<h2><strong>关键要点</strong></h2>
<p><em>8 月 1 日，随着价格跌破$3,550，流入交易所的以太坊达到 200.5K，这对短期内的 ETH 多头并不乐观。价格下跌是否会持续，可能会跌多深？</em></p>
<hr/>
<p>以太坊 [ETH] 的交易价格低于自 7 月 18 日以来一直作为支撑的$3,550 水平。</p>
<p>这款山寨币形成了一个短期区间，范围从$3,550 到$3,860。跌破短期支撑意味着可能会下探到$3.2k 甚至$3k。</p>
<h2><strong>鲸鱼和内部人士的动作增加了看跌压力</strong></h2>
<p>在 X 上的一篇帖子中，LookonChain 透露，一只鲸鱼在 48 小时内向包括 Binance 和 Kraken 在内的热门中心化交易所存入了 26,182 ETH。</p>
<p>这一流入的时机暗示了潜在的卖压正在积聚。</p>
<p>Lookonchain 还观察到，BitMEX 的联合创始人 Arthur Hayes 出售了 2,373 ETH，价值 830 万美元。</p>
<p>他还出售了价值 462 万美元的 7.76 百万 Ethena [ENA]，这让人质疑大型 ENA 持有者的看涨信念。</p>
<p>随着看跌趋势的加剧，Coinalyze 的数据表明，过去 24 小时内的未平仓合约（OI）下降了 5.47%。</p>
<p>融资利率仍然为正，但未平仓合约和价格的下降显示出主导的看跌情绪。</p>
<h2><strong>8 月以大量以太坊流出开始</strong></h2>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/08/Ethereum-Netflow.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/08/Ethereum-Netflow.png"/></p>
<p>来源：CryptoQuant</p>
<p>根据 CryptoQuant 的数据，7 天平均以太坊交易所净流量在整个 7 月保持负值，目前为-16,644 ETH。这表明持续的积累。</p>
<p>然而，8 月 1 日，流入交易所的以太坊达到了 200,573。这是潜在卖出的迹象，尤其是在伴随强烈的链上活动时。然而，一天的流动可能无法决定价格趋势。</p>
<h2><strong>价格目标和结构反转</strong></h2>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/08/Ethereum-12-hour-Chart.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/08/Ethereum-12-hour-Chart.png"/></p>
<p>来源：TradingView 上的 ETH/USDT</p>
<p>市场结构可以更好地了解当前的趋势。在最新的交易时段，12 小时的 Awesome Oscillator 跌破了零。</p>
<p>更重要的是，以太坊已跌破$3,550 的区间低点（橙色）。</p>
<p>$3.2k 的公允价值缺口（白色）以及 7 月早些时候的支撑位$2,936 是 ETH 的下一个目标。50 期移动平均线（绿色）在最近几个小时内作为动态支撑。</p>
<p>如果失败，将使看跌的论点更强。</p>

ETHE

<p>以太坊的价格承压，交易价格低于 $3,550，流入交易所的 200,500 个 ETH 显示出潜在的卖出压力。鲸鱼活动，包括大额存款和内部人士的销售，进一步加剧了看跌情绪。市场结构表明可能会下跌至 $3,200 或甚至 $3,000，因为 12 小时的强势振荡器跌破零线，未平仓合约减少。尽管七月份出现了负净流入，但最近流入交易所的 ETH 使人们对未来价格趋势感到担忧</p>

