Ethereum’s price has fallen below the crucial level of $3,100, sparking unease in the market. The decline is leading to institutional and retail outflows from exchange-traded funds (ETFs), raising concerns about a potential bear market. Experts highlight the significance of the $3,100 mark as a critical support point. While prominent crypto analysts are observing this dip closely, Ethereum’s developers remain focused on scaling and long-term development efforts. The price drop has triggered significant financial market reactions, including substantial ETH futures liquidations exceeding $206.5 million. Analysts are now weighing the strength of key support levels to predict a future market trend. The current downturn may have broader implications for other crypto assets and regulatory responses, requiring careful observation of historical data.