Ethereum fell below $2, 000 as crypto markets sold off on Friday, November 13, 2026. Liquidations and ETF outflows coincided with the decline, but neither the figures nor technical indicators show that ETH has found a bottom.
- ETH was reported near $1, 935, down almost 6% in 24 hours.
- CoinGlass reported about $249.8 million in ETH liquidations over its 24-hour measurement window.
- US spot ETH ETFs recorded $144.8 million in net outflows on November 11, according to Farside Investors.
- Ethereum developers delayed the planned Hoodi testnet fork for Glamsterdam as they assess possible contract-compatibility issues.
A sharp drop, with leveraged trades under pressure
In the November 13 market snapshot, ETH traded near $1, 935 after reaching $1, 917. Bitcoin fell below $70, 000, and the broader crypto market was down about 5.4%. These figures reflect that market window, not current prices or a forecast.
CoinGlass reported approximately $249.8 million in ETH liquidations over 24 hours: $225.9 million in long positions and $23.9 million in shorts. A leveraged long is a bet that prices will rise, made with borrowed funds or other leverage. If losses grow too large, an exchange can automatically close the position.
When many leveraged positions close during a decline, the selling can add pressure to prices. But the liquidation total doesn’t show how much those closures moved ETH’s price or whether the selloff is close to ending.
ETF outflows are a signal, not a complete explanation
Farside Investors reported $144.8 million in net withdrawals from US spot Ethereum ETFs on November 11. BlackRock’s ETHA accounted for about $129.8 million. The cited figures put net outflows from the start of November through November 11 at about $695.9 million. ETF outflows amid ETH’s price slump are one part of the market picture.
Net outflows mean more money left the funds than entered them during the stated period. They don’t explain why investors withdrew or prove that ETF activity caused ETH’s decline. Broad crypto selling, fund flows and liquidations all shaped the market backdrop, but the available figures don’t point to a single trigger.
Glamsterdam pause concerns testnet compatibility
Ethereum developers also delayed the planned Glamsterdam fork on Hoodi, a test network for changes before they reach Ethereum’s live network. The Ethereum Foundation’s November 6, 2026 update, revised on November 9, said developers were investigating potential compatibility problems involving proposed changes EIP-8037 and EIP-8038.
The proposals would change how much gas, Ethereum’s transaction fee, is charged for certain operations and for state. The Foundation said Chainsecurity had identified projects that could be vulnerable because they rely on assumptions about how the system works, and the proposed changes could break those assumptions. The Foundation also said it had received four reports identifying deployed contracts that could be affected.
That calls for careful review, but it doesn’t mean all existing contracts would fail. The Foundation said it was examining the reports, contacting potentially affected protocols and considering possible specification revisions. Developers planned to discuss the findings and options on November 19. No new Hoodi or mainnet activation date had been announced, and Glamsterdam had not been cancelled. Work on the separate Hegota upgrade was continuing.
A testnet pause doesn’t mean the live network has failed. Test networks exist to catch compatibility risks before changes reach mainnet, though the pause leaves the upgrade timeline uncertain. Glamsterdam’s stated decentralization goals are no reason to cut corners on testing.
What technical levels can and can’t tell traders
More Crypto Online identified $1, 920 as a Fibonacci support level, with $1, 832 as another level to watch if the first gave way. Fibonacci levels are price references based on ratios. They’re part of technical analysis, not guaranteed floors. The analyst said ETH remained in a sharp decline, with no signal confirming a low.
CrediBULL Crypto identified $1, 380 as an invalidation level in its longer-term wave analysis. A move to that price would weaken that particular analysis. It was not a prediction that ETH would immediately fall to $1, 380.
The reported daily RSI reading was 24.09, below the commonly used 30 threshold for an “oversold” market. The MACD remained negative. RSI measures the strength of recent price moves, while MACD helps assess trend and momentum. Both depend on the chart and measurement time, and neither guarantees a rebound. An asset can stay oversold as its price continues to fall.
Key questions about Ethereum’s drop
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Why did ETH fall below $2, 000?
The decline came amid broader crypto selling, ETF outflows and leveraged liquidations. The available data doesn’t establish a single cause or show how much each factor contributed.
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How much ETH was liquidated?
CoinGlass reported about $249.8 million over its 24-hour measurement window: $225.9 million in long positions and $23.9 million in shorts.
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Was Glamsterdam cancelled?
No. Developers delayed the planned Hoodi testnet fork while investigating possible compatibility issues. No new mainnet date had been announced.
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Has ETH reached a bottom?
No confirmed bottom was identified in the cited market coverage. Support levels and oversold readings are worth watching, but they don’t guarantee a reversal.
The selloff has put ETH’s near-term support levels under pressure, but the available evidence doesn’t show what comes next. Traders can watch those levels. Ethereum developers are taking time to investigate a testnet issue before it reaches the live network.
