Ethereum's price has fallen below $3,100, marking its lowest point since early November, as the cryptocurrency market experiences a downturn. Spot Ethereum ETFs have been hit by consistent outflows, with investors pulling out approximately 7% of their cost-basis capital, compared to 4% for Bitcoin ETFs, according to Timothy Peterson of Cane Island Alternative Advisors. Last week, Ethereum ETFs saw outflows totaling $728.56 million, while Bitcoin ETFs experienced $1.11 billion in outflows. On-chain data from Glassnode indicates increased activity from long-term holders, reflecting a cautious sentiment in the market. Technical indicators for Ethereum remain bearish, with the cryptocurrency trading below key moving averages, suggesting potential further declines.