From Coinpedia · By Sahana Vibhute
Story HighlightsThe Ethereum price plunged below the psychological support at $2000 and, since then, is struggling to hold the $1900 price range
Ethereum's decline is being driven by several factors, including ETF withdrawals, selling by large holders and heavy liquidations in the derivatives market.
The $1,829 support level is now critical for ETH. If buyers fail to defend it, the price could slide towards $1,725, while a recovery above $2,000 would offer some relief.
The Ethereum price is struggling to regain the $2,000 level as selling pressure continues to weigh on the broader market. Persistent outflows from spot Ethereum ETFs, reported sales from wallets linked to the Ethereum Foundation, and large whale transactions have added to concerns about investor confidence. The decline has also been accompanied by rising liquidations in the derivatives market, putting leveraged traders under pressure.
Advertisement However, the sell-off is not the only story surrounding ETH. Network activity remains substantial, raising questions about the disconnect between Ethereum’s underlying usage and its recent market performance. With derivatives positioning weakening and institutional flows under scrutiny, can ETH stabilise and reclaim $2,000, or is another leg lower ahead?
Ethereum Faces Selling Pressure as ETF Outflows and Whale Activity Mount
Institutional withdrawals have emerged as one of the major sources of selling pressure on Ethereum. US spot Ethereum ETFs recorded approximately $695.9 million in net outflows during November, with withdrawals reported in seven of the month’s first eight trading sessions. The trend continued on November 13, when the funds registered another net outflow of around $64.95 million.
Besides, on-chain activity has added to the concerns. A wallet identified by blockchain trackers as linked to the Ethereum Foundation sold another 2,000 ETH, worth approximately $3.87 million, on November 13. The wallet’s reported sales since October 26 had reached 6,785 ETH by that date. Lookonchain subsequently reported another 1,000 ETH sale on November 14, taking its tracked sales over the preceding five days to 5,000 ETH.
The wider whale activity is not entirely one-sided. One large holder reportedly swapped 16,700 ETH for approximately $30.94 million in USDT, while another whale accumulated 10,380 ETH, worth nearly $19.91 million, despite carrying substantial unrealised losses. These transactions point to different strategies among large holders rather than a uniform move towards selling. Still, the combination of sustained ETF withdrawals and sizeable ETH disposals has added to the market’s cautious sentiment as the token struggles below $2,000.
Ethereum Derivatives Signal Further Weakness as Long Liquidations Rise