<h2><strong>關鍵要點</strong></h2>
<h3><em>為什麼以太坊面臨潛在的賣壓？</em></h3>
<p>約 216 萬 ETH（價值 88.9 億美元）計劃解除質押，這可能造成供應衝擊，超出市場需求，導致 ETH 價格下跌。</p>
<h3><em>在看跌情緒中，ETH 能否保持在$4,000 以上？</em></h3>
<p>由於交易所的提款處於六年來的最低水平，除非買方情緒改善，否則 ETH 面臨跌破$4,000 的風險。</p>
<hr/>
<p>市場情緒表明，全球第二大加密貨幣以太坊 [ETH]，市值為 4960 億美元，可能即將失去$4,000 的支撐。</p>
<p>儘管日內上漲 2.59%，交易量達到 280 億美元，但截至 9 月 22 日的一週內，機構流出達到了 7.9541 億美元。</p>
<p>這表明供應壓力正在加大，可能對以太坊在各個市場領域的短期和長期價值造成重大影響。</p>
<h2>大量供應即將解鎖</h2>
<p>以太坊面臨重大供應衝擊的風險，約 216 萬 ETH 計劃解除質押。</p>
<p>這筆金額價值 88.9 億美元，平均等待期為 37 天，意味着供應壓力不會立即影響市場。</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>來源：CryptoPlate</p>
<p>投資者計劃解除質押的大量 ETH 警告稱，市場上可能會出現超過需求能夠吸收的代幣。</p>
<p>投資者已經開始調整頭寸。橋接淨流出數據顯示，在過去 24 小時內，超過 1300 萬美元的 ETH 離開了交易所，這是在該時間段內從任何區塊鏈橋接的最大金額。</p>
<h2>賣壓正在逐漸增加</h2>
<p>根據 CryptoQuant 的數據，交易所提款交易已降至 2018 年以來的最低水平。</p>
<p>過去一天記錄了約 37,000 筆交易，反映出投資者樂觀情緒減弱，可能導致需求緊縮。</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>來源：CryptoQuant</p>
<p>有趣的是，這一活動的下降並未與交易所儲備相匹配，後者保持相對平穩。平穩的儲備表明現貨投資者對長期持有或獲利了結仍然猶豫不決。</p>
<p>然而，隨着更多 ETH 被持有在儲備中，突發拋售的風險依然較高，市場可能面臨重大壓力。</p>
<p>情緒的變化可能決定以太坊是否能夠維持反彈或繼續掙扎。</p>
<h2>清算圖表暗示可能下跌</h2>
<p>CoinGlass 上的清算圖表顯示，長短頭寸的槓桿集中。</p>
<p>在多頭方面，最大的流動性集羣位於$4,147 水平，面臨 4950 萬美元的風險。</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>來源：CoinGlass</p>
<p>與此同時，空頭方面的槓桿更重，僅$3,906 水平就承載着 6.1896 億美元的流動性。</p>
<p>這種不平衡表明下行壓力更大，增加了以太坊失去$4,000 支撐的可能性。</p>

ETHE

<p>以太坊面臨潛在的賣壓，因為 216 萬 ETH（價值 88.9 億美元）即將解除質押，這可能導致供應衝擊，進而將價格壓低至 4000 美元以下。儘管最近日漲幅為 2.59%，但機構資金流出達 7.9541 億美元，顯示出日益增長的供應壓力。交易所的提現量處於六年來的低點，反映出投資者的樂觀情緒減弱。清算圖顯示多頭和空頭頭寸均存在顯著槓桿，暗示 ETH 面臨下行壓力的可能性更高</p>

<h2><strong>Key Takeaways</strong></h2>
<div class="lb-trans"><h2><strong>關鍵要點</strong></h2>
</div><h3><em>Why is Ethereum facing potential selling pressure?</em></h3>
<div class="lb-trans"><h3><em>為什麼以太坊面臨潛在的賣壓？</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>約 216 萬 ETH（價值 88.9 億美元）計劃解除質押，這可能造成供應衝擊，超出市場需求，導致 ETH 價格下跌。</p>
</div><h3><em>Will ETH hold above $4,000 amid bearish sentiment?</em></h3>
<div class="lb-trans"><h3><em>在看跌情緒中，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>由於交易所的提款處於六年來的最低水平，除非買方情緒改善，否則 ETH 面臨跌破$4,000 的風險。</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>市場情緒表明，全球第二大加密貨幣以太坊 [ETH]，市值為 4960 億美元，可能即將失去$4,000 的支撐。</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>儘管日內上漲 2.59%，交易量達到 280 億美元，但截至 9 月 22 日的一週內，機構流出達到了 7.9541 億美元。</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>這表明供應壓力正在加大，可能對以太坊在各個市場領域的短期和長期價值造成重大影響。</p>
</div><h2>Massive supply set to be unlocked</h2>
<div class="lb-trans"><h2>大量供應即將解鎖</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>以太坊面臨重大供應衝擊的風險，約 216 萬 ETH 計劃解除質押。</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>這筆金額價值 88.9 億美元，平均等待期為 37 天，意味着供應壓力不會立即影響市場。</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>來源：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>投資者計劃解除質押的大量 ETH 警告稱，市場上可能會出現超過需求能夠吸收的代幣。</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>投資者已經開始調整頭寸。橋接淨流出數據顯示，在過去 24 小時內，超過 1300 萬美元的 ETH 離開了交易所，這是在該時間段內從任何區塊鏈橋接的最大金額。</p>
</div><h2>Selling pressure is gradually building</h2>
<div class="lb-trans"><h2>賣壓正在逐漸增加</h2>
</div><p>Exchange withdrawal transactions have fallen to their lowest level since 2018, according to CryptoQuant.</p>
<div class="lb-trans"><p>根據 CryptoQuant 的數據，交易所提款交易已降至 2018 年以來的最低水平。</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>過去一天記錄了約 37,000 筆交易，反映出投資者樂觀情緒減弱，可能導致需求緊縮。</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>來源：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，這一活動的下降並未與交易所儲備相匹配，後者保持相對平穩。平穩的儲備表明現貨投資者對長期持有或獲利了結仍然猶豫不決。</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，隨着更多 ETH 被持有在儲備中，突發拋售的風險依然較高，市場可能面臨重大壓力。</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>情緒的變化可能決定以太坊是否能夠維持反彈或繼續掙扎。</p>
</div><h2>Liquidation map suggest a trade lower</h2>
<div class="lb-trans"><h2>清算圖表暗示可能下跌</h2>
</div><p>The liquidation map on CoinGlass shows concentrated leverage across both long and short positions.</p>
<div class="lb-trans"><p>CoinGlass 上的清算圖表顯示，長短頭寸的槓桿集中。</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>在多頭方面，最大的流動性集羣位於$4,147 水平，面臨 4950 萬美元的風險。</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>來源：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>與此同時，空頭方面的槓桿更重，僅$3,906 水平就承載着 6.1896 億美元的流動性。</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>這種不平衡表明下行壓力更大，增加了以太坊失去$4,000 支撐的可能性。</p>
</div>

2.16 百萬以太坊解鎖倒計時：這對市場有何影響