Ethereum (ETH) fell below $3,100 on Sunday during a wider decline in the crypto market. The token traded near $3,066 late Sunday, down 3.4% in the last 24 hours. It briefly dipped under the $3,100 level on Bitstamp at about 4 p.m. UTC, its first move below that point since November 4.
Timothy Peterson, an investment manager at Cane Island Alternative Advisors, said spot Ethereum ETFs recorded net outflows in four of the past five weeks.
These withdrawals equaled about 7% of the original capital invested in the funds. Bitcoin ETFs saw smaller redemptions of about 4% during the same period.
Peterson said this gap shows that investors currently view Ethereum as riskier than Bitcoin. Cost-basis capital reflects the total amount long-term investors originally put into an ETF. A larger share of redemptions suggests weakening confidence among those holders, not just short-term trading.
Traders will now watch whether Ethereum ETF outflows slow down and how the price reacts after breaking the $3,100 level. Upcoming fund flows and price action will help show whether investor sentiment toward Ethereum continues to lag behind Bitcoin.
