By The Ethereum price fell to $1,934.90 at 08:09 GMT on Friday, down 5.56% over 24 hours, according to TradingView. Ethereum traded below $2,000 for the first time since August, and Bitcoin slid to $68,705, a day after it held below $74,000 through a fifth straight session of ETF redemptions.
Forced selling pushed the Ethereum price through $2,000, as CoinGlass counted $1.65 billion in crypto derivatives liquidations over 24 hours by 08:10 GMT, and 88.9% of that came from long positions. US producer price data lands at 13:30 GMT, with markets already pricing a December rate hike.
Ethereum Price Down 20% in Eight Days From $2,417
The Ethereum price stood at $2,417.10 on the morning of 5 November, up 4.07% as shorts were squeezed. Today’s print is 19.95% below that level. CoinGecko showed ETH at $1,925.07, down 6.10%, after a 24-hour range of $2,051.05 to $1,921.74.
TradingView puts the Ethereum price down 13.44% over one week, 22.48% over one month and 34.78% year to date. ETH has now lost the $1,940 to $2,000 band that FinanceFeeds’ July bull and bear map named as the shelf a recovery had to clear.
The Ethereum price has fallen 22.48% in a month from about $2,496, and the last 24 hours took it from a $2,051 high to below the $1,940 to $2,000 band. Source: TradingViewBitcoin fell 6.69% in the same window as the Ethereum price. CoinDesk called it Bitcoin’s weakest level since 19 August, near $69,000, while CoinGecko recorded a 24-hour low of $67,921.87. Solana dropped below $80 and XRP traded near $1, CoinDesk said.
A Dollar Above 103 and a Fed Hike Priced for December
CoinDesk tied the selloff to a DXY above 103, its highest level since April 2025, after a rise of nearly 2% since early October on stronger odds of Fed rate hikes. CoinDesk called the firmer dollar a headwind for liquidity-sensitive assets, and leveraged bets on the Ethereum price sit squarely in that group.
Those odds firmed after October CPI. Headline inflation rose 0.4% against a 0.3% consensus, and Fed Governor Christopher Waller said a producer price reading at or above 0.3% might warrant a half-point move. CME FedWatch put a quarter-point December hike at 88.8% on 10 November, per Investing.com. By 12 November it showed 84.7% for a quarter point and 15.3% for a half point, while Polymarket priced an 85% chance of a hike.
Nvidia added a second shock on 12 November, when it said Jensen Huang had resigned as chief executive, effective immediately. Finance chief Colette Kress was named interim CEO. SoSoValue argued that Kress’s history of scaling back exposure could cool the AI financing behind AI-linked crypto assets. CoinDesk also cited Iran’s Revolutionary Guard claiming a strike on a US radar in Bahrain, a day after Brent jumped 3.3% on Houthi claims of attacks on Saudi oil sites.
$1.65 Billion in Crypto Liquidations, 88.9% of It Longs
Liquidation tallies climbed through the morning as the 24-hour window rolled over the drop. SoSoValue’s morning brief put the total at $656 million, crypto.news reported $1.2 billion, and CoinDesk cited more than $1.3 billion, with $677 million from Bitcoin. CoinGlass showed $1.65 billion across 187,155 traders by 08:10 GMT.
ETH accounted for $287.68 million of that, and $258.96 million, or 90.0%, came from longs. The biggest single order, per CoinGlass data, was a $31.09 million Bitcoin long on Hyperliquid. It is the second billion-dollar flush in eight days, after about $1.09 billion was liquidated in the 24 hours to 5 November, roughly 88% of it longs.
The latest flush was 51% larger than the one eight days earlier, yet the long share barely moved from 88.0% to 88.9%, so the same one-sided positioning was rebuilt and wiped out twice. Source: CoinGlass · Chart: FinanceFeedsInvestor Takeaway
With 90% of $287.68 million in ETH liquidations falling on longs, the break below $2,000 was a forced unwind of leveraged bets more than a spot exit.
Ethereum ETFs Shed $704 Million in November
US spot Ethereum ETFs posted a sixth straight session of net outflows on 12 November, at $8.06 million, SoSoValue data show. The run totals $531.86 million, and November outflows through 12 November reach $703.99 million. November’s lone inflow, per SoSoValue, was $53.02 million on 4 November, a day before the Ethereum price began its slide from $2,417.
The heaviest recent day was 11 November, at $144.81 million. Farside Investors data cited by crypto.news match that figure and attribute $129.8 million of it to BlackRock’s ETHA. Total net assets stand at $11.53 billion, about 1.47% of Ethereum’s market value.
Six straight outflow sessions drained $531.86 million from Ethereum ETFs, less than twice the $287.68 million in ETH longs and shorts liquidated in one 24-hour window. Source: SoSoValue · Chart: FinanceFeedsEthereum Price Support at $1,920, Then $1,832
Analyst More Crypto Online flagged $1,920 as Fibonacci support, with $1,832 next if that fails, crypto.news reported. CrediBULL Crypto named $1,380 as a longer-term invalidation level without forecasting a move there. Above the market, crypto.news put resistance at $2,020 and $2,100.
The July map placed support at $1,840 to $1,860 and a deeper zone at $1,650 to $1,700. Both put the next Ethereum price floor in the low $1,800s. Funding on ETH perpetuals sat at -0.0020% on TradingView, meaning shorts were paying longs.
PPI at 13:30 GMT Sets the Next Test for the Ethereum Price
October producer prices arrive at 13:30 GMT. A reading at or above Waller’s 0.3% marker would push odds toward a half-point December hike. A softer print would ease pressure on the dollar that CoinDesk blamed for the drop.
The Ethereum price enters that release with ETF demand still negative and a second leveraged flush just cleared. The Fed’s December decision is the next fixed date after PPI.
Investor Takeaway
The Ethereum price is trading below $2,000 into a PPI release that could lift half-point December hike odds above the 15.3% CME FedWatch showed on 12 November.