Ether falling below 2,000 isn’t about what’s happening on-chain—it’s about the ETF faucet.
At noon on November 13, $ETH was trading at 1,927, down 6.1% in 24 hours.
Since November 5, Ether has fallen from 2,434 to 1,927, down 20.8%; Bitcoin has dropped from 80,668 to 68,656, down 14.9%.
Here’s the difference: spot Ether ETFs have seen outflows for seven straight weeks—$300 million a week, $2.1 billion in total. Bitcoin saw $2 billion over those three weeks.
At $300 million a week, there’s no one to absorb the selling.
In liquidations, Ether accounted for $120.2 million, with 87.7% coming from long positions. Put simply, leverage moves faster than ETFs—and gets wiped out faster too.
I’m watching 1,900. If it breaks, the next level to watch is 1,800.
#LetsDoTheMath
At noon on November 13, $ETH was trading at 1,927, down 6.1% in 24 hours.
Since November 5, Ether has fallen from 2,434 to 1,927, down 20.8%; Bitcoin has dropped from 80,668 to 68,656, down 14.9%.
Here’s the difference: spot Ether ETFs have seen outflows for seven straight weeks—$300 million a week, $2.1 billion in total. Bitcoin saw $2 billion over those three weeks.
At $300 million a week, there’s no one to absorb the selling.
In liquidations, Ether accounted for $120.2 million, with 87.7% coming from long positions. Put simply, leverage moves faster than ETFs—and gets wiped out faster too.
I’m watching 1,900. If it breaks, the next level to watch is 1,800.
#LetsDoTheMath
