Ethereum Price Today, November 17, 2025: ETH Slips Below $3,000 as ETF Outflows and Liquidations Shake Crypto Market

Ethereum is ending Monday on the back foot. As of late trading on November 17, 2025, ETH is hovering just under the key $3,000 level, changing hands around $2,990–$3,000 on major exchanges after a volatile session that saw intraday prices swing between roughly $2,960 and $3,220. ^[1]

The move leaves Ethereum:

Down about 3% over the last 24 hours
Roughly 16–17% lower over the past week
Around 23% below early‑November highs near $3,900 ^[2]

At the same time, the broader crypto market is under intense pressure: Bitcoin has dropped below $93,000, ether briefly dipped under $3,000, and sentiment has slid into “extreme fear” on major crypto fear‑and‑greed gauges. ^[3]

Below is a look at today’s Ethereum price action, the main news stories from November 17, 2025, and the key levels and catalysts traders are watching next.

Ethereum price today: key numbers at a glance

Based on aggregated spot data and daily reference prices:

Current ETH price: ≈ $2,990–$3,000
24h change: about ‑2.5% to ‑3.3%
Day range (high–low): ≈ $3,220 → $2,960 ^[4]
7‑day move: down roughly 16–17% from around $3,570 last week
Drawdown from early‑November peak: about ‑23% from prices close to $3,900 ^[5]

On a daily candle basis, ETH:

Opened near $3,100,
Spiked toward $3,220,
Sold off below $3,000,
And is trying to stabilize around the $3,000 mark into the close. ^[6]

Technically, that keeps Ethereum at multi‑month lows and just above a zone many analysts have been treating as “must‑hold” support.

Why is Ethereum down today?

Today’s ETH price action is not happening in isolation. It sits at the intersection of macro worries, record crypto ETF outflows, cascading liquidations, and a major on‑chain reshuffle of who actually holds ETH.

1. Macro jitters and ETF outflows hammer crypto

Analysts widely link this month’s crypto drawdown to a shift in expectations for U.S. Federal Reserve policy, with markets dialing back hopes for aggressive rate cuts and moving into a more defensive, “risk‑off” positioning. That has hit Bitcoin and Ethereum especially hard. ^[7]

On the investment‑product side, the data is stark:

Global crypto ETPs saw about $2 billion in net withdrawals in a single week, the heaviest outflow since early 2024. ^[8]
U.S. spot Ethereum ETFs alone recorded around $729 million in weekly net outflows, with all nine products seeing no new net inflows – one of the worst weeks on record for ETH ETFs. ^[9]
On‑chain and ETF‑flow dashboards suggest over $1.2 billion may have left Ethereum ETFs this month, putting November on track for a record outflow period. ^[10]

At the same time, a comparative analysis of ETF flows highlights a rotation away from Ethereum:

In early November, Bitcoin ETFs logged roughly $524 million in inflows,
While Ethereum ETFs saw about $107 million in outflows,
Bitcoin ETFs now manage an estimated $137.8 billion, versus roughly $20 billion for Ethereum products,
And Solana‑based ETFs attracted about $8 million in inflows over just 11 days, underscoring investor interest in alternatives to ETH. ^[11]

That combination — macro uncertainty plus investors pulling money out of ETH‑linked funds — helps explain why Ethereum has underperformed Bitcoin during the current sell‑off.

2. Liquidations and leverage amplify the move

Today’s candle isn’t just about holders quietly selling; leverage is being flushed out:

A sharp intraday drop across BTC and ETH triggered around $340 million in liquidations in just four hours, according to derivatives data tracked by market analysts. ^[12]
A separate breakdown of the latest leg of the sell‑off notes that as Bitcoin slid below $92,000 and Ethereum fell under $3,000, total leveraged liquidations surged toward $800 million. ^[13]
Individual stories of over‑leveraged traders being wiped out – including a high‑stakes trader losing more than $160 million in a single series of liquidations – underscore just how stressed derivatives markets have become. ^[14]

When forced liquidations hit, sell orders cascade into already thin liquidity, which is why ETH can swing hundreds of dollars in a few hours even without any single “headline” shock.

3. ETFs bleed, but whales and corporate treasuries accumulate

Zooming out from intraday chaos, on‑chain data shows a major redistribution of ETH ownership.

A detailed analysis from CryptoSlate and Glassnode highlights that: ^[15]

Older ETH holders (3–10 year coins) are now spending and selling at the fastest pace since early 2021, effectively taking profits after a long bull run.
Leveraged whales have been forced to unwind; one heavily levered Aave user reportedly had to move and de‑risk hundreds of thousands of ETH as prices fell, booking tens of millions of dollars in losses.
At the same time, new “ETH treasury” entities are quietly absorbing supply.

