<h2><strong>关键要点</strong></h2>
<h3><em>为什么以太坊面临潜在的卖压？</em></h3>
<p>约 216 万 ETH（价值 88.9 亿美元）计划解除质押，这可能造成供应冲击，超出市场需求，导致 ETH 价格下跌。</p>
<h3><em>在看跌情绪中，ETH 能否保持在$4,000 以上？</em></h3>
<p>由于交易所的提款处于六年来的最低水平，除非买方情绪改善，否则 ETH 面临跌破$4,000 的风险。</p>
<hr/>
<p>市场情绪表明，全球第二大加密货币以太坊 [ETH]，市值为 4960 亿美元，可能即将失去$4,000 的支撑。</p>
<p>尽管日内上涨 2.59%，交易量达到 280 亿美元，但截至 9 月 22 日的一周内，机构流出达到了 7.9541 亿美元。</p>
<p>这表明供应压力正在加大，可能对以太坊在各个市场领域的短期和长期价值造成重大影响。</p>
<h2>大量供应即将解锁</h2>
<p>以太坊面临重大供应冲击的风险，约 216 万 ETH 计划解除质押。</p>
<p>这笔金额价值 88.9 亿美元，平均等待期为 37 天，意味着供应压力不会立即影响市场。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/09/52BA61B3-4B34-4BC1-AB0D-B9B616347A49.jpeg?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/2025/09/52BA61B3-4B34-4BC1-AB0D-B9B616347A49.jpeg"/></p>
<p>来源：CryptoPlate</p>
<p>投资者计划解除质押的大量 ETH 警告称，市场上可能会出现超过需求能够吸收的代币。</p>
<p>投资者已经开始调整头寸。桥接净流出数据显示，在过去 24 小时内，超过 1300 万美元的 ETH 离开了交易所，这是在该时间段内从任何区块链桥接的最大金额。</p>
<h2>卖压正在逐渐增加</h2>
<p>根据 CryptoQuant 的数据，交易所提款交易已降至 2018 年以来的最低水平。</p>
<p>过去一天记录了约 37,000 笔交易，反映出投资者乐观情绪减弱，可能导致需求紧缩。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/09/Ethereum-Exchange-Withdrawing-Transactions-All-Exchanges.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/2025/09/Ethereum-Exchange-Withdrawing-Transactions-All-Exchanges.png"/></p>
<p>来源：CryptoQuant</p>
<p>有趣的是，这一活动的下降并未与交易所储备相匹配，后者保持相对平稳。平稳的储备表明现货投资者对长期持有或获利了结仍然犹豫不决。</p>
<p>然而，随着更多 ETH 被持有在储备中，突发抛售的风险依然较高，市场可能面临重大压力。</p>
<p>情绪的变化可能决定以太坊是否能够维持反弹或继续挣扎。</p>
<h2>清算图表暗示可能下跌</h2>
<p>CoinGlass 上的清算图表显示，长短头寸的杠杆集中。</p>
<p>在多头方面，最大的流动性集群位于$4,147 水平，面临 4950 万美元的风险。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/09/Screenshot-2025-09-29-at-08.35.39.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/2025/09/Screenshot-2025-09-29-at-08.35.39.png"/></p>
<p>来源：CoinGlass</p>
<p>与此同时，空头方面的杠杆更重，仅$3,906 水平就承载着 6.1896 亿美元的流动性。</p>
<p>这种不平衡表明下行压力更大，增加了以太坊失去$4,000 支撑的可能性。</p>

ETHE

<p>以太坊面临潜在的卖压，因为 216 万 ETH（价值 88.9 亿美元）即将解除质押，这可能导致供应冲击，进而将价格压低至 4000 美元以下。尽管最近日涨幅为 2.59%，但机构资金流出达 7.9541 亿美元，显示出日益增长的供应压力。交易所的提现量处于六年来的低点，反映出投资者的乐观情绪减弱。清算图显示多头和空头头寸均存在显著杠杆，暗示 ETH 面临下行压力的可能性更高</p>

