Ether liquidations hit $462 million as U.S. ETF outflows persist

By Tom Whitfield

Ethereum traders liquidated $462 million in derivatives positions over 24 hours, including roughly $425 million of longs, according to CoinGlass data. Long closures represented 92% of the total, while shorts contributed $37 million, as Ether fell more than 4% over the same period.

Crypto.news price data put Ether near $2,146 on Nov. 9 after the asset traded between $2,108 and $2,243 over the prior day. Ether briefly fell below $2,100 during Sunday’s sell-off, recovered part of its losses and remained below $2,200, which had previously supported prices.

What turned the decline into forced selling?

Leverage converted the price move into exchange-enforced closures. Traders using borrowed funds can no longer maintain required collateral, so exchanges close positions automatically; those sales add pressure when the underlying market is already falling.

Lookonchain reported that one account’s remaining 56,667 ETH long, worth approximately $118.4 million, had been fully liquidated. The analytics account attributed $44.78 million in cumulative losses to the trader.

Before that closure, the trader had reduced a larger 93,184 ETH position by 36,517 ETH during October in an attempt to avoid liquidation. The loss followed an earlier period of broad crypto liquidations as falling prices and weaker institutional demand increased pressure on leveraged positions.

How large were the ETF outflows?

U.S. spot Ether ETFs recorded $365.2 million in net withdrawals from Nov. 2 through Nov. 6, according to Farside Investors. The daily sequence showed two withdrawal days, a brief inflow and then renewed redemptions:

• Monday: $139.7 million withdrawn.
• Tuesday: $85.3 million withdrawn.
• Wednesday: $53 million in net inflows.
• Thursday: $99.9 million withdrawn.
• Friday: $93.3 million withdrawn.

Of Friday’s $93.3 million in withdrawals, BlackRock’s ETHA accounted for $90.8 million. Combined Bitcoin and Ether ETF withdrawals reached approximately $1.65 billion across five trading sessions, according to crypto.news.

AMINA Bank’s head of derivatives trading, Andreja Cobeljic, previously identified ETF demand as “an important measure of institutional buying interest.” He also noted that futures activity “does not necessarily represent outright bullish investment.”

How did broader markets contribute?

Ether’s decline coincided with weakness across risk-sensitive assets following the prior week’s drop in U.S. technology stocks and an earlier Nasdaq decline. Bitcoin struggled below $75,000 before trading near $75,200 during Monday’s session; XRP and Solana also remained under pressure.

The move extended a downturn that began when Ether traded near $2,800 in late September. Successive recovery attempts failed to restore the previous highs, leaving a downward price structure and resistance around $2,200, followed by $2,400.

Traders were watching $2,100 as the immediate support area, with a sustained break there putting the psychological $2,000 level back in focus. The recent swing low near $2,081 remained another monitored reference.

What do the technical indicators show?

The Relative Strength Index stood at 32.94, close to the conventional oversold threshold of 30. The Aroon Oscillator registered -28.57, while the Balance of Power indicator registered -0.14; both readings pointed to continued selling pressure.

More Crypto Online identified “a downside target zone between $1,832 and $2,069” under the analyst’s wave-count framework. The analyst said a move above $2,255, or the upper boundary of the current price channel, would provide the initial indication of a possible short-term bottom.

After Monday’s session, the next U.S. spot-ETF flow figures will test whether institutional demand returns, while a sustained break below $2,100 would shift market structure toward the $2,000 region.