TLDR
- ETH fell 4.4% to $2,136.61 on November 9, its lowest level since August.
- Ethereum posted $449.03 million in liquidations, the most of any crypto, and 91.8% were longs.
- ETH liquidations ran about 1.6 times Bitcoin’s.
- U.S. spot Ether ETFs lost $365.28 million last week, a sixth straight week of outflows.
- U.S. CPI data is due November 10.
Ethereum (ETH) traded at $2,136.61 on Monday, November 9, down 4.4% over 24 hours, according to CoinGecko. The price touched its lowest level since August.
Forced selling drove the drop. Ethereum recorded $449.03 million in liquidations over 24 hours, the most of any cryptocurrency, per CoinGlass.
Long positions made up $412.30 million of that total, or 91.8%. Shorts accounted for $36.73 million.
Ethereum Liquidations Outpace Bitcoin
Across the crypto market, liquidations reached $1.02 billion and hit 151,027 traders. Ethereum made up about 44% of the total.
Bitcoin recorded $273.85 million in liquidations. That puts ETH’s figure at about 1.6 times Bitcoin’s, though Ether’s market value is less than one-fifth of Bitcoin’s.
The largest single liquidation was a $48.16 million long on Binance’s ETH/USDT pair. It closed at $2,095.50, below the market-wide low of $2,108.59.
Most of the selling was over by Monday morning. In the last four hours, liquidations totaled $25.82 million, split almost evenly between longs and shorts.
The slide began around 21:30 UTC on November 8. ETH fell from about $2,220 to below $2,130 within minutes, after trading between $2,210 and $2,240 for most of Sunday.
Lookonchain reported that whales bought the dip. Its post said wallet 0xFD10 borrowed 22 million USDT from Aave and bought 10,000 ETH at $2,155, while another wallet withdrew 3,500 ETH from Binance.
Whales are buying the $ETH dip as the market crashes!
Wallet 0xFD10 borrowed 22M $USDT from Aave, then spent 21.55M $USDT to buy 10,000 $ETH at $2,155.
Wallet 0x4AB7 withdrew another 3,500 $ETH ($7.53M) from #Binance 10 minutes ago, bringing its total withdrawals over the past… pic.twitter.com/8faSSX0CGJ
— Lookonchain (@lookonchain) November 9, 2026
Tech Stocks and ETF Outflows Add Pressure
The week of pressure started on November 5, when the Nasdaq Composite fell 5.52% to 24,315. The PHLX Semiconductor Index dropped 12.25% the same day.
ETH fell more than 7% that day, with about $164.72 million in positions liquidated. Reuters tied the moves to worries over tighter rules under a Democratic-controlled Congress.
U.S. spot Ether ETFs recorded $93.19 million in net outflows on November 6, per SoSoValue. BlackRock’s ETHA made up $90.76 million of that.
Weekly outflows reached $365.28 million, the sixth straight week of net withdrawals. October’s outflows totaled $1.61 billion.
Reuters also cited the Binance security breach, which affected about $6.3 billion in client assets, and the stalled CLARITY Act. No Ethereum network failure or exploit has been named as a cause.
Analyst Daan Crypto Trades said ETH is sitting at its bull market support band. He noted the price first broke below the band in October 2025 and broke back above it in August, so bulls now need to hold it as support.
$ETH Sitting right at its bull market support band. These past few candles have been trying to hold on to the retest.
ETH first broke below the bull market support band back in October 2025, after which it rejected on all its tests.
August was when ETH finally broke above in… https://t.co/pErgn73sbl pic.twitter.com/O08oiXYbpg
— Daan Crypto Trades (@DaanCrypto) November 8, 2026
Support sits at $2,108.59 and $2,100, with $2,000 below. The 24-hour high of $2,242.93 is the first resistance, and the daily RSI is near 40.
Ethereum’s market capitalization is $261.399 billion. ETH trades at 0.02851 BTC, down 3.2%.
The next event is October’s Consumer Price Index release on November 10 from the Bureau of Labor Statistics. Friday’s stronger jobs report has raised expectations of another Federal Reserve rate hike, according to reports.
