Ethereum slides toward $2,000 as hot CPI data fuels rate‑hike bets and ETF outflows
Ethereum fell to around $2,040 on Tuesday after October CPI rose 0.4% month‑on‑month, above the 0.3% forecast, pushing Fed rate‑hike expectations to 90.5% for a 25‑bp move. Spot ETH ETFs recorded net outflows of roughly $184.5‑$184.6 million, their largest daily outflow in over a month. The price drop triggered about $255 million of liquidations in ETH futures, with long positions bearing the bulk of the loss. By Wednesday, ETF withdrawals slowed dramatically to about $1.3 million, suggesting a possible easing of institutional selling pressure.
Why it matters
The sharp price decline and large liquidations increase short‑term downside risk for traders holding ETH. The recent slowdown in ETF outflows may signal a tentative floor, but investors should monitor further CPI releases and Fed policy cues for additional volatility.
Key facts
- 1Ethereum price fell to $2,040 on Tuesday. fxstreet.com
- 2October CPI increased 0.4% month‑on‑month, above the 0.3% forecast. fxstreet.com
- 3US spot Ethereum ETFs recorded $184.5 million in net outflows on Monday, the largest daily outflow in over a month. fxstreet.com
- 4Ethereum futures liquidations totalled $254.8 million, with $193.3 million from long positions, over the 24‑hour period. fxstreet.com
- 5On November 10, US spot Ethereum ETFs recorded approximately $1.3 million in net outflows, a reduction of more than 99% from the previous session. coinpaper.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.