Ether Drops Below $1,900 as ETF Outflows and Liquidations Deepen Selloff
Ether fell below $1,900 on November 13, extending losses that began after the $2,000 level gave way, according to crypto.news and The Defiant. Spot ether ETFs recorded a sixth consecutive session of net withdrawals, and roughly $250 million in leveraged ETH positions were liquidated over 24 hours.
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Price Action and Market Backdrop
Ether traded near $1,935 on Friday, November 13, before slipping below $1,900, according to crypto.news market data, while The Defiant reported the asset falling below the $1,900 mark as losses outpaced Bitcoin. Crypto.news put the broader market decline at about 5.4% over the day, with Bitcoin falling below $70,000 and dropping roughly 6.7% over 24 hours. The two reports differ on the exact intraday low, so the most conservative reading is that ether broke the $2,000 support and traded in the $1,900 to $1,925 range, touching $1,917 at one point.
Crypto.news described the daily chart as showing lower highs and lower lows, with sellers holding control below $2,000 after several failed recovery attempts. Ether has also weakened amid inflation concerns and expectations around Federal Reserve interest rate policy, a backdrop that predates the latest drop.
ETF Withdrawals and Leveraged Losses
The Defiant reported that US spot ether ETFs recorded a sixth session of net withdrawals, though its tally for the following day remained incomplete at the time of publication. Farside Investors data cited by crypto.news showed $144.8 million in net outflows on November 11, with BlackRock's ETHA accounting for about $129.8 million of that total. Crypto.news also reported that spot ether ETFs had shed about $695.9 million from the start of November through November 11.
Leveraged positions amplified the move. CoinGlass data showed approximately $249.8 million in ether positions liquidated over 24 hours, of which $225.9 million, more than 90%, were long positions. Liquidations occur when exchanges automatically close leveraged trades after losses erode the collateral behind them, and in falling markets those forced sales can add to downward pressure.
Equities Spillover and Causation
Crypto.news tied the selloff to Nvidia CEO Jensen Huang's resignation, which pressured technology stocks and AI infrastructure names including CoreWeave, Nebius and Iren, several of which posted sharp intraday losses before partially recovering. The same outlet cautioned that the equity weakness alone does not establish what triggered the crypto decline, and that point should be read as an open question rather than a settled cause.
Ethereum Upgrade Timeline
Separately, Ethereum developers postponed the planned Glamsterdam activation on the Hoodi testnet after auditors flagged existing smart contracts that could behave differently under proposed gas-cost changes in EIP-8037 and EIP-8038, according to a November 6 Ethereum Foundation update. Further discussion is scheduled for November 19, when developers expect to review audit findings. No revised mainnet activation date has been announced.
Why It Matters
For Traders
Ether has broken $2,000 support with ETF outflows continuing, so the next checkpoint is whether the $1,917 area holds as liquidation pressure persists.
For Investors
Sustained spot ETF outflows and macro sensitivity suggest institutional demand for ether has weakened over the past two weeks, a trend worth tracking against longer-term adoption data.
For Builders
The postponed Glamsterdam testnet activation shows gas-cost changes can break existing contracts, so applications relying on current gas assumptions should review the EIP-8037 and EIP-8038 audit results on November 19.
This article is for information only and is not financial advice. Read the full disclaimer.
