Ethereum fell sharply below €2,000 on November 8, 2026, dropping more than 4.5% within an hour without a clear trigger. The decline came amid sustained market pressure, including six weeks of outflows from U.S. spot Ether ETFs and low liquidity. Earlier, spot Ethereum ETFs recorded about $365 million in weekly net outflows, including $193.2 million over the latest two days, after ETH fell about 10% on November 5. Whale activity provided a counterpoint: one wallet bought 8,773.5 ETH for about $19 million at $2,245 each, while another withdrew 9,777 ETH, worth roughly $22.5 million, from Binance over the past week. The first wallet had previously bought 10,376 ETH in June at an average of $1,626 and held 23,095 ETH valued at approximately $51.69 million. Net ETH inflows of $18.32 million to major exchanges indicated potential short-term selling pressure. Ethereum had recently lost support at $2,385, with $2,200-$2,220 identified as near-term support and $1,963 as a downside risk if selling intensified; a move above $2,300 could support a recovery toward $2,400-$2,450.