Ethereum declined 10% over 24 hours to trade around $3,100 per token amid broader cryptocurrency market weakness. Market participants realized over $500 million in profits and $100 million in losses since Sunday, data show. The price is nearing $2,900, the average acquisition cost for addresses holding 10,000 to 100,000 ETH.

Ethereum is trading above $3,300 after briefly touching the $3,000 support level on Tuesday. The second-largest cryptocurrency by market capitalization has declined 17% over the past seven days. Technical indicators suggest a potential rebound toward $3,600 if key support levels hold.

Bitcoin is trading above $109,000, down 5% over the past week. Spot Bitcoin ETF flows have turned negative, with a seven-day average outflow of 281 BTC, according to CryptoQuant. Federal Reserve Chair Jerome Powell stated that the likelihood of another rate cut in December remains unclear, contributing to cautious sentiment among cryptocurrency investors.