According to Ai 姨's recent tweet on January 13, 2025, Ethereum (ETH) has decreased to levels not seen in recent months, dropping below the $3000 mark. This decline has caught many traders off guard, particularly those who have been employing 'buy the dip' strategies, expecting a rebound. The precise timestamp of the significant price drop was around 04:00 UTC, when ETH was trading at approximately $2,950. This represents a decrease of about 5% over the last 24 hours from its previous level of $3,100, as reported by CoinGecko.

The trading implications of this drop are significant. Many traders have been using leveraged positions betting on a price bounce, and the sudden downturn has resulted in a wave of liquidations. According to data from Coinglass, over $50 million in long positions were liquidated in the last 24 hours, indicating a rapid shift in market sentiment. The drop below $3000 is psychologically significant, as it breaks through a critical support level that had held for the past two weeks. The sentiment on crypto forums like Reddit and Twitter is notably bearish, with traders expressing concern about further declines.

Technical indicators further illustrate the bearish momentum. The Relative Strength Index (RSI) for ETH on the daily chart has dropped below 30, indicating that the asset is oversold. Additionally, trading volumes have surged to $10 billion over the last 24 hours, which is a 20% increase compared to the average daily volume over the past month, according to Binance. This increase in volume during a price drop suggests strong selling pressure. Market depth data from TradingView shows a high concentration of sell orders around the $3100 level, which ETH failed to breach earlier, indicating that the resistance may serve as a significant barrier in the near term.