Two names stand out:

BitMine, chaired by analyst Tom Lee, has built a treasury of around 3.56 million ETH – about $11 billion at recent prices – roughly 2.9% of total supply. ^[16]
SharpLink holds more than 850,000 ETH, using staking rewards to grow its position. ^[17]

Combined, these treasuries control over 4.35 million ETH, much of it staked and effectively removed from the liquid float.

Even as ETF investors head for the exits, these programmatic accumulators are buying into the weakness, betting on Ethereum’s long‑term role as a settlement layer for stablecoins, DeFi, and tokenized assets.

4. Ethereum vs Bitcoin: “riskier” in the eyes of the market

Multiple market commentaries today emphasize a growing perception gap between Bitcoin and Ethereum:

A recent CoinDesk analysis notes that ETF and flow data suggest investors now view ETH as “riskier” than BTC, with traders watching whether ETF outflows ease or continue in the coming weeks. ^[18]
AInvest’s ETF breakdown shows Bitcoin enjoying regulatory clarity and a strong “macro hedge” narrative, while Ethereum’s ETF story is clouded by staking‑related regulatory questions and competition from newer L1 networks like Solana. ^[19]

This doesn’t mean Ethereum is structurally weaker, but today’s flows clearly favor Bitcoin, and that matters in the short term for price.

5. Fusaka upgrade, Devconnect Buenos Aires and the fundamental backdrop

Against the backdrop of fear and liquidations, Ethereum’s fundamental roadmap is quietly marching forward.

Fusaka upgrade: scheduled for early December

Several ecosystem updates this month confirm the timeline and shape of Fusaka, Ethereum’s next major hard fork:

The upgrade is now widely expected to activate on or around December 3, 2025, following final client coordination. ^[20]
Technical deep dives highlight Fusaka’s focus on scalability and infrastructure, including:
- PeerDAS‑style data availability enhancements,
- Verkle trees,
- A higher gas limit (around 150 million) to better support rollups and high throughput workloads,
- Efficiency improvements that make running nodes less resource‑intensive. ^[21]

In short, Fusaka is designed to lower costs for Layer‑2s and improve Ethereum’s long‑term capacity, even if it doesn’t dramatically change the user experience overnight.

However, one AMBCrypto report today notes that a roughly 2 million ETH unlock around the same period could add temporary selling pressure, raising the question of whether Fusaka’s bullish narrative can offset fresh supply. ^[22]

Devconnect & Ethereum Day: builders meet while prices bleed

Today also marks the start of Devconnect ARG – dubbed the first “Ethereum World’s Fair” – in Buenos Aires, running from November 17–22 at La Rural. ^[23]

Ethereum Day, the flagship opening event, runs today from 9am to 7pm with talks on upcoming upgrades, rollup ecosystems, and real‑world applications. ^[24]

While conferences don’t usually produce immediate price moves, they:

Help align developers and protocol teams around the post‑Fusaka roadmap,
Showcase real‑world use cases that reinforce ETH’s long‑term demand story,
And can quietly seed future narratives that markets latch onto once the macro picture improves.

Right now, though, macro and flows are overpowering fundamentals in the short term.

Technical view: key Ethereum levels to watch after today’s close

Today’s break under $3,000 puts several critical price zones in focus.

Short‑term “no man’s land”

CryptoPotato’s latest ETH analysis describes the current range as “in the middle of nowhere”: ^[25]

ETH has been in steady decline since November 14,
Briefly dipped below $3,050 over the weekend,
Then bounced toward $3,190 before rolling over again today.

According to that read:

A decisive push back above roughly $3,650 would be needed to materially improve Ethereum’s technical outlook.
If the current region fails, the $2,800 area is flagged as a major support‑turned‑resistance zone in this cycle. ^[26]

Bear‑case targets if $3,000 fails

A more aggressively bearish outlook from Finance Magnates warns that: ^[27]

Ethereum is flirting with a “death cross” where the 50‑day moving average crosses below the 200‑day, historically a strong warning signal in prior cycles.
A clean break of the current $3,000–$3,100 support zone could open a path toward:
- $2,700–$2,750 (prior local highs and a key Fibonacci retracement),
- Around $2,150 (June lows),
- And in an extreme scenario, $1,370–$1,500, revisiting April 2025’s bottom area.

