Key takeaways
- Ethereum breaks below $2,000 as leveraged selling accelerates
- ETH liquidations reach $259 million amid institutional withdrawals
- Losing $1,900 could expose further downside toward $1,800
Ethereum plunged below $2,000 on Friday, November 13, extending its November selloff as leveraged liquidations and continued institutional withdrawals pushed the cryptocurrency toward its weakest levels since August.
ETH traded around $1,935 after falling to approximately $1,896 on Binance. The decline follows repeated attempts to defend the critical $2,000 support level, which had previously attracted buyers during the latest market correction.
Ethereum Liquidations Hit $259M as ETF Selling Continues
Approximately $259.1 million in leveraged Ethereum positions were liquidated over 24 hours, according to an early Friday CoinGlass market snapshot.
Long positions accounted for roughly $234.9 million, or 90.7% of the total, showing that traders betting on a recovery suffered most of the forced closures.
The latest liquidation wave follows an earlier Ethereum futures selloff, when collapsing bullish positions increased downside pressure.
Institutional demand has provided little relief. According to Farside Investors, US spot Ethereum ETFs recorded $144.8 million in net outflows on November 11, including $129.8 million from BlackRock's ETHA.
Preliminary November 12 figures show another $8 million in withdrawals, although several major funds had not yet reported complete flows.
This follows November 9's $184.6 million withdrawal and the earlier weekly ETF selling, which had already weakened ETH's ability to sustain recoveries.
Bitcoin Selloff and Fed Expectations Pressure ETH
Ethereum's decline is not occurring in isolation. Bitcoin's drop below $70,000 has coincided with widespread cryptocurrency selling and approximately $1.47 billion in market-wide leveraged liquidations.
The correction also follows stronger US inflation data, which increased expectations of another Federal Reserve interest-rate hike in December.
Higher interest rates and rising Treasury yields can weaken demand for speculative investments, particularly cryptocurrencies that rely heavily on investor liquidity.
Ethereum's difficulties contrast with its earlier recovery toward $2,400, when investors briefly expected institutional flows to stabilize.
However, the market's deterioration has not necessarily changed Ethereum's underlying network activity. Price weakness and exchange-traded fund withdrawals reflect investor positioning rather than direct evidence of reduced blockchain usage.
Ethereum Price Prediction: Is $1,800 the Next Target?
Ethereum's immediate downside reference is the $1,900 region, close to Friday's intraday low.
If ETH fails to hold that area, the next potential levels are $1,850 and $1,800. These are conditional technical scenarios, not confirmed support zones or guaranteed price targets.
A deeper decline toward $1,750 could become possible if Bitcoin continues weakening and leveraged selling accelerates.
Conversely, reclaiming $1,950 would provide an early stabilization signal. A sustained recovery above $2,000 would be more meaningful, potentially opening the path toward $2,050–$2,100.
That would represent a reversal of the recent failed recovery, when slowing ETF outflows briefly improved sentiment without producing a sustained breakout.
The broader outlook remains difficult after October's $1.61 billion ETF exodus.
