Why is Ethereum price down today, November 6?

Ethereum price has fallen more than 8% over the past 24 hours, dropping toward $2,200 as losses in U.S. technology stocks, cryptocurrency liquidations and renewed withdrawals from spot ETH exchange-traded funds weigh on the market. Ethereum fell more than 8% as technology stock losses spread across the cryptocurrency market. CoinGlass data showed $210 million in Ethereum liquidations, including $179 million from leveraged long positions. U.S. spot Ethereum ETFs recorded nearly $100 million in net withdrawals on November 5 alone. Ethereum exchange reserves fell toward 14.6 million ETH, while derivatives open interest continued declining further. Ethereum faces immediate support near $2,200, with RSI below 40 indicating continued weak buying momentum. According to crypto.news market data, Ethereum traded around $2,220 on November 6, down approximately 8.3% in 24 hours.

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