倍研究鼓励交易者密切监视ETH期货市场，尤其是优势比和开放兴趣水平。机构投资者已逐渐将以太坊作为其关注中心，并且超过关键阻力水平的能力可能会导致市场上更加主导的看法。

At this juncture, 10X Research maintains a cautious outlook on the future price trend of Ethereum, emphasizing that its continued rise will require a combination of factors, including further development of the project itself, sustained investor interest, and the overall market environment towards the cryptocurrency world.

在这个关头，10倍研究对以太坊的未来价格趋势保持了谨慎的看法，强调其持续上升将需要各种因素，包括项目本身的进一步发展，持续的投资者利益以及对加密货币世界的整体市场环境。