ETH’s fall below $2, 000 came alongside reported spot ETF outflows, a large wallet sale and heavy liquidations of leveraged long positions. These factors may have added pressure, but the available data can’t show how much each contributed or prove that ETF withdrawals caused the decline.
- BeInCrypto reported $695.9 million in November-to-date ETF outflows; CoinGlass recorded a small inflow on November 13.
- Lookonchain reportedly tracked a 2, 000 ETH sale from a wallet it identified as Ethereum Foundation-linked; ownership has not been confirmed.
- CoinGlass recorded $466.33 million in ETH futures liquidations over 24 hours in a November 14 snapshot, mostly from long positions.
- ETH later fell below the cited $1, 832.78 technical level, which was never a guaranteed floor.
ETF outflows may have added pressure, but they don’t prove the cause
In a report dated November 13, 2026, BeInCrypto put US spot Ethereum ETF net outflows at about $695.9 million for November to date. It said flows were negative in seven of the first eight trading sessions. Net outflows mean more money left the funds than entered them during the period measured.
That figure is a source-reported snapshot, not an uncontested final tally. CoinGlass lists a $2.30 million net inflow on November 13, while BeInCrypto reports outflows across most of the month’s early sessions. The available data doesn’t explain the difference. The figures may reflect different data snapshots or methods.
ETF redemptions can lead a fund to sell some of its underlying ETH, depending on how it handles withdrawals. But net flows alone don’t show when any ETH was sold, how much reached the open market or how it affected the price. Outflows are a plausible source of pressure, not proof of what caused the sell-off.
A reported wallet sale, with an important qualification
BeInCrypto reported that Lookonchain tracked a 2, 000 ETH sale on November 13, worth about $3.87 million at the time, from wallet 0x5CBC. Lookonchain identified the wallet as linked to the Ethereum Foundation. BeInCrypto said sales it tracked since October 26 had reached 6, 785 ETH.
“Linked to” doesn’t mean ownership is confirmed. The available reporting doesn’t establish that the Ethereum Foundation controls the wallet, and includes no statement from the Foundation about the transaction. The sale is a notable on-chain event. Claims about the organization’s intent would go beyond the evidence.
Leveraged traders absorbed a sharp hit
CoinGlass’s November 14 snapshot, updated at 22:59 UTC, recorded $466.33 million in ETH futures liquidations over the preceding 24 hours: $428.78 million in long positions and $37.55 million in shorts. Longs, meaning traders positioned for a price rise, accounted for roughly 92% of the liquidations.
A liquidation forcibly closes a leveraged position when a trader can no longer meet margin requirements. As prices fall, liquidations of long positions can add forced selling and deepen the decline. They help explain how a move can intensify, but not necessarily what set it off.
CoinGlass also reported that open interest fell 9.65% over 24 hours to $21.17 billion, while the open-interest-weighted funding rate stood at -0.0071%. Open interest measures the value of outstanding futures contracts. Funding is a periodic payment between traders in perpetual futures. In this snapshot, the figures show positions being unwound and funding turning negative, not a dependable signal of what comes next.
CoinGlass listed $54.52 billion in futures volume and $3.71 billion in spot volume over the same 24-hour period. These provider-specific figures can vary with data coverage and measurement methods, so they don’t precisely measure leverage’s role in the decline.
Different snapshots show how quickly ETH fell
BeInCrypto reported ETH at $1, 939 on November 13. CoinGlass recorded a November 13 daily close of $1, 929.9, followed by a November 14 low of $1, 729.2 and close of $1, 752.3. At 22:59 UTC on November 14, CoinGlass listed ETH at $1, 740.3, down 9.81% over 24 hours.
These readings come from different providers and times, and may use different price calculations. They aren’t competing quotes for the same moment. Taken together, they show a steep move over roughly a day.
For technical context, BeInCrypto cited analyst More Crypto Online, who identified Fibonacci levels at $1, 920.51 and $1, 832.78. Fibonacci levels are chart-based reference points traders use to assess possible support or resistance. They aren’t guaranteed floors. ETH’s subsequent low below $1, 800 makes that distinction clear.
A move back above $2, 000 could be an early sign of improving momentum, but reclaiming a round-number level alone wouldn’t confirm a lasting recovery. The available data doesn’t establish that ETH’s 50-day exponential moving average had crossed below its 200-day average.
Key questions about ETH’s price pressure
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Did ETF outflows contribute to ETH’s decline?
They may have added pressure. BeInCrypto reported $695.9 million in November-to-date net outflows. CoinGlass reported a $2.30 million inflow on November 13, and neither figure shows how much ETF activity translated into market selling.
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Did the Ethereum Foundation sell ETH?
Lookonchain reportedly tracked a 2, 000 ETH sale from a wallet it identified as Foundation-linked. The available reporting doesn’t confirm that the Foundation owned or controlled the wallet.
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Were leveraged ETH traders liquidated?
Yes. CoinGlass recorded $466.33 million in ETH futures liquidations over 24 hours in its November 14 snapshot. Roughly 92% involved long positions.
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Did ETH hold the $1, 832.78 technical level?
No. CoinGlass recorded a November 14 low of $1, 729.2. The cited Fibonacci level was an analyst’s reference point, not a guaranteed price floor.
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Would a move above $2, 000 guarantee a recovery?
No. It could suggest improving momentum, but a brief move above that level wouldn’t, by itself, establish a lasting trend change.
The November snapshots point to several possible sources of pressure: ETF withdrawals reported by BeInCrypto, a tracked wallet sale and a wave of futures liquidations. The evidence shows a sharp, leveraged sell-off, but doesn’t pin the decline on one seller or market signal. For investors, separating a reported event from a proven cause is more useful than claiming to know where the bottom is. Ethereum’s ongoing work on resilience, including its quantum threat preparations, is a separate but relevant part of the Foundation’s broader responsibilities.
