Ether Tumbles 8% as ETFs Bleed Over $1.4B, Long-Term Holders Sell

The recent decline in Ether's price is part of a larger trend affecting the cryptocurrency market, as highlighted by the sentiment index which indicates the lowest levels of investor confidence since February. Bitcoin's drop below the $100,000 level has exacerbated fears, leading to a selloff that has impacted long-term holders of Ether. The significant outflows from ETFs, totaling over $1.4 billion, further illustrate the market's instability. As investors react to these developments, the overall sentiment remains negative, suggesting a challenging environment for cryptocurrencies in the near term.