Ethereum has fallen below $2,700 as the cryptocurrency market continues to decline.
summary
- Ethereum, Bitcoin and other tokens have fallen to multi-month lows, triggering the liquidation of leveraged positions.
- Spot Bitcoin and Ethereum ETFs recorded consecutive net outflows, while several other networks attracted inflows.
- Although Bitmine bought more Ethereum during the decline, the treasury finance company is now facing large unrealized losses.
Ethereum dipped below $2,700 on Friday as the cryptocurrency market experienced its biggest downturn since October, with the digital asset falling to levels last seen in July, according to market data.
Selling pressure intensified across the crypto sector, and Bitcoin fell to its lowest price in months on November 21, 2025. Market analysts say the market decline has triggered widespread liquidations of leveraged positions in Ethereum and other digital tokens.
Ethereum continues to fall as ETF outflows occur one after another
Industry data shows that crypto investment products saw net outflows for both Bitcoin (BTC) Spot and Ethereum (ETH) exchange traded funds during the same period, while other networks’ Spot ETFs saw inflows.
Market analysts said the loss of a key support level raised the possibility of further declines unless buying activity resumed. Analysts said failure to recover to previous support levels could lead to further price declines.
Bitmine, a Nasdaq-listed company that owns Ethereum, announced on November 20 that it had purchased additional Ethereum, increasing its total holdings despite the price drop. The company has not disclosed the specific acquisition amount.
Cryptocurrency research firm 10x Research reported that financial companies that hold digital assets are facing large unrealized losses due to the market correction. The company said existing shareholders would suffer significant paper losses, while such losses could pose challenges for these companies in attracting new retail investors.
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