Ether Plunges with Bitcoin as Crypto Market Declines Further, Investors Pull Billions

• Ether, the second-largest cryptocurrency, is experiencing a significant decline alongside Bitcoin.
• Investors have withdrawn $3.3 billion from US exchange-traded funds for Ether since early October, with over $500 million pulled this year.
• Ether ETF assets are now below $13 billion, marking the lowest level since July.
• The token has dropped nearly 60% from its peak, with the average holding cost around $3,500 per token, currently selling for about $2,100.
• The decline is attributed to a general deterioration in cryptocurrency market sentiment, tightening liquidity, and waning risk appetite.