Ethereum Price Today, November 18, 2025: ETH Wobbles Around $3,050 After Breaking Below $3,000

Ethereum is trading around $3,050 today (November 18, 2025), after briefly slipping below the psychologically important $3,000 level as part of a sharp, Bitcoin-led crypto sell-off. ^[1]

Across major exchanges and price trackers, ETH has spent the last 24 hours in a rough $2,950–$3,220 range, with most data providers showing a daily loss of roughly 5% and a drop of more than 20% over the past month. ^[2]

At the same time, Bitcoin has fallen toward the $90,000 mark, erasing its gains for 2025 and dragging the broader crypto market into the red. Global crypto market capitalisation has slid to about $3.1–$3.2 trillion, and sentiment gauges such as the crypto Fear & Greed Index sit in “Extreme Fear” territory. ^[3]

Key takeaways for Ethereum on November 18, 2025

Spot price: around $3,050 at press time.
24h move: down about 5% compared with yesterday’s close. ^[4]
Day’s trading range: roughly $2,950–$3,220, with multiple breaks below $3,000. ^[5]
Market cap / volume: about $368B market cap and more than $24B in 24h trading volume, keeping ETH solidly the #2 crypto asset. ^[6]
Bigger picture: ETH is now about 38% below its August 2025 all‑time high near $4,950 and roughly 23% lower over the past month. ^[7]

What is happening in the crypto market today?

Today’s Ethereum move can’t be separated from a broad risk‑off shift across crypto:

Bitcoin slide: BTC briefly dropped as low as the high‑$89,000s–low‑$90,000s, its lowest levels in around six to seven months and roughly 26–27% below its October record near $126,000. ^[8]
Market-wide sell-off: Analytics outlets report nearly all major altcoins in the red, with Ethereum, XRP, Solana, Cardano and BNB posting mid‑single‑digit daily losses as traders de‑risk. ^[9]
Macro and ETF pressure: Commentators point to uncertainty around future U.S. rate cuts, a recent government shutdown–related liquidity squeeze, and heavy outflows from crypto ETFs as key drivers of the downturn. ^[10]
Extreme sentiment: CoinMarketCap and other dashboards show the crypto Fear & Greed Index in the low‑teens, firmly in “Extreme Fear,” while on‑chain analytics firm Santiment calls the environment one of “extreme pain” for traders. ^[11]

Despite the overall red sea, a few outliers like Internet Computer (ICP) have posted double‑digit gains, highlighting how capital is rotating selectively even in a risk‑off tape. ^[12]

Today’s key Ethereum headlines (November 18, 2025)

A cluster of Ethereum‑focused stories hit the wires today. Here’s a quick news‑roundup, all dated 18 November 2025 unless noted:

