Overview
- Ethereum fell below $2,000 on Monday, trading around $1,990 and briefly touching $1,967 as price broke the lower boundary of a months‑long descending channel.
- The chart break exposed near‑term targets around $1,900 and $1,825 with the channel floor near $1,750–$1,800 as the next major support levels to watch.
- Derivatives stress produced heavy forced selling, with CoinGlass reporting roughly $237 million in recent liquidations concentrated in long positions.
- Spot Ethereum ETFs registered sizable outflows, about $241 million over the past week and roughly $540 million for the month, removing a key institutional buy side and weakening U.S. demand as shown by a deep negative Coinbase premium.
- On‑chain metrics such as TVL and transactions remain relatively steady and some institutions continue to buy (for example Bit Digital's purchase of 8,568 ETH), leaving a mixed picture where short‑term price pressure could clash with selective accumulation and usage-driven support.