Ethereum (ETH) is trading around $3,544–$3,548 today (Nov 12, 2025), slipping by roughly 1% over the past 24 hours. Intraday, ETH has ranged between $3,405 and $3,591 while broader crypto markets consolidate. Bitcoin is hovering near $104,900, also fractionally lower on the day. [1]
ETH price at a glance
- Spot price: ~$3,545
- 24h range: $3,405 – $3,591
- 24h momentum: Mildly negative; majors broadly flat to slightly down
- Context: Market tone cautious after several days of choppy trade; privacy tokens led gains while large caps stalled. [2]
What moved Ethereum today
ETF flows turned net negative for Ether yesterday (Nov 11, ET), with U.S. spot ETH ETFs recording about $107 million in net outflows across the complex. That steady drip of redemptions has pressured sentiment around ETH even as Bitcoin ETFs saw renewed inflows. [3]
Macro clouds linger. A prolonged U.S. government shutdown has delayed key economic releases, keeping traders on edge. As Washington moves to reopen, markets are bracing for the data deluge to resume, which could reset risk appetite across crypto. [4]
Rotation and the ETF race matter. Analysts are watching capital flows across the newest altcoin ETFs after Bitwise’s Solana ETF drew rapid attention—an example of how fresh, regulated vehicles can tug at investor attention and liquidity across the non‑Bitcoin complex. [5]
Institutional narrative remains constructive for Ethereum. A former BlackRock executive this week called Ethereum “the infrastructure” for Wall Street tokenization—supportive long‑term framing even as near‑term flows wobble. [6]
On‑chain and activity snapshot
Usage is subdued but stable. Ethereum’s on‑chain and DeFi activity show a cooling from recent peaks, consistent with today’s rangebound price action:
- Ethereum DEX volume (24h): roughly $2.37B
- Active addresses (24h): ~464k
Lower fee and volume regimes have persisted since 2024’s scalability upgrades, which pushed more activity to Layer‑2s and made base‑layer usage cheaper—supportive for end‑users, if occasionally a headwind for fee‑driven narratives. [7]
Technical picture (intraday)
- Immediate support: $3,405–$3,430 (today’s low / prior demand zone)
- Near‑term resistance: $3,585–$3,600 (today’s high / round‑number supply)
- Bias: Sideways to slightly heavy while ETF flow and macro catalysts dominate tape reading.
Numbers above reflect today’s real‑time high/low band; momentum could shift quickly around upcoming data releases.
Key storylines to watch next
- U.S. CPI (October) – scheduled for Thursday, Nov 13. A hot or cool read can ripple through rates, the dollar, and crypto risk appetite. [8]
- Daily ETH ETF flow prints. Persistent outflows tend to cap rallies; a flip back to inflows could provide fuel. [9]
- ETF competition across chains. The expanding menu of altcoin ETFs (and their fee structures) may keep reshuffling capital within the large‑cap set. [10]
- Institutional tokenization headlines. Continued moves by TradFi players to build on or around Ethereum sustain the “infrastructure” thesis even when price chops. [11]
Bottom line
Ethereum is marking time near $3.55k after a soft 24 hours, with ETF outflows and data‑dependent macro caution setting the tone. The intraday band ($3.41k–$3.59k) defines today’s battle line; the next decisive push likely comes from Thursday’s CPI and the next round of ETF flow disclosures. Until then, expect chop with a macro leash. [12]
Methodology & sources
Live price and range are pulled from real‑time market feeds; market color reflects cross‑checks with reputable financial and crypto publications and data dashboards including CoinDesk (markets wrap), Farside/SoSoValue (ETF flow trackers), Reuters (macro/market context), and DeFiLlama (on‑chain activity metrics). [13]
References
1. www.coindesk.com, 2. www.coindesk.com, 3. www.panewslab.com, 4. www.reuters.com, 5. www.reuters.com, 6. www.coindesk.com, 7. defillama.com, 8. www.bls.gov, 9. www.panewslab.com, 10. www.reuters.com, 11. www.coindesk.com, 12. www.panewslab.com, 13. www.coindesk.com