<h2><strong>Key Takeaways</strong></h2>
<div class="lb-trans"><h2><strong>关键要点</strong></h2>
</div><h3><em>Why is Ethereum facing potential selling pressure?</em></h3>
<div class="lb-trans"><h3><em>为什么以太坊面临潜在的卖压？</em></h3>
</div><p>Around 2.16 million ETH (worth $8.89 billion) are scheduled to unstake, creating a potential supply shock that could overwhelm market demand and push ETH prices lower.</p>
<div class="lb-trans"><p>约 216 万 ETH（价值 88.9 亿美元）计划解除质押，这可能造成供应冲击，超出市场需求，导致 ETH 价格下跌。</p>
</div><h3><em>Will ETH hold above $4,000 amid bearish sentiment?</em></h3>
<div class="lb-trans"><h3><em>在看跌情绪中，ETH 能否保持在$4,000 以上？</em></h3>
</div><p>With exchange withdrawals at a 6-year low, ETH risks breaking below the $4,000 level unless buyer sentiment improves.</p>
<div class="lb-trans"><p>由于交易所的提款处于六年来的最低水平，除非买方情绪改善，否则 ETH 面临跌破$4,000 的风险。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><p>Market sentiment suggests that the world’s second-largest cryptocurrency, Ethereum [ETH], with a market capitalization of $496 billion, may be on the verge of losing its $4,000 mark.</p>
<div class="lb-trans"><p>市场情绪表明，全球第二大加密货币以太坊 [ETH]，市值为 4960 亿美元，可能即将失去$4,000 的支撑。</p>
</div><p>Despite a daily gain of 2.59% and rising trading volume at $28 billion, institutional outflows reached $795.41 million in the week ending the 22nd of September 22.</p>
<div class="lb-trans"><p>尽管日内上涨 2.59%，交易量达到 280 亿美元，但截至 9 月 22 日的一周内，机构流出达到了 7.9541 亿美元。</p>
</div><p>This indicated a growing supply pressure that could weigh heavily on Ether’s short- and long-term value across market segments.</p>
<div class="lb-trans"><p>这表明供应压力正在加大，可能对以太坊在各个市场领域的短期和长期价值造成重大影响。</p>
</div><h2>Massive supply set to be unlocked</h2>
<div class="lb-trans"><h2>大量供应即将解锁</h2>
</div><p>Ether faces the risk of a major supply shock, with roughly 2.16 million ETH scheduled for unstaking.</p>
<div class="lb-trans"><p>以太坊面临重大供应冲击的风险，约 216 万 ETH 计划解除质押。</p>
</div><p>This amount, valued at $8.89 billion, carries an average waiting period of 37 days before release, suggesting the supply pressure will not hit the market immediately.</p>
<div class="lb-trans"><p>这笔金额价值 88.9 亿美元，平均等待期为 37 天，意味着供应压力不会立即影响市场。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/09/52BA61B3-4B34-4BC1-AB0D-B9B616347A49.jpeg" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/09/52BA61B3-4B34-4BC1-AB0D-B9B616347A49.jpeg"/></p>
<p>Source: CryptoPlate</p>
<div class="lb-trans"><p>来源：CryptoPlate</p>
</div><p>The large amount of ETH investors plan to unstake warns that more tokens could hit the market than demand can absorb.</p>
<div class="lb-trans"><p>投资者计划解除质押的大量 ETH 警告称，市场上可能会出现超过需求能够吸收的代币。</p>
</div><p>Investors have already started shifting positions. Bridged netflow data shows that over $13 million worth of ETH left exchanges in the past 24 hours—the largest amount bridged from any blockchain during that timeframe.</p>
<div class="lb-trans"><p>投资者已经开始调整头寸。桥接净流出数据显示，在过去 24 小时内，超过 1300 万美元的 ETH 离开了交易所，这是在该时间段内从任何区块链桥接的最大金额。</p>
</div><h2>Selling pressure is gradually building</h2>
<div class="lb-trans"><h2>卖压正在逐渐增加</h2>
</div><p>Exchange withdrawal transactions have fallen to their lowest level since 2018, according to CryptoQuant.</p>
<div class="lb-trans"><p>根据 CryptoQuant 的数据，交易所提款交易已降至 2018 年以来的最低水平。</p>
</div><p>Roughly 37,000 transactions were recorded in the past day, reflecting weaker investor optimism and pointing to a potential demand squeeze.</p>
<div class="lb-trans"><p>过去一天记录了约 37,000 笔交易，反映出投资者乐观情绪减弱，可能导致需求紧缩。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/09/Ethereum-Exchange-Withdrawing-Transactions-All-Exchanges.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/09/Ethereum-Exchange-Withdrawing-Transactions-All-Exchanges.png"/></p>
<p>Source: CryptoQuant</p>
<div class="lb-trans"><p>来源：CryptoQuant</p>
</div><p>Interestingly, this drop in activity did not match exchange reserves, which stayed relatively flat. A flat reserve suggests that spot investors remain undecided about holding long term or selling for profit.</p>
<div class="lb-trans"><p>有趣的是，这一活动的下降并未与交易所储备相匹配，后者保持相对平稳。平稳的储备表明现货投资者对长期持有或获利了结仍然犹豫不决。</p>
</div><p>However, with more ETH held in reserve, the risk of a sudden sell-off remains elevated, and the market could face significant pressure.</p>
<div class="lb-trans"><p>然而，随着更多 ETH 被持有在储备中，突发抛售的风险依然较高，市场可能面临重大压力。</p>
</div><p>A shift in sentiment will likely determine whether Ether can sustain a rally or continue to struggle.</p>
<div class="lb-trans"><p>情绪的变化可能决定以太坊是否能够维持反弹或继续挣扎。</p>
</div><h2>Liquidation map suggest a trade lower</h2>
<div class="lb-trans"><h2>清算图表暗示可能下跌</h2>
</div><p>The liquidation map on CoinGlass shows concentrated leverage across both long and short positions.</p>
<div class="lb-trans"><p>CoinGlass 上的清算图表显示，长短头寸的杠杆集中。</p>
</div><p>On the long side, the largest liquidity cluster sat at the $4,147 level, with $49.5 million at risk.</p>
<div class="lb-trans"><p>在多头方面，最大的流动性集群位于$4,147 水平，面临 4950 万美元的风险。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/09/Screenshot-2025-09-29-at-08.35.39.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/09/Screenshot-2025-09-29-at-08.35.39.png"/></p>
<p>Source: CoinGlass</p>
<div class="lb-trans"><p>来源：CoinGlass</p>
</div><p>Meanwhile, the short side holds far heavier leverage, with the $3,906 level alone carrying $618.96 million in liquidity.</p>
<div class="lb-trans"><p>与此同时，空头方面的杠杆更重，仅$3,906 水平就承载着 6.1896 亿美元的流动性。</p>
</div><p>This imbalance suggests that downside pressure is more likely, raising the probability that Ether could lose its grip on the $4,000 level.</p>
<div class="lb-trans"><p>这种不平衡表明下行压力更大，增加了以太坊失去$4,000 支撑的可能性。</p>
</div>

2.16 百万以太坊解锁倒计时：这对市场有何影响