Ethereum slipped under $2,100 on Tuesday, November 10, and kept going. It was trading around $2,015 at 11:41am ET, down about 5% in 24 hours. Money is leaving the spot ETH ETFs, the October inflation report came in hotter than expected, and the biggest corporate ETH buyer kept buying anyway.
Published November 10, 2026, 11:45am ET. Prices move fast; numbers are approximate.
The numbers
| ETH price | About $2,015 at 11:41am ET (CoinGecko $2,017, Coinbase $2,013) |
| 24 hours | About -5.2% |
| 7 days | About -5.8% (CoinCentral, before today's drop); Analytics Insight had -7.35% |
| Spot ETH ETFs, Nov 9 | -$184.51 million net (SoSoValue); Farside had about -$184.6 million |
| Total ETF assets | About $12.07 billion |
| BitMine | Bought 9,587 ETH last week; now holds 6,070,092 ETH |
| October CPI | +0.4% for the month (0.3% expected); core +0.3% (0.2% expected) |
Early Tuesday most sites had ETH around $2,100 to $2,130. The slide below $2,100 came after the inflation numbers hit at 8:30am ET. Different sites take prices at different minutes, so small gaps between sources are normal.
ETF money keeps walking out
US spot Ether ETFs lost a net $184.51 million on Monday, November 9, according to SoSoValue. Farside's count was almost the same at about $184.6 million. That came right after roughly $365.2 million left the week before (November 2 to 6).
Monday's breakdown from SoSoValue:
- BlackRock's ETHA: -$119.28 million, the biggest chunk by far
- Grayscale's Ethereum Mini Trust: -$24.96 million
- Fidelity's FETH: -$19.07 million
- Morgan Stanley's Ethereum ETF: +$1.60 million, one of the few with money coming in
All the funds together still hold about $12.07 billion. So it's not a stampede out the door, but it's been a steady leak, and steady leaks add up. Bitcoin ETFs have the same problem right now, which we covered in Bitcoin's two-month low.
BitMine bought the dip again
BitMine, the company that's been piling ETH onto its balance sheet, said on November 9 it bought another 9,587 ETH in the past week. That brings it to 6,070,092 ETH, about 4.97% of the roughly 122.2 million ETH out there. Its stated goal is 5%, so it's very close.
Most of that pile isn't just sitting there. BitMine says 5,227,037 ETH is staked, about 86% of what it holds, earning staking rewards.
So why didn't the price go up? Size. Around 9,600 ETH is about $20 million at today's prices. Monday's ETF outflow alone was more than nine times that. One buyer, even a big one, doesn't cancel out that much selling.
A wallet linked to the Ethereum Foundation also sold 1,000 ETH (about $2.13 million) on November 10, per Lookonchain. Nobody has confirmed who controls that wallet, and it's a small amount, but traders notice these things.
The inflation report didn't help
The October Consumer Price Index came out at 8:30am ET. Prices rose 0.4% in the month against 0.3% expected. Core prices, which leave out food and energy, rose 0.3% against 0.2% expected. There's no yearly rate in this report because some year-ago data is missing.
Hotter inflation usually means interest rates stay higher for longer, and that tends to hurt risky stuff like crypto and tech stocks. After the report, CME FedWatch showed about an 89% chance of a quarter-point rate hike at the December 9 Fed meeting, up from about 70% a week earlier.
The reaction was quick. Around $178 million to $200 million in crypto long bets got liquidated in the hour after the release (Crypto Briefing and Stocktwits had slightly different totals). Bitcoin dropped under $74,000 too.
How far is ETH from its high?
Ethereum's all-time high was about $4,950 in August 2025. At around $2,015 it's roughly 59% below that. Traders have been watching $2,100 as the line to hold for weeks, and $2,000 is the next round number everyone's eyeing. We don't do predictions, so that's where we'll leave it.
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If you hold ETH
- Liquidations hit borrowed bets. Plain ETH in your wallet can drop a lot, but it can't be force-sold on you like a leveraged position.
- Watch out for "recovery" scams. Red days bring out DMs promising to win back your losses. Nobody legit messages you first.
- Staking doesn't stop price drops. Rewards are paid in ETH, so they don't protect the dollar value.
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Want the backstory on how Ethereum got here? The Infinite Machine by Camila Russo is a good read on how it all started.
FAQ
Why is Ethereum down today, November 10, 2026?
Spot ETH ETF outflows ($184.51 million on November 9), a hotter-than-expected October CPI report and a wave of liquidations right after it.
How much ETH does BitMine own?
6,070,092 ETH after buying 9,587 last week, about 4.97% of the supply.
What was October's CPI?
+0.4% for the month (0.3% expected); core +0.3% (0.2% expected).
This is news, not financial advice.
Sources
- crypto.news: Ethereum price falls despite BitMine buying another 9,587 ETH crypto.news
- CoinCentral: Can $2,100 hold as whales buy the dip and CPI data lands? coincentral.com
- Analytics Insight: Ethereum price struggles near $2,100 analyticsinsight.net
- CoinGape: BitMine adds 9,587 ETH, holdings reach 6.07 million coingape.com
- Crypto Briefing: $178M in crypto longs liquidated after hot October CPI cryptobriefing.com
- Stocktwits: Bitcoin falls below $74K after hot US inflation stocktwits.com
- CoinGecko and Coinbase: ETH spot price, 11:41am ET coingecko.com
Written by the WIZY creator
A lifelong gamer and Warhammer painter, and the maker of the WIZY RPG game. I write about games, hardware, Warhammer and crypto in plain English, and I check every fact against its source.
