Ether Dips Below $3,100; Investment Manager Says Market Views ETH as 'More Risky' Than BTC

Core Viewpoint - Ether (ETH) has experienced a significant pullback, trading below $3,100 for the first time since November 4, indicating a broader decline in digital assets [1] Group 1: Price Movement - ETH was trading at approximately $3,066, down 3.4% over the past 24 hours [1] - The token briefly fell below the $3,100 level on Bitstamp, marking a notable threshold breach [1] Group 2: ETF Outflows - Spot ether ETFs have seen net outflows in four of the past five weeks, totaling around 7% of the cost-basis capital invested [2] - In comparison, bitcoin ETFs experienced about 4% withdrawals over the same period, suggesting that investors currently perceive ether as the riskier asset [2] Group 3: Investor Sentiment - Cost-basis capital reflects the total amount originally committed to an ETF, providing insight into long-term investor sentiment [3] - Rising redemptions as a share of the original investment base indicate a potential erosion of conviction among established holders [3] Group 4: Future Outlook - The focus will be on whether ether's ETF outflows will ease or continue in the coming weeks, as well as how the token trades around key levels after the recent decline [4] - Future flow data and price action will likely reveal whether the sentiment gap between ether and bitcoin persists [4]