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Ethereum Slides 6% to $2,093
Ethereum's price dropped by 6.42% to $2,093.15 on Monday, highlighting market vulnerability. The decline was attributed to forced selling from leveraged traders, outflows from US spot Ethereum ETFs, and a technical breakdown on the weekly chart. The market was losing institutional support, with US spot Ethereum ETFs seeing net outflows of $365.2 million during the week of November 2-6, including $93 million on November 6 alone. The selloff also coincided with regulatory unease following the US midterm election results and a significant incident linked to Binance.