Ethereum has officially slipped under the $3,000 mark, falling more than 16% in one week, as a series of bearish structural signals point to deepening stress across the market. The decline comes amid aggressive institutional withdrawals, long-term holder capitulation, and weakening investor conviction at a critical point for the asset.
Institutional Exodus Accelerates
Fresh data shows a sharp deterioration in institutional appetite for Ethereum. Spot ETH ETFs recorded $728 million in outflows last week, extending a four-week withdrawal streak, according to recent data. Combined ETF assets under management have now dropped to $18.9 billion, marking a 16% decline from the previous month.
This institutional retreat matters. ETH ETF demand played a major role in powering earlier 2025 rallies, but sentiment has now turned decisively cautious. Cane Island Alternative Advisors’ Timothy Peterson notes that investors increasingly view Ethereum as riskier than Bitcoin, a shift evident in both ETF behavior and derivatives positioning.
Whether ETH can reclaim and hold the $3,000 psychological level may determine if panic selling moderates, or accelerates.
Long-Term Holders Break Rank
One of the most notable red flags is coming from Ethereum’s oldest wallets. Addresses holding ETH for 3 to 10 years are now distributing over 45,000 ETH per day on a 90-day average, levels not seen since February 2021.
Since late August, as Ethereum pulled back from its new peak, 3–10 year holders have ramped up their average daily spending to >45K ETH/day (90D-SMA).
This marks the highest spending level by seasoned investors since Feb 2021.
📉 https://t.co/EO1LpkLbmLpic.twitter.com/eMw5rKteTX
— glassnode (@glassnode) November 14, 2025
Long-term holders are typically the market’s most resilient cohort. Their capitulation historically appears only in moments of macro stress or deep trend reversals. Their recent activity suggests a meaningful shift in conviction, adding pressure to an already fragile market structure.
With Ethereum now trading around $2,975, the next few sessions will be critical. A sustained break below $3,000 risks opening the door to deeper downside, while a swift reclaim could signal that sellers are finally exhausting.