Ethereum News: Investment Manager Says Market Views ETH as 'More Risky' Than BTC

Ethereum's price dipped below $3,100 for the first time since November 4, marking a 3.4% decline within a 24-hour period. Investment manager Timothy Peterson highlighted that ether ETFs experienced net outflows equivalent to approximately 7% of their cost-basis capital over the last five weeks, compared to 4% for bitcoin ETFs. This trend is interpreted as investors viewing ether as riskier, with a notable erosion of conviction among long-term holders. Peterson emphasized that this cost-basis capital, representing the original money invested in ETFs, reflects deeper sentiment than simple inflows or outflows, which can fluctuate week to week. Consequently, the higher withdrawal rate of ether's initial investments indicates significant concern among established holders in the current digital asset climate, exacerbated by broader market pullbacks and increasing bearish sentiment surrounding major cryptocurrencies like bitcoin.

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