Key takeaways
- Ethereum stabilizes near $2,245 after sharp decline
- Spot ETH ETFs lose $365 million weekly
- Losing $2,200 could expose deeper downside support
Ethereum is attempting to stabilize near $2,245 on November 7 after a sharp market correction, but another week of institutional selling has raised concerns about the cryptocurrency's ability to defend $2,200.
According to Farside Investors' latest ETF data, US spot Ethereum funds lost $93.3 million on November 6, bringing cumulative net withdrawals for the November 2-6 trading week to $365.2 million.
Ethereum ETFs Lose $365 Million as BlackRock Leads Selling
Institutional demand remained weak throughout the first trading week of November.
Ethereum ETFs lost $139.7 million on Monday and another $85.3 million on Tuesday before recording a temporary $53 million inflow on Wednesday.
That recovery quickly reversed.
Thursday brought $99.9 million in withdrawals, followed by another $93.3 million on Friday.
BlackRock's ETHA accounted for $90.8 million of Friday's outflows, while its staking-focused ETHB product attracted approximately $1.1 million.
The figures extend the weakness examined in Coinpaper's previous Ethereum price prediction, which documented the cryptocurrency's earlier 8% decline.
The latest withdrawals also follow October's $1.61 billion Ethereum ETF exodus, demonstrating that institutional demand has remained under pressure for several weeks.
Ethereum Price Prediction: Can ETH Hold $2,200?
Ethereum's immediate support sits around $2,200–$2,205, near the latest observed trading lows.
A decisive breakdown below this region could expose $2,170–$2,180, followed by the psychologically important $2,100 level.
If broader selling accelerates, a deeper decline toward $2,000 cannot be ruled out.
That scenario resembles Coinpaper's earlier Ethereum downside warning, although the bearish target remains conditional.
On the upside, ETH must first reclaim $2,270–$2,300 to establish stronger recovery momentum.
A sustained move above $2,300 could reopen the path toward $2,400, where sellers previously interrupted the rally.
Earlier Ethereum recovery attempts toward $2,500 also struggled against persistent institutional outflows.
Can Ethereum Recover as Institutional Demand Weakens?
Ethereum's weekend outlook depends partly on whether buyers can absorb selling near $2,200.
The latest withdrawals followed a brief return of Ethereum ETF inflows on November 4, illustrating how quickly institutional sentiment can reverse.
Broader cryptocurrency weakness remains another concern, with Bitcoin facing substantial ETF redemptions and renewed uncertainty surrounding interest rates.
Meanwhile, Ethereum's staking ecosystem continues attracting long-term participation, although network activity does not guarantee immediate price appreciation.
The Ethereum recovery narrative from early November has therefore weakened considerably.