“Ethereum Price Crashes Below $3,000 as Bitcoin Triggers Market Meltdown” – Bitget
- ETH “officially fell under the psychological $3,000 mark”, confirming a break of a support level that had held for weeks.
- Technicians highlight repeated rejections near $3,200 and see potential downside targets around $2,900, $2,800 and even the $2,600 zone if Bitcoin keeps sliding. ^[13]
“[LIVE] Crypto News Today… BTC Below $90K, ETH Under $3K” – Cryptonews
- A live market blog notes a third straight day of declines, with ETH “briefly dipping under the $3,000 mark” as Layer‑2 tokens are hit even harder, dropping over 7% on average. ^[14]
“Crypto Prices Today: Bitcoin Tumbles 5.1% at $90,110 and Ethereum at $2,994 Lead Broad Market Selloff” – Analytics Insight
- Analytics Insight reports ETH at about $2,994, down 5.5% on the day, with a market cap near $363B and around $46.8B in trading volume. ^[15]
“Cryptocurrency Price Today (November 18): Bitcoin Dips… Here’s Why” – ABP Live
- The outlet shows ETH at about $3,029.60, down 5.25% in 24 hours, and notes that global crypto market cap has fallen to roughly $3.1T, with the overall Fear & Greed Index at 15 (Extreme Fear). ^[16]
“Ethereum (ETH) Price: Drops to $3,000 as Long-Term Holders Accumulate 17 Million Coins” – CoinCentral
- CoinCentral highlights ETH trading around $2,968 after breaking below $3,000.
- On‑chain data shows long‑term “accumulation addresses” added about 17 million ETH in 2025, even as price fell more than 23% month‑over‑month, leaving ETH still above their realized cost basis. ^[17]
“Ethereum Faces Pressure Near $3,000 as BitMine Continues Buying Spree” – FXStreet
- FXStreet reports $166.8M in ETH futures liquidations in the past 24 hours, mostly long positions, and notes US spot Ethereum ETFs saw roughly $728.5M in net outflows last week.
- Analysts warn that failure to reclaim $3,100 could open the door to $2,850, with deeper support around $2,380, while resistance looms near $3,470. ^[18]
“Bitcoin and Ethereum Liquidations Hit $70M as ETH Breaks Below $3,000” – AMBCrypto
- AMBCrypto says ETH’s brief break under $3,000 triggered about $50.7M in ETH liquidations, contributing to around $70M in combined BTC+ETH liquidations as leveraged traders were flushed out. ^[19]
“Crypto Crash Today: BTC Falls Below $90k… ETH Drops Under $3,000” – Coinpedia
- Coinpedia notes that Ethereum traded between about $2,948 and $3,218 over 24 hours, stressing that the slip below $3,000 is significant because this zone has historically been defended by institutional demand, staking flows and network‑growth expectations.
- The piece flags potential downside towards $2,750–$2,600 if weakness persists. ^[20]
“Santiment: Crypto Bloodbath Is Creating Major Buy Zones for BTC, ETH” – CryptoPotato
- Using its MVRV metric, Santiment classifies Ethereum as being in an “Extreme Buy Zone”, with recent buyers showing average ‑15%‑plus returns, a level that has previously coincided with long‑term opportunities in major coins. ^[21]
BitMine and Supercycle narratives – ZyCrypto & CoinCentral (Nov 17–18)
- BitMine Immersion has reportedly added another $173M in Ether, while a separate analysis shows the firm now holds roughly 3.56 million ETH – close to 3% of circulating supply – at an average cost around $4,017, leaving it with a multi‑billion‑dollar unrealized loss. ^[22]
- Despite this, strategist Tom Lee remains aggressively bullish, talking about a potential “100x Bitcoin‑esque ETH supercycle” over the long term. ^[23]
“China’s Alibaba AI Predicts the Price of XRP, Bitcoin, Ethereum by the End of 2025” – Cryptonews (Nov 17)
- Alibaba’s Qwen3‑MAX AI model is cited as forecasting that ETH could accelerate toward $15,000 by year‑end, implying a potential 300%+ rally from current levels, while cautioning that crypto remains highly risky. ^[24]

These headlines collectively frame today’s move as a high‑volatility flush driven by macro jitters and heavy derivatives positioning, but with significant dip‑buying from long‑term players and corporate treasuries.

Why is Ethereum down today? Four main drivers

1. Bitcoin‑led risk-off and macro uncertainty

Most analyses point first to Bitcoin’s slide below $90,000–$93,000 as the trigger for today’s sell‑off. As BTC broke successive support zones, altcoins sold off in tandem, with Ethereum tracking the move lower. ^[25]

Behind that BTC move, several macro and structural factors keep coming up:

Lingering uncertainty about U.S. interest‑rate cuts, after stronger‑than‑expected economic data. ^[26]
Fallout from a recent U.S. government shutdown, which temporarily drained liquidity from risk markets. ^[27]
A general de‑risking in equities and crypto‑linked stocks, especially miners and ETF‑heavy firms. ^[28]

In this environment, Ethereum – historically more volatile than Bitcoin – tends to amplify BTC’s moves to the downside, which is exactly what we’re seeing.

2. Futures liquidations and ETF outflows

Leverage has been a major accelerant:

On derivatives venues, ETH futures saw about $166.8M in liquidations in 24 hours, with longs making up most of the damage, according to FXStreet’s read of Coinglass data. ^[29]
AMBCrypto reports that the break below $3,000 coincided with roughly $50.7M in ETH liquidations, part of around $70M in combined BTC+ETH liquidations in a single session. ^[30]
U.S. spot Ethereum ETFs recorded about $728.5M in net outflows last week, one of their largest weekly withdrawals to date. ^[31]

Taken together, this suggests that forced selling and profit‑taking, rather than a collapse in fundamentals, are playing an outsized role in today’s price action.