These are scenario levels, not guarantees, but they illustrate how much downside some technical analysts still see if the macro picture worsens and ETF outflows persist.

Bull‑case and “supercycle” arguments

At the same time, several voices are leaning into the volatility:

CryptoPotato cites analysts who view ETH’s roughly 30–35% correction as an “ideal accumulation zone” versus Bitcoin, arguing that ETH has held up surprisingly well despite BTC’s worst week of the year. ^[28]
Tom Lee, via both CryptoSlate and BitMine communications, frames the current sell‑off as part of a longer‑term “supercycle”, drawing parallels to Bitcoin’s 100x run since 2017 and suggesting a potential cycle top 12–36 months from now rather than today. ^[29]

In that view, today’s pain is the cost of long‑term upside — but it still doesn’t remove the risk of deeper short‑term drawdowns.

Today’s big Ethereum news stories (November 17, 2025)

Here’s a quick recap of the headline‑level Ethereum news driving or contextualizing today’s price action:

Crypto‑wide sell‑off as Bitcoin drops below $93,000 and Ether hits multi‑month lows near $3,000, with sentiment stuck in “extreme fear.” ^[30]
Multiple outlets report ETH falling under $3,000 and hovering near ~$2,966, capping a roughly 17% weekly slide. ^[31]
Analysts highlight record‑scale liquidations and nearly $800 million wiped from leveraged positions as BTC and ETH plunge. ^[32]
Flow data shows crypto ETPs register ~$2 billion in weekly outflows, with Ethereum ETFs seeing $729 million in net redemptions and zero net inflow days. ^[33]
CryptoSlate and Coinspeaker detail how older ETH holders are selling into the correction while institutional treasuries like BitMine and SharpLink accumulate millions of ETH for staking and long‑term balance‑sheet use. ^[34]
Technical analysts warn Ethereum has broken key support and may face further downside unless it can reclaim the $3,600–$3,900 region in the coming weeks. ^[35]
Meanwhile, bullish pieces focus on the upcoming Fusaka upgrade (early December), record Ethereum throughput, and Devconnect Buenos Aires as long‑term positives that today’s sell‑off may be obscuring. ^[36]
In market‑structure news, Singapore Exchange (SGX) announced plans to launch institutional‑grade Bitcoin and Ether perpetual futures, aiming to compete with offshore “bucket shop” derivatives venues and potentially deepen regulated liquidity for ETH. ^[37]

What ETH traders and long‑term holders should watch next

This article can’t tell you whether to buy, sell, or hold — but based on today’s data, these are the variables most likely to steer Ethereum’s price in the coming days and weeks:

$3,000 and $2,800 support
- Holding above $3,000–$3,100 would strengthen the case for at least a short‑term bounce.
- Losing that zone with conviction puts $2,800 and then the low‑$2,000s on the map for bears. ^[38]
ETF and ETP flow data
- Continued large outflows from Ethereum ETFs would confirm institutional risk‑off behavior.
- A flip back to neutral or positive flows could be an early sign that the worst of the selling is behind the market. ^[39]
Macro signals and Fed communications
- Any shift in expectations around rate cuts or broader liquidity conditions can rapidly change risk appetite across crypto and tech. ^[40]
Fusaka upgrade milestones
- Client releases, testnet stability, and confirmation of the December 3 activation will matter to fundamental investors focused on Ethereum’s scalability story. ^[41]
On‑chain redistribution trends
- If ETF redemptions and long‑term holder selling continue while treasuries and whales keep accumulating, that may eventually tighten free float and set up sharper rebounds once sentiment improves. ^[42]

Final thoughts

On November 17, 2025, Ethereum finds itself at a psychologically crucial round number, with ETH trading just below $3,000 amid:

Aggressive ETF and ETP outflows,
A wave of liquidations and deleveraging,
A visible rotation of risk capital from Ethereum to Bitcoin and, to a lesser extent, Solana,
Yet simultaneously, institutional treasuries and long‑term builders doubling down ahead of the Fusaka upgrade.

For short‑term traders, the focus is on whether $3,000 and $2,800 hold and how ETF flows look over the coming sessions.
For long‑term holders, today’s tape may feel brutal, but many analyses frame it as part of a larger redistribution and “supercycle” reset rather than the end of the story for Ethereum.

As always, cryptocurrencies are highly volatile and risky assets. This overview is for information only and is not investment advice. Anyone considering exposure to ETH should carefully assess their risk tolerance, time horizon, and do independent research before making decisions.

Which Bitcoin And Ethereum ETFs Are The Best?