以太坊巨鲸显露不安情绪：链上及衍生品数据降低了ETH涨至4000美元的可能性

Group 1 - Ethereum has seen a 15% increase from a low of $2,623, but derivative indicators show traders remain cautious due to a lack of bullish leverage from top Ethereum traders and declining network fees, raising questions about what changes are needed for Ethereum to return to the $4,000 mark [2] - The demand for leveraged long positions in Ethereum has been nearly absent since Monday, with the annualized funding rate for perpetual contracts indicating a lack of confidence among traders following the uncertainty after the October flash crash [4] - The total value locked (TVL) in the Ethereum network has decreased from $99.8 billion to $72.3 billion since October 9, adding pressure to Ethereum's price outlook as investors prepare for softening demand [4] Group 2 - Despite stable transaction volumes, Ethereum's network fees have dropped by 13% over the past week, raising concerns about a negative feedback loop related to reduced network deposits, which could lead to inflationary pressures on ETH [6] - The top traders on OKX have reduced their bullish exposure to ETH, with a long-short ratio now showing a 23% bearish inclination, indicating a lack of clear confidence among whales and market makers [9] - Weakness in the U.S. job market, with over 25,000 layoffs announced in November, is contributing to trader unease, as rising operational costs for companies may further erode consumer confidence and impact risk assets like Ethereum [9] Group 3 - The U.S. government is expected to continue expanding debt to maintain growth due to slowing income and rising costs, which could potentially trigger alternative investments and impact Ethereum's price [11] - A weaker economy may prompt the U.S. Federal Reserve to adopt a more accommodative stance, which historically benefits cryptocurrencies; however, current uncertainties in the U.S. job market are undermining trader confidence [11] - Investors appear to be focusing more on tech stocks and the bond market, leaving limited room for short-term upward movement in Ethereum [11]