3. Shifting risk perception around ETH

A CoinDesk report over the weekend highlighted that some professional investors now view ETH as “more risky” than BTC, citing:

Weeks of net ETF redemptions, estimated at around 7% of their cost‑basis capital over five weeks.
A steeper week‑on‑week drawdown for Ether compared with Bitcoin. ^[32]

Meanwhile, a widely shared piece from Coingape points to large ETH sales by Arthur Hayes, with on‑chain data showing around 1,480 ETH (about $4.7M) sold in recent days. The article argues this has amplified market uncertainty and reinforced the bearish narrative. ^[33]

Combined with rising U.S. yields and macro nerves, this has pushed traders to treat ETH as a higher‑beta bet on the crypto cycle – great in rallies, but vulnerable in corrections.

4. Overextended valuations meeting a “reset”

Even after today’s drop, Ethereum is still up strongly versus early 2025 levels, having set a new all‑time high near $4,950 in August. ^[34]

Research pieces from OpenPR and other outlets argue that:

Ethereum’s 2024 Dencun upgrade, which brought proto‑danksharding (EIP‑4844), significantly lowered Layer‑2 fees and boosted on‑chain activity. ^[35]
This, plus the upcoming Fusaka upgrade on December 3, which will raise the block gas limit to 60 million units and further improve scalability, has led markets to price in a strong long‑term growth story. ^[36]

Today’s pullback is being framed by some analysts as a “reset” after an overextended run, rather than evidence that the long‑term thesis is broken.

Who is buying the dip? Long‑term holders and big treasuries

One of the most important under‑the‑surface stories today is who is actually stepping in on the other side of the sell‑off.

Long-term “accumulation addresses”

CoinCentral’s analysis of CryptoQuant data shows: ^[37]

Around 17 million ETH has moved into so‑called accumulation addresses during 2025.
These wallets – typically long‑term investors who rarely sell – have grown their holdings from about 10M to over 27M ETH this year.
ETH’s current price is still above the realized cost basis of these addresses, meaning long‑term holders remain in profit despite the pullback.

Historically, the article notes, ETH has rarely traded below that realized cost basis for long, and previous dips into this region have lined up with longer‑term accumulation zones.

BitMine’s massive ETH treasury

On the institutional side, Tom Lee’s BitMine stands out: ^[38]

The firm recently purchased 54,156 ETH, adding to an already huge treasury.
BitMine now holds roughly 3.56 million ETH, close to 3% of the total circulating supply.
Its average cost basis is estimated around $4,017 per ETH, leaving it with multi‑billion‑dollar paper losses at current prices – yet BitMine continues to accumulate.

Lee has doubled down on a long‑term super‑bullish view, talking about a potential “100x” upside over a multi‑year timeframe, although those projections are highly speculative and far from guaranteed. ^[39]

“Extreme pain” as potential opportunity?

CryptoPotato’s summary of Santiment’s MVRV data shows Ethereum traders sitting on steep average losses, with 30‑day returns around ‑15%, placing ETH in what the firm calls an “Extreme Buy Zone.” ^[40]

Put simply: short‑term leveraged players are hurting, but slow‑moving capital appears to be averaging in, betting that this drawdown is part of a normal cycle rather than the end of it.

Technical picture: key levels to watch for ETH

Technical analysts are laser‑focused on a handful of price zones after today’s move.

Immediate support and resistance

From Bitget, Coinpedia, FXStreet and other chart‑focused outlets: ^[41]

$3,100:
- Recently lost as support, now seen as the first level bulls need to reclaim to neutralise the immediate downtrend.
$3,000:
- A major psychological level and former support band. Multiple reports highlight its break as a structural negative, at least in the short term.
$2,900–$2,850:
- The current near‑term downside target zone. FXStreet flags $2,850 as an important support if sell pressure persists.
$2,600–$2,380:
- Deeper supports referenced in both Bitget and FXStreet coverage. A move into this region would represent a much larger correction but is being discussed as a “max pain” scenario if Bitcoin heads toward the mid‑$80k area.
$3,300–$3,470:
- On the upside, analysts highlight $3,300 and especially $3,470 as the next major resistance levels; a daily close above these would be needed to argue that the bulls have regained control.

