Ethereum price has fallen more than 2% to $2,062 over the past 24 hours as hotter-than-expected US inflation data renewed concerns about Federal Reserve interest rates, while ETF withdrawals and leveraged liquidations added to selling pressure.<\/p>\n
\n Summary<\/span>\n <\/p>\n <\/p>\n October consumer prices rose 0.4% month over month, exceeding expectations of 0.3%. Core inflation increased 0.3%, above forecasts of 0.2%, raising expectations that the Federal Reserve could maintain restrictive monetary policy or raise rates again.<\/p>\n Ethereum price fell more than Bitcoin, which declined approximately 1% during the same period. The cryptocurrency was already trading below $2,200 before Tuesday\u2019s inflation report added pressure to the market.<\/p>\n <\/p>\n The latest inflation report has renewed concerns about the Federal Reserve\u2019s December interest rate decision, with traders reassessing expectations for borrowing costs.<\/p>\n Although headline inflation slowed from September\u2019s 0.6% monthly increase, core CPI remained unchanged at 0.3%. The figures showed that underlying price pressures persisted despite the slowdown in overall inflation.<\/p>\n Higher interest rates can weigh on cryptocurrencies because investors have access to interest-bearing assets offering comparatively predictable returns. The latest figures coincided with declines in US equities and other major cryptocurrencies.<\/p>\n Ethereum\u2019s losses were accompanied by considerable activity in leveraged derivatives markets.<\/p>\n According to CoinGlass, Ethereum recorded<\/a> over $258 million in liquidations over the reported 24-hour period. Long positions accounted for $192 million, representing 74% of the total, while short liquidations reached $67 million.<\/p>\n Across the cryptocurrency market, liquidations totaled approximately $723 million, with traders holding long positions accounting for most of the losses.<\/p>\n The forced closures occurred as Ethereum approached $2,000, a price level the cryptocurrency has tested during previous selloffs.<\/p>\n Institutional investment products continued recording withdrawals before the latest inflation report.<\/p>\n Data from Farside Investors<\/a> showed that US spot Ethereum ETFs recorded $184.6 million in net outflows on November 9, their third consecutive trading session of withdrawals.<\/p>\n BlackRock\u2019s ETHA accounted for $119.3 million, while Grayscale\u2019s Ethereum Mini Trust recorded $25 million in withdrawals. Fidelity\u2019s FETH lost $19.1 million during the session.<\/p>\n As crypto.news previously reported<\/a>, Ethereum had already fallen toward $2,120 on November 10 despite continued purchases by institutional treasury company BitMine.<\/p>\n Meanwhile, blockchain analyst Lookonchain reported that a wallet linked to the Ethereum Foundation sold another 1,000 ETH, worth approximately $2.03 million.<\/p>\n The transaction followed an earlier sale of 1,000 ETH worth roughly $2.13 million on November 10, according to the same analytics account.<\/p>\n Crypto analyst Ali Martinez reported<\/a> that large Ethereum holders had reduced their holdings by approximately 17,800 ETH over the preceding week, valued at nearly $40 million.<\/p>\n The reported wallet movements provide evidence of selling activity among certain holders, although they do not establish how much of Ethereum\u2019s overall price decline those transactions caused.<\/p>\n Not all large Ethereum holders have been reducing their exposure during the decline.<\/p>\n According to Lookonchain, the wallet group known as 7 Siblings purchased 10,792 ETH for approximately $22 million, paying an average price of $2,038 per token.<\/p>\n The purchases<\/a> occurred as Ethereum traded close to its recent lows, contrasting with the selling reported from other large wallets.<\/p>\n BitMine has continued accumulating Ethereum through the market decline. Its latest treasury update<\/a> was followed by another purchase of 9,587 ETH, bringing its reported holdings to approximately 6.07 million tokens.<\/p>\n Meanwhile, Santiment reported deteriorating cryptocurrency sentiment across X, Reddit and Telegram.<\/p>\n Its latest social data showed Ethereum receiving 0.88 bullish comments for every bearish comment. Bitcoin registered 0.82, while XRP recorded 0.49.<\/p>\n \ud83d\udea8 Retail Fear is Reaching a BOILING POINT As Crypto Tests Major Lows!<\/p>\n \ud83d\ude28 Bitcoin, Ethereum, and XRP sentiment has fallen deep into bearish territory according to our X, Reddit, Telegram and other social platform data. BTC sits at 0.82 bullish comments per bearish one, ETH at\u2026 pic.twitter.com\/Dn9dreTVNH<\/a><\/p>\n\n
Why is Ethereum price down today?<\/strong><\/h2>\n
Ethereum ETF outflows and whale selling add pressure<\/strong><\/h2>\n
Ethereum buyers accumulate ETH despite weak market sentiment<\/strong><\/h2>\n
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