Key takeaways
- Ethereum ETFs record sixth consecutive withdrawal session
- BlackRock leads selling with $138 million daily outflow
- Losing $2,200 could expose deeper downside toward $2,000
Ethereum traded near $2,268 on November 3 as continued institutional withdrawals and weakening technical momentum raised the possibility of another decline toward $2,000.
ETH slipped approximately 1% over 24 hours, trading between $2,235 and $2,297 as buyers struggled to reclaim the psychologically important $2,300 level.
According to Farside Investors, US spot Ethereum ETFs lost $139.7 million on November 2, extending their withdrawal streak to six consecutive trading sessions.
The fresh selling follows October's $1.61 billion ETF exodus, suggesting institutional demand remains under pressure despite Ethereum's attempts to stabilize.
Ethereum ETFs Lose $571 Million as BlackRock Selling Continues
US spot Ethereum ETFs recorded approximately $571.1 million in net withdrawals between October 26 and November 2, according to Farside's daily figures.
BlackRock's ETHA accounted for $138.3 million in Monday's outflows, while its ETHB product lost another $4.6 million.
Morgan Stanley's MSSE attracted approximately $3.2 million, partially offsetting withdrawals from competing funds.
The institutional retreat follows an earlier $431 million selloff that contributed to Ethereum's late-October weakness.
However, ETF redemptions should not be interpreted as identical amounts of immediate spot-market selling.
The withdrawal streak also coincides with renewed weakness across cryptocurrencies, as Bitcoin's latest decline has reinforced concerns about market liquidity.
Ethereum Price Prediction: $2,200 Support Faces Another Test
Ethereum's immediate technical outlook remains fragile below $2,300.
The first support zone sits around $2,235-$2,250, corresponding to the lower end of November 3's observed trading range.
A sustained move below that region could bring $2,200 back into focus, followed by the October low near $2,179.
Derivatives data adds another concern.
According to LiqFlow, approximately $29.5 million in leveraged long positions on Hyperliquid faced liquidation exposure within a 5% decline toward $2,154.
A deeper correction toward $2,041 could encounter approximately $272.8 million in cumulative long-liquidation exposure, potentially amplifying selling pressure.
These figures represent modelled exposure, not guaranteed future liquidations.
The scenario resembles an earlier Ethereum downside warning, when analysts identified $2,000 as an important psychological support level.
If ETH instead recovers above $2,300, resistance emerges around $2,350, followed by $2,400.
Can Ethereum Avoid a Drop Toward $2,000?
Ethereum's short-term direction will depend partly on whether institutional withdrawals slow and broader market sentiment improves.
The recent AI stock selloff has contributed to weaker risk appetite, although technology equity movements do not determine cryptocurrency prices.
Meanwhile, the upcoming US employment report could influence expectations for Federal Reserve interest rates and liquidity conditions.
