Ethereum falls under $2,700 as ETF outflows spur crypto selloff

Ethereum fell below $2,700 on Nov. 21, 2025, during a broad sell-off in digital assets. Consecutive net outflows from spot Bitcoin and Ethereum exchange-traded funds coincided with forced liquidations of leveraged positions across major tokens.

The decline took Ether to levels last seen in July and marked the sharpest market drop since October, based on market data. Bitcoin also fell to multi-month lows on the same day after widely watched support levels failed, extending losses across the sector.

Industry figures showed spot Bitcoin and Ethereum ETFs recorded back-to-back net outflows in recent sessions, while some spot funds tied to other networks saw inflows. Market analysts noted the loss of earlier price floors and lighter buying interest during rebounds.

Company disclosures highlighted mixed positioning. Nasdaq-listed Bitmine disclosed a purchase of additional Ether on Nov. 20, increasing its treasury holdings during the downturn. The company did not provide the size of the purchase. Research firm 10x Research reported that companies with digital assets on their balance sheets now carry substantial unrealized losses following the correction.

Derivatives activity amplified the move. A build-up of leverage before the drop left many positions exposed, and rapid price swings triggered automatic closures on major platforms, adding to intraday volatility.

Trading remained fragile after the breach of key levels. Intraday bounces faded below prior support bands, and correlations among large-cap tokens rose during the session. Liquidity thinned when prices broke through widely watched thresholds, intensifying price moves.

As GNcrypto wrote previously, at Devconnect in Argentina, Vitalik Buterin contrasted Ethereum with the collapsed FTX, calling the exchange the opposite of Ethereum’s design. He said a well-designed blockchain “can’t be evil,” describing Ethereum as an open network governed by its community, with upgrades discussed and tested. He cited FTX’s centralized control and lack of transparency, where client funds were used to cover Alameda Research losses, ending in collapse and a 25-year prison sentence for Sam Bankman-Fried. He introduced “alignment” across L2s, stressing open-source code, real decentralization, and hard stress tests as public-good standards.