Ethereum Crashes Below $3K as Selling Pressure Explodes

Ethereum has slipped below the $3,000 mark and is now hovering near $2,966, capping off a brutal 17% slide over the past week.

Much of the optimism from the previous quarter has evaporated as the broader crypto market turns defensive, with traders showing little interest in taking on new long exposure – even on majors like ETH.

The drop has been amplified by a wave of liquidations and fading retail confidence. Many market participants had expected a strong year-end push from Ethereum after months of elevated network activity and solid staking metrics.

Instead, sentiment has swung sharply, leaving ETH in one of its most uncertain stretches since the summer downturn.

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On the technical side, Ethereum is flashing heavy oversold signals. The daily RSI has collapsed to roughly 30, a level that often precedes short-lived recovery rallies but doesn’t guarantee them – especially in a macro environment that remains shaky.

Bitcoin is showing similar weakness, now trading around $91,579, extending a nearly 14% decline over the past week. The drop has pushed BTC deep into risk-off territory, with sellers dominating order books and upward momentum evaporating. Although Bitcoin has historically attracted dip buyers during sharp retracements, the current environment shows little urgency from bulls, suggesting that macro uncertainty and fading ETF inflows are weighing heavily on sentiment. Until BTC can reclaim key levels above $95,000, analysts warn that volatility may continue to intensify.