Ethereum (ETH) faced a severe market correction on November 14, 2025, plummeting 11.34% in 24 hours to break decisively below the $3,100 support level. Current Binance market data shows ETH trading at approximately $3,098, reflecting one of its most significant single-day losses this year.
This sharp decline places Ethereum among the worst-performing major assets during the ongoing market-wide sell-off, underperforming even Bitcoin’s substantial drop. The breach of the psychologically important $3,100 level suggests strong selling pressure and a potential shift in medium-term market structure.
Analysis: Drivers Behind Ethereum’s Sharp Decline
Several technical and fundamental factors are contributing to this aggressive sell-off:
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Market-Wide Carnage: ETH is moving in correlation with Bitcoin’s drop, exacerbated by a general risk-off sentiment across global markets.
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Leverage Unwind: The rapid descent likely triggered massive liquidations in the derivatives market, particularly for over-leveraged long positions.
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Technical Breakdown: The failure to hold the $3,100 level indicates a breakdown of a key support zone, potentially triggering further automated selling.
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DeFi Outflows: Pressure on the decentralized finance ecosystem may be contributing to selling pressure on the native asset.
Broader Market Implications
Ethereum’s pronounced weakness highlights its high-beta nature during market downturns, often falling more sharply than Bitcoin. Traders are now watching for potential support near the $3,000 psychological level. A hold above this mark is critical to prevent a deeper slide toward the next significant support zone.