The post Ethereum price outlook: bears pierce $3,000 as sell-off pressure mounts appeared on BitcoinEthereumNews.com. Ethereum price was down more than 7% as bears broke below $3,000 to touch $2,940. As sell-off pressure mounts, bears could eye lows of $2,300. BitMine continues to buy ETH, with analysts indicating dips are for buying. Ethereum price is down 7% in the past 24 hours and looks poised for fresh losses as bulls retreat sharply amid renewed selling pressure. This comes as ETH prices dip below the psychological $3,000 level for the first time in months. Notably, the breakdown arrives amid broader market weakness, with Bitcoin extending its rot to hit lows of $89,500. Macro jitters, persistent exchange-traded funds outflows, and signs of capitulation are fueling concerns that the path of least resistance remains lower for BTC, ETH, and the broader crypto market. Ethereum price dips below $3,000 On Tuesday, the ETH price breached the $3,000 mark, trading as low as $2,940. The downturn sees bears extend the downtrend that has seen Ethereum shed more than 7% in the past 24 hours, and 16% from its weekly highs above $3,200. Despite notable accumulation by BitMine, downside momentum has overwhelmed buying interest and ETH risks fresh losses. At the time of writing, the Ethereum price hovered near $2,979, with the top altcoin down sharply as Bitcoin plunged under $90,000. Per CoinMarketCap data, BTC fell to lows of $89,500 across major exchanges, with both coins’ dips coming amid notable buying by Strategy. BitMine disclosed it had acquired an additional 54,156 ETH over the past seven days, a move that pushed the publicly-traded company’s total holdings to 3.56 million ETH. Ethereum price forecast While the aggressive buying has failed to stem price declines, bulls remain upbeat long-term. “Crypto prices have not recovered since the liquidation event on Oct 10th. And the lingering weakness has the hallmarks of a market maker (or… The post Ethereum price outlook: bears pierce $3,000 as sell-off pressure mounts appeared on BitcoinEthereumNews.com. Ethereum price was down more than 7% as bears broke below $3,000 to touch $2,940. As sell-off pressure mounts, bears could eye lows of $2,300. BitMine continues to buy ETH, with analysts indicating dips are for buying. Ethereum price is down 7% in the past 24 hours and looks poised for fresh losses as bulls retreat sharply amid renewed selling pressure. This comes as ETH prices dip below the psychological $3,000 level for the first time in months. Notably, the breakdown arrives amid broader market weakness, with Bitcoin extending its rot to hit lows of $89,500. Macro jitters, persistent exchange-traded funds outflows, and signs of capitulation are fueling concerns that the path of least resistance remains lower for BTC, ETH, and the broader crypto market. Ethereum price dips below $3,000 On Tuesday, the ETH price breached the $3,000 mark, trading as low as $2,940. The downturn sees bears extend the downtrend that has seen Ethereum shed more than 7% in the past 24 hours, and 16% from its weekly highs above $3,200. Despite notable accumulation by BitMine, downside momentum has overwhelmed buying interest and ETH risks fresh losses. At the time of writing, the Ethereum price hovered near $2,979, with the top altcoin down sharply as Bitcoin plunged under $90,000. Per CoinMarketCap data, BTC fell to lows of $89,500 across major exchanges, with both coins’ dips coming amid notable buying by Strategy. BitMine disclosed it had acquired an additional 54,156 ETH over the past seven days, a move that pushed the publicly-traded company’s total holdings to 3.56 million ETH. Ethereum price forecast While the aggressive buying has failed to stem price declines, bulls remain upbeat long-term. “Crypto prices have not recovered since the liquidation event on Oct 10th. And the lingering weakness has the hallmarks of a market maker (or…