Ethereum has slipped below the critical $3,000 support level, currently trading at $2,958.63. This decline represents an 11% loss year-to-date, with analysts suggesting that the $3,000 mark may now serve as a resistance level. The broader cryptocurrency market is also experiencing downward pressure, with Bitcoin losing over 30% in the past two months. Market observers are concerned about Ethereum potentially falling further towards $2,500, which could trigger additional selling pressure. Institutional voices caution that the ongoing crypto winter might persist, impacting investor sentiment and market stability.