Ethereum Falls Toward $1,800 as ETF Outflows and Binance Reserves Drop

A mix of ETF withdrawals, lower exchange balances and higher Fed-hike odds raises the risk of deeper ETH losses.

Overview

On Nov. 15, Ethereum traded around $1,800 to $1,835 after a week of heavy selling that pushed futures and spot prices below key short-term levels.
US spot Ethereum ETFs recorded roughly $398.9 million in net outflows from Nov. 9–13, a sustained institutional drain that analysts say has reduced buying pressure.
CryptoQuant data show Binance’s estimated ETH reserves fell to about 2.9 million, the lowest since 2021, which cuts visible exchange liquidity and could make price moves larger.
On-chain activity has diverged: a Lookonchain-tracked wallet withdrew 34,601 ETH from Binance on Nov. 9 while another wallet (0x4cee) bought 10,380 ETH, showing mixed behavior among large holders.
Technically, analysts point to demand and support zones between roughly $1,700 and $1,950 with $1,827 and $1,700 as key levels to watch, and the market is also observing delayed Glamsterdam testing as a further source of uncertainty.