**Ether at Critical Support Level: Potential Decline Below $2,800**

Ether (ETH) is teetering on a crucial support level, with traders eyeing a potential drop below $2,800. Michael van de Poppe, founder of MN Trading, highlighted that if Ether fails to hold this level, it could lead to a further 4% decline and push Bitcoin (BTC) into an uncertain range.

Currently trading at $2,885, Ether has already dropped 11.09% since July 28. A dip to $2,800 could wipe out $259.46 million in long positions, according to CoinGlass data.

Despite the bearish outlook, van de Poppe noted a potential rebound: “If we rotate back up from here, it’s party time.” This comes amid fluctuating inflows and outflows in spot Ethereum ETFs, with a net outflow of $169.4 million from July 29 to Aug. 2.

Stay tuned for more updates as the market evolves.