Ethereum's price has dropped below $3,900, with bearish sentiment targeting a decline under $3,700 following a double-top reversal at the $4,000 resistance level. Currently trading at $3,837, the cryptocurrency faces significant supply pressure and is nearing critical support levels, with a potential fall to $3,378 if key supports break. Despite this volatility, institutional interest remains strong, highlighted by $144.7 million in inflows into U.S. spot Ethereum ETFs, including significant purchases by BlackRock and Fidelity.