Ethereum falls below $2,700 as the cryptocurrency market’s decline continues.
Summary
- Ethereum, Bitcoin and other tokens fell to multi-month lows, leading to liquidations of leveraged positions.
- Spot Bitcoin and Ethereum ETFs saw consecutive net outflows, while some other networks attracted inflows.
- Bitmine bought more Ethereum during the decline, but government bond companies are now facing significant unrealized losses.
Ethereum fell below $2,700 on Friday as the cryptocurrency market suffered its biggest downturn since October, with digital assets falling to levels last seen in July, according to market data.
Bitcoin also fell to a multi-month low on November 21, 2025, as selling pressure increased in the cryptocurrency sector. The market decline led to widespread liquidations of leveraged positions in Ethereum and other digital tokens. according to to market analysts.
Ethereum continues to fall while ETF outflows increase
Cryptocurrency investment products recorded consecutive net outflows for both spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds during the period, while spot ETFs for other networks saw inflows, industry data shows.
Market analysts stated that the loss of key support levels increases the likelihood of further declines if buying activity does not resume. The analysts noted that failure to recover from previous support levels could lead to additional price declines.
Nasdaq-listed Bitmine, a company that holds Ethereum in its treasury, announced on November 20 that it has purchased additional Ethereum, increasing its total holdings despite the price drop. The company did not disclose the specific amount of the purchase.
Crypto research firm 10x Research reported that treasury companies that own digital assets face significant unrealized losses following the market correction. The company stated that such losses could pose challenges for these companies in attracting new retail investors, while existing shareholders suffer significant paper losses.
