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Tickers
Ether (ETHUSD) has fallen about 8% toward $2,200, its lowest level since August, extending a slide driven by a Nasdaq chip sell-off, seven straight days of spot ETH ETF outflows totaling $99.9 million, and $213.3 million in ETH futures liquidations over 24 hours, with leveraged longs absorbing most losses. The latest leg down follows a stronger-than-expected October US jobs report of 165,000 payrolls, which pushed futures-implied odds of a December Fed rate hike to around 80%. In the newest session, ETH fell 0.99% to $2,396 and saw $11.14 million in total liquidations across three exchanges, including $11.12 million in long liquidat…
Ether Slides Toward $2,200 as ETF Outflows and Liquidations Weigh on Price
Ether (ETHUSD) has extended a recent decline, falling about 8% toward $2,200 — its lowest level since August — according to an editorial summary of market data. The move lower comes amid a broader risk-off backdrop affecting crypto markets.
Drivers Behind the Decline
The slide has been attributed to several converging factors:
- A sell-off in Nasdaq chip stocks
- Seven consecutive days of outflows from spot ETH ETFs, totaling $99.9 million
- $213.3 million in ETH futures liquidations over a 24-hour period, with leveraged long positions absorbing most of the losses
Macro Pressure From Jobs Data
The latest leg down followed a stronger-than-expected October US jobs report showing 165,000 payrolls. The data pushed futures-implied odds of a December Federal Reserve rate hike to around 80%, according to the summary.
Latest Session
In the most recent session, ETH fell 0.99% to $2,396, with $11.14 million in total liquidations across three exchanges. Of that total, $11.12 million came from long liquidations.
Adoption Measures in Focus
Despite the price weakness, the source material notes that Ethereum leads on key adoption measures, including stablecoins and tokenization. Traders continue to watch the $2,206 support level as the price tests lower ground.