Key facts: Ethereum drops below $3,000; $74M in ETF outflows reported; $16K forecast now unlikely
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- Ethereum fell to around $2,870, experiencing its first drop below the $3,000 mark since July 2024.1
- Ethereum spot ETFs experienced a net outflow of $74.22 million, marking the sixth consecutive day of withdrawals, which reflects the prevailing negative market sentiment surrounding the asset.2
- Ethereum's price forecast of $16,000 by 2025 is now viewed as unlikely due to the ongoing severe bear market impacting the asset.3