Ethereum has lost the $2,100 level.
ETH was trading at around $2,056.91 on 11 November 2026, down 3.02% in 24 hours on $23.66 billion of trading volume, according to CoinStats. Bitcoin fell with it, trading at around $73,627.89, down 1.46% on $36.85 billion of volume. The trigger was not crypto-specific: hotter-than-expected US inflation data pushed up bets on a December Federal Reserve rate hike, and risk assets across the board sold off.
What happened: hot CPI, ETF outflows, and a risk-off day
The US Bureau of Labor Statistics reported October consumer prices up 0.4% month-on-month, above the 0.3% forecast, with core CPI up 0.3%. Markets reacted quickly: traders are now pricing a December Fed rate hike at 85% to 96%, according to CoinStats, and some traders are even discussing a larger 50-basis-point move
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Bitcoin briefly fell below $73,000 on 10 November, its lowest level since around 21 August, with Coinbase data showing a low of $72,643.48 at 16:38 UTC, CoinStats reported. Ethereum fell further in percentage terms, and the pain spread across the market: XRP and Solana both dropped about 3.5%, while Zcash led declines, sliding 11.8% to $1,014.31, according to Analytics Insight.
The ETF flows told the same story. US spot Bitcoin ETFs recorded net outflows of $201 million and spot Ethereum ETFs $185 million on 9 November, marking a third consecutive session of outflows for both, KuCoin's daily market report noted. CoinSt
ats separately reported Ethereum spot ETFs losing $184.5 million on 9 November. Institutional buyers, who had been a steady source of demand through much of 2026, are stepping back — at least for now.
The numbers behind the sell-off
The broader market picture on 11 November 2026 looked like this:
- Bitcoin (BTC): ~$73,628, down 1.46% in 24 hours; market cap about $1.48 trillion
- Ethereum (ETH): ~$2,057, down 3.02% in 24 hours; market cap about $252 billion
- Total crypto market cap: about $2.48 trillion, down 4.0% in 24 hours
- Bitcoin dominance: about 59.6–60%
- Crypto Fear & Greed Index: 29, in "Fear", down from 32 the day before
The next decision point is the FOMC meeting on 9 December. Until then, traders will watch Friday's producer price report, which could move yields again and test Bitcoin support near $73,000.
The key levels to watch for Ethereum
For Ethereum, the first job is to reclaim $2,100. CoinStats notes ETH closed at $2,056.91 and needs to get back above $2,100 before any recovery can build. Below that, the $2,031–$2,050 zone — the low of the past 24 hours — is the next support to hold.
Bitcoin's levels matter too, because ETH rarely recovers while BTC is still falling. KuCoin's report puts BTC support at $72,700–$73,000, with a sustained recovery first requiring a reclaim of $74,500–$75,000.
One timing note: the US bond market is closed on 11 November for Veterans Day, while the stock market opens as usual. That means some of the usual buyers are away from their desks today, which can make moves sharper than normal in both directions.
Why Ethereum is falling harder than Bitcoin
Ethereum is down more than Bitcoin over the past 24 hours — 3.02% versus 1.46% — and that gap is worth understanding. ETH is more sensitive to interest-rate expectations than BTC because more of its investment case rests on future growth: staking yields, DeFi activity and network upgrades all look less attractive when risk-free rates rise. When the Fed is expected to hike, high-beta assets like ETH usually fall first and furthest.
The ETF outflows add to the pressure. Three straight days of outflows from both BTC and ETH ETFs suggest institutions are de-risking ahead of the December Fed meeting rather than buying the dip.
None of this is a verdict on Ethereum's long-term prospects. It is a reminder that in the short term, crypto trades as a risk asset — and right now, the macro wind is blowing against risk.
The bottom line
Ethereum has fallen below $2,100 after hot US CPI data lifted December rate-hike bets to as high as 96%, spot ETH ETFs lost around $185 million in a single day, and the Fear & Greed Index slipped to 29. The level to watch is $2,100: reclaim it and the sell-off may stabilise; lose the $2,031 support below it and the next leg down could come quickly.
Watch the December Fed meeting on 9 December — that is the decision point the whole market is now trading toward.
Disclaimer: This article is for informational purposes only and is not financial advice. Cryptocurrency prices are volatile and you can lose money. Do your own research before making any investment decision.
Sources: CoinStats, "Crypto News Today: Latest Market Update – 11 November 2026"; KuCoin, "Crypto Daily Market Report" (11 Nov 2026); WEEX Daily Market Brief (11 Nov 2026); Analytics Insight, "Crypto Prices Today: Bitcoin Slips to USD 73.8K, Zcash Falls" (11 Nov 2026); SmartXSignals, "Market Notes Crypto News Analysis Nov 2026".
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