Ethereum's price has experienced a notable decline of 2.73% today, reaching a low of $3,320.91. This drop comes amid a broader market correction, with Bitcoin also seeing significant declines. Despite the price dip, Ethereum ETFs have attracted inflows, suggesting that institutional investors remain confident in Ethereum's long-term potential. On November 25, spot Ethereum ETFs saw a total inflow of $2.83 million, with Bitwise’s Ethereum ETF leading the charge. Analysts suggest that these inflows indicate a strategic approach by institutional investors, who view current price levels as attractive buying opportunities.
The decline in Ethereum's price today can also be attributed to the broader market dynamics, where Bitcoin's recent dip has influenced altcoin performance. As Bitcoin's dominance in the market decreases, altcoins like Ethereum have shown resilience, with Ethereum's market cap seeing growth in recent days. Despite today's downturn, Ethereum has demonstrated a favorable outlook, with a 36.5% increase over the past 30 days. This suggests that while short-term fluctuations are present, the long-term sentiment remains positive.