<h2><strong>Key Takeaways</strong></h2>
<div class="lb-trans"><h2><strong>关键要点</strong></h2>
</div><p><em>A 200.5K Ethereum inflow to exchanges on the 1st of August, as the price fell below the $3,550 mark, did not bode well for ETH bulls in the short term. Will the price dip continue, and how deep could it go?</em></p>
<div class="lb-trans"><p><em>8 月 1 日，随着价格跌破$3,550，流入交易所的以太坊达到 200.5K，这对短期内的 ETH 多头并不乐观。价格下跌是否会持续，可能会跌多深？</em></p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><p>Ethereum [ETH] was trading below the $3,550 level that has acted as a support since the 18th of July.</p>
<div class="lb-trans"><p>以太坊 [ETH] 的交易价格低于自 7 月 18 日以来一直作为支撑的$3,550 水平。</p>
</div><p>The altcoin had formed a short-term range that reached from $3,550 to $3,860. Its descent below the short-term support meant that a move to $3.2k or even $3k was possible.</p>
<div class="lb-trans"><p>这款山寨币形成了一个短期区间，范围从$3,550 到$3,860。跌破短期支撑意味着可能会下探到$3.2k 甚至$3k。</p>
</div><h2><strong>Whale and insider moves add to bearish pressure</strong></h2>
<div class="lb-trans"><h2><strong>鲸鱼和内部人士的动作增加了看跌压力</strong></h2>
</div><p>In a post on X, LookonChain revealed that a whale had deposited 26,182 ETH in 48 hours to popular centralized exchanges, including Binance and Kraken.</p>
<div class="lb-trans"><p>在 X 上的一篇帖子中，LookonChain 透露，一只鲸鱼在 48 小时内向包括 Binance 和 Kraken 在内的热门中心化交易所存入了 26,182 ETH。</p>
</div><p>The timing of this inflow suggests potential sell pressure building.</p>
<div class="lb-trans"><p>这一流入的时机暗示了潜在的卖压正在积聚。</p>
</div><p>Lookonchain also observed that BitMEX co-founder Arthur Hayes had sold 2,373 ETH, worth $8.32 million.</p>
<div class="lb-trans"><p>Lookonchain 还观察到，BitMEX 的联合创始人 Arthur Hayes 出售了 2,373 ETH，价值 830 万美元。</p>
</div><p>He also sold 7.76 million Ethena [ENA] worth $4.62 million, calling into question the assumption of bullish conviction from large ENA holders.</p>
<div class="lb-trans"><p>他还出售了价值 462 万美元的 7.76 百万 Ethena [ENA]，这让人质疑大型 ENA 持有者的看涨信念。</p>
</div><p>Adding to the bearish trend, Coinalyze data showed that Open Interest (OI) was down 5.47%, at press time, in the past 24 hours.</p>
<div class="lb-trans"><p>随着看跌趋势的加剧，Coinalyze 的数据表明，过去 24 小时内的未平仓合约（OI）下降了 5.47%。</p>
</div><p>The Funding Rate was still positive, but the dropping OI and price showed dominant bearish sentiment.</p>
<div class="lb-trans"><p>融资利率仍然为正，但未平仓合约和价格的下降显示出主导的看跌情绪。</p>
</div><h2><strong>August begins with heavy Ethereum outflows</strong></h2>
<div class="lb-trans"><h2><strong>8 月以大量以太坊流出开始</strong></h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/08/Ethereum-Netflow.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/08/Ethereum-Netflow.png"/></p>
<p>Source: CryptoQuant</p>
<div class="lb-trans"><p>来源：CryptoQuant</p>
</div><p>According to CryptoQuant, the 7-day average of Ethereum Exchange Netflows remained negative throughout July, printing -16,644 ETH at press time. This indicates consistent accumulation.</p>
<div class="lb-trans"><p>根据 CryptoQuant 的数据，7 天平均以太坊交易所净流量在整个 7 月保持负值，目前为-16,644 ETH。这表明持续的积累。</p>
</div><p>However, the 1st of August saw 200,573 Ethereum flow into exchanges. This was a sign of potential selling, especially when coupled with intense on-chain activity. However, one day’s flow might not decide the price trend.</p>
<div class="lb-trans"><p>然而，8 月 1 日，流入交易所的以太坊达到了 200,573。这是潜在卖出的迹象，尤其是在伴随强烈的链上活动时。然而，一天的流动可能无法决定价格趋势。</p>
</div><h2><strong>Price targets and structure flip</strong></h2>
<div class="lb-trans"><h2><strong>价格目标和结构反转</strong></h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/08/Ethereum-12-hour-Chart.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/08/Ethereum-12-hour-Chart.png"/></p>
<p>Source: ETH/USDT on TradingView</p>
<div class="lb-trans"><p>来源：TradingView 上的 ETH/USDT</p>
</div><p>The market structure could give a better idea of the prevalent trend. At press time, the 12-hour timeframe’s Awesome Oscillator dipped below zero in the most recent trading session.</p>
<div class="lb-trans"><p>市场结构可以更好地了解当前的趋势。在最新的交易时段，12 小时的 Awesome Oscillator 跌破了零。</p>
</div><p>More importantly, Ethereum had fallen below the range low (orange) at $3,550.</p>
<div class="lb-trans"><p>更重要的是，以太坊已跌破$3,550 的区间低点（橙色）。</p>
</div><p>The Fair Value Gap (white) at $3.2k, and the support from earlier in July at $2,936, were the next targets for ETH. The 50-period Moving Average (green) has served as a dynamic support in recent hours.</p>
<div class="lb-trans"><p>$3.2k 的公允价值缺口（白色）以及 7 月早些时候的支撑位$2,936 是 ETH 的下一个目标。50 期移动平均线（绿色）在最近几个小时内作为动态支撑。</p>
</div><p>Its failure would make the bearish case stronger.</p>
<div class="lb-trans"><p>如果失败，将使看跌的论点更强。</p>
</div>

以太坊——三个迹象表明 ETH 价格可能跌至 3200 美元