Momentum indicators such as RSI and Stochastic oscillators are now sitting in or near oversold territory on many timeframes – historically a region where at least short‑term bounces can occur, though in strong downtrends these indicators can stay oversold longer than traders expect. ^[42]

Fundamentals: Dencun, Fusaka and Ethereum’s evolving role

Price is only one piece of the puzzle. Fundamental developments in the Ethereum ecosystem remain significant:

The Dencun upgrade (2024) introduced proto‑danksharding (EIP‑4844), dramatically improving data availability for rollups and contributing to lower transaction costs on Layer‑2 networks. This has directly benefited DeFi, NFT and gaming projects building on Ethereum. ^[43]
The upcoming Fusaka upgrade, scheduled for December 3, 2025, aims to raise the block gas limit to 60 million units and further reduce gas costs, boosting the network’s capacity for high‑throughput applications. ^[44]
AInvest’s market note points out that even as ETH dips to four‑month lows below $3,000, Ethereum remains a leader in real‑world asset (RWA) tokenization, with macro factors like U.S. debt dynamics and interest‑rate policy likely to shape its medium‑term path. ^[45]

In other words, today’s price action is heavily macro‑ and positioning‑driven, while the underlying network usage and upgrade roadmap continue to evolve in a generally positive direction.

Short-term Ethereum outlook: what different camps are saying

Opinions on what happens next for ETH are unusually split:

Short‑term cautious camp
- FXStreet and Coinpedia both warn that failure to reclaim $3,100–$3,200 could leave ETH vulnerable to further declines toward $2,850–$2,600. ^[46]
- Coingape emphasises heavy ETF outflows and high‑profile sales like Arthur Hayes’ as signs that sentiment remains shaky. ^[47]
“Washed-out but not broken” camp
- AMBCrypto and multiple Bitcoin‑focused reports frame the current move as a deleveraging event after an overheated run, suggesting a local bottom could be forming as leverage is cleared out. ^[48]
- Santiment’s MVRV data and long‑term accumulation address growth point to smart‑money dip buying, even though there is no guarantee of an immediate rebound. ^[49]
Aggressively bullish camp
- Forecast sites like Changelly project a modest near‑term bounce, with models pointing to ETH around $3,280 by November 20, and flag a Fear & Greed score of 14 (Extreme Fear) as a contrarian signal. ^[50]
- Alibaba’s Qwen3‑MAX AI goes much further, sketching the possibility of Ethereum approaching $15,000 by Christmas if macro conditions and policy turn highly favourable – a scenario that would require a steep recovery from today’s levels and is far from consensus. ^[51]

It’s important to stress that all of these are scenarios, not certainties. Crypto remains one of the most volatile and speculative asset classes, and price paths can change quickly as new data comes in.

What today’s move means for traders and investors

For anyone watching or trading ETH today, a few practical themes stand out:

Volatility and downside risk are elevated. Breaks of big psychological levels like $3,000 often bring sharp, stop‑loss‑driven moves in both directions.
Leverage has been punished. The scale of futures liquidations shows why high leverage can be extremely dangerous in crypto – especially around key support levels. ^[52]
Long‑term vs short‑term views are diverging. Short‑term traders see a fragile structure with risk toward the mid‑$2,000s, while long‑term holders and large treasuries are using the drawdown to build positions. ^[53]
Fundamentals still matter. Upgrades like Fusaka and Ethereum’s leading role in DeFi, NFTs, Layer‑2s and RWAs give the asset a robust fundamental narrative, even if the price can lag or overshoot those fundamentals in the short run. ^[54]

A quick reminder

Nothing in this article is financial advice. Crypto assets are high‑risk and highly volatile, and prices can move dramatically in short periods of time. Always do your own research, consider your risk tolerance and time horizon, and, if needed, consult a qualified financial professional before making investment decisions.

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