Ether fell below $2,000 for the first time since March 10, extending a multi-week pullback as global risk assets retreated on Friday, March 27. The decline coincided with renewed geopolitical tensions and rising oil prices, which have lifted inflation expectations and stoked concerns about a more restrictive U.S. Federal Reserve policy path.
Market Selloff Pushes ETH Below $2,000
ETH slid to a two-week low just under the psychological $2,000 level on Friday, while Bitcoin dropped toward $65,500. The move followed a broader risk-off shift across markets as investors assessed potential energy supply disruptions in the Middle East and their impact on inflation and interest rates.
At press time, ETH traded around $1,980, down roughly 3% over the past 24 hours and more than 7% week over week, according to CoinGecko.
Derivatives Shakeout Intensifies
The break below $2,000 triggered a wave of liquidations in leveraged positions. Derivatives market data showed more than $110 million in ETH long positions were wiped out during the selloff, underscoring fragile sentiment and thin support during the downturn.
Traders are watching the weekly close for confirmation of momentum. A sustained close below $2,000 would keep bears in control and opens the door to a retest of the $1,750–$1,850 support area. A recovery back above $2,000 on strong volume would be an initial sign of stabilization.
Spot ETH ETFs Log Weekly Outflows
Flows into U.S.-listed spot Ethereum exchange-traded funds have softened alongside price. The products recorded approximately $158 million in net outflows over the past week, marking a seven-day streak of redemptions and signaling waning near-term demand from traditional investors.
Sustained net inflows into spot funds have historically supported price recoveries in digital assets, while persistent outflows tend to reinforce downside pressure.
Key Levels to Watch
- Support: $1,850 and $1,750
- Resistance: $2,000 and $2,120
- Macro drivers: Oil prices, inflation expectations, and Federal Reserve policy outlook