Ethereum (ETH), the largest altcoin, has experienced a significant price drop this week, falling below $3,100 for the first time since November 4th. This decline comes amidst broader market volatility that has unsettled the entire cryptocurrency landscape. CryptoAppsy data shows a 0.47% decrease in ETH’s value within the last 24 hours, currently trading at $3,193. Analysts attribute this drop to outflows from spot Ethereum ETFs, indicating a decline in investor confidence. Timothy Peterson, crypto researcher and investment manager at Cane Island Alternative Advisors, notes that over the past five weeks, investors have withdrawn approximately 7% of their cost-based capital from Ethereum ETFs. This contrasts with a 4% outflow for Bitcoin ETFs during the same period. This suggests that investors are increasingly perceiving Ethereum as riskier than Bitcoin, potentially impacting market stability.