US inflation surprise amplifies ETF outflows and liquidation risk context for Ethereum

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Ethereum down on US inflation risk; ETF outflows intensify

Highlights

Ethereum dropped below $2,100 after US inflation data exceeded forecasts, triggering renewed concerns around further Federal Reserve rate increases.
ETF outflows and liquidations intensified price declines as investors exited risk assets and unwound leveraged positions in response to inflation worries.
ETH trades below major moving averages with strong selling momentum, and sustained pressure is likely unless price reclaims $2,108 resistance.

US inflation surprise drives Ethereum ETF outflows and liquidations

According to Crypto, on November 11, 2026, Ethereum's price dropped below $2,100 after US inflation data came in higher than forecast, renewing concerns about further Federal Reserve interest rate increases. The inflation surprise prompted significant outflows from Ethereum-based ETFs as well as a wave of leveraged position liquidations, contributing to broad selling pressure.

Rising inflation expectations increased the likelihood of higher policy rates, which can make riskier assets like ETH less appealing compared to yield-bearing alternatives. This heightened the outflow from institutional products and forced the unwinding of leveraged positions, intensifying both price declines and volatility.

ETF outflows and liquidations amplified the initial reaction, reinforcing sensitivity to US macroeconomic data. The risk context remains closely tied to the persistence of inflationary pressures and central bank policy outlooks.

Bearish momentum deepens as ETH trades below key 4H averages

On the 4-hour chart, ETH is positioned below the 50- and 200-period SMAs, highlighting a clear bearish bias as the price consolidates beneath key moving averages.

The MACD and ADX both signal strong selling momentum, indicating that bearish control is pronounced. The Kijun line at $2,108 remains a notable resistance zone for any short-term recovery attempts.

Persistent inflation or Fed tightening could extend selling risks

Further increases in US inflation or hawkish Federal Reserve policy would likely exacerbate price and capital outflow risks for ETH. If ETH remains below the Kijun resistance around $2,108, selling pressure could persist. A move above this level would be required to signal any short-term stabilization. Ongoing focus will remain on US macro releases and Fed communications.

Viktoras Karapetjanc, Traders Union expert, sees recent US inflation data as the main trigger for ETH’s downside move. He notes ongoing ETF outflows and liquidations as clear signs of institutional risk aversion. Macro conditions remain challenging for Ethereum while inflation concerns linger and the Federal Reserve maintains a hawkish stance. Karapetjanc believes price action will hinge on US economic releases and policy signals in the short term. "If ETH can reclaim the Kijun resistance at $2,108, we might see renewed buying interest — but ongoing macro headwinds mean robust risk management is vital."

Earlier, analysts noted that elevated U.S. inflation and capital outflows from cryptocurrency funds had been weighing on Ethereum's market performance. The latest data adds urgency to this trend, with renewed inflation surprises and Federal Reserve policy expectations expected to shape ETH's next moves.

Source of Data: ETH Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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