Ethereum (ETH) is currently hovering around $3,000, facing ongoing market pressure. The bearish trend has caused substantial losses for the cryptocurrency, with a 2.81% decline, and its price has fallen to around $2,871. The largest crypto asset, Bitcoin (BTC), also shows a downturn, trading at $91,800. Will the current bearish outlook prevail, leading to further declines for ETH? Market data indicates significant losses exceeding $196 million in liquidations over the past 24 hours. Ethereum’s market cap stands at $364.53 billion, and its trading volume has surged by over 19% to reach $39.01 billion, highlighting investor activity amidst this bearish environment.