Why is Ethereum Price Down 13% Today?
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The Ethereum price gives a breakdown below the bottom trendline of the expanding channel pattern of the daily chart. Tuesday’s sell-off in the crypto market triggered a total liquidation of $1.99 billion across 450,642 traders, according to Coinglass data. The spot Ethereum ETFs in the U.S. saw consistent outflows over the past four days. ETH’s fear and greed down to 28% accentuates a bearish sentiment among crypto participants. Ethereum, the second-largest cryptocurrency by market capitalization, plunged over 13% during Tuesday’s U.S. market hours to trade at $3,057, its lowest since mid-July. The selling pressure is widely spread across the crypto market, as the Bitcoin price breaks below the $100,000 mark. The major factors contributing to this downtrend include the strengthening U.S. dollar, ETF outflows, and cascading liquidation in the futures market. Will Ethereum price lose $3,000 floor? ETH Faces Heavy Liquidations, ETF Outflows, and Strong Dollar Pressure Over the past week, the Ethereum price has shown a significant correlation from $4,250 to the current trading value of $3,057, projecting a 28% loss. Subsequently, the asset’s market cap plunged to $387.29 billion. Along with the U.S.-China trade tension, this downside gained its initial momentum last week as Federal Reserve Chairman Jerome Powell projected a hawkish tone for the December rate cut. This led to a risk-off sentiment in riskier assets, such as cryptocurrencies. Following the FOMC meeting, the U.S. dollar gained strength and pushed DXY to a three-month high of 99.87. As the majority of major cryptocurrencies are traded against the dollar, their negative correlation makes the crypto market expensive for investors and adds downward pressure on their prices. Another reason for the recent downtrend is the continuous outflows from the U.S.-based spot Ethereum Exchange-Traded Funds (ETFs) over the past four days. Based on data from Farside Investors, cumulative outflows in…
Filed under: News - @ November 4, 2025 10:29 pm