吴说获悉，根据 SoSoValue 数据，昨日（美东时间 12 月 31 日）以太坊现货 ETF 总净流出 7205.86 万美 元，九支 ETF 无一净流入。昨日单日净流出最多的以太坊现货 ETF 为灰度（Grayscale）以太坊迷你信 托 ETF ETH，单日净流出为 3198.38 万美元，目前 ETH 历史总净流入达 14.88 亿美元。 （来源：吴说） ...

Core Viewpoint - The cryptocurrency market experienced a significant downturn on September 25, with Ethereum dropping over 4% and Bitcoin also facing declines, leading to a liquidation of nearly 140,000 positions worth approximately $441 million [1][9]. Market Performance - Ethereum's price fell to a low of $3,961, with a reported decline of 4.39% at the time of reporting [2][3]. - Other cryptocurrencies, including Bitcoin, Binance Coin, Dogecoin, and Solana, also saw substantial declines, with some coins dropping over 4% [6][7]. Liquidation Data - In the last 24 hours, approximately 140,000 traders were liquidated, with total liquidation amounts reaching $441 million, including $380 million from long positions and $6.47 million from short positions [9][10]. Market Analysis - Analysts noted that despite a favorable macroeconomic environment for crypto assets, a significant drop in trading volume has increased the risk of forced liquidations. If prices breach key technical support levels, stop-loss orders may trigger, leading to a rapid deleveraging process [1][11]. - Recent data indicated a net outflow of $141 million from Ethereum spot ETFs, with Fidelity's ETF experiencing the largest single-day outflow of $63.4 million [11].

Core Viewpoint - The cryptocurrency market experienced a significant downturn on September 25, with Ethereum's price dropping over 4%, falling below $4000, and Bitcoin also facing multiple short-term declines [2][3][4]. Market Performance - Ethereum's price reached a low of $3961, marking a decline of 4.39% [5][6]. - The overall cryptocurrency market saw a collective drop, with Bitcoin, Binance Coin, Dogecoin, SOL, Ripple, Cardano, and SUI all experiencing declines, with some like SOL and Dogecoin dropping over 4% [9][10]. Liquidation Data - Approximately 140,000 traders were liquidated in the last 24 hours, with a total liquidation amount of $441 million, including $380 million from long positions and $6.466 million from short positions [12][13]. - The largest single liquidation occurred in Hyperliquid-ETH, valued at $29.12 million [12]. Market Analysis - Analysts from Matrixport noted that despite a favorable macro environment for crypto assets, a significant decline in trading volume is increasing the risk of forced liquidations, making long positions vulnerable to minor shocks [14]. - Historical data indicates that the market often experiences volatility during periods when the Federal Reserve enters a rate-cutting cycle, which could further pressure the market [14]. - Recent data showed a net outflow of $141 million from Ethereum spot ETFs, with Fidelity's ETF experiencing the largest single-day outflow of $63.4 million [14].