According to U.Today, Ethereum has experienced a significant decline, falling to $3,000. The primary reason behind this sharp drop appears to be institutional investors selling off their ETH holdings. This sell-off has led to a substantial decrease in Ethereum's price, breaking several key support levels, including the 200 EMA, which typically acts as a strong floor during downturns. The price continues to fall below critical indicators such as the 50 EMA and the 100 EMA, indicating a bearish trend. A notable increase in ETH trading volume suggests a significant liquidation event is driving the sell-off. The Relative Strength Index (RSI) has dropped to around 31, indicating that Ethereum is oversold. However, this does not necessarily mean a swift recovery is imminent, especially given the current market sentiment. Institutional investors' ETF holdings are likely contributing to Ethereum's sharp price decline. Exchange-traded funds (ETFs) have become a popular method for institutional cryptocurrency investment. However, the large-scale sales by these investors can significantly disrupt the market, as seen in the current price action. Institutional investors, who typically manage substantial sums of money, have a considerable impact on market prices. When these entities begin liquidating their holdings, it often triggers a domino effect, exacerbating the price decline as other investors follow suit. Based on the latest price action, if the sell-off continues, Ethereum may face further downside pressure. A prolonged period of bearish activity could ensue if Ethereum fails to recover its support levels. On the other hand, the RSI's indication of oversold conditions might attract some buyers looking for a bargain.