Ethereum Closes at $2,053.21 After Testing $2,000, With $739.34 Million in Liquidations
Key Facts
Ethereum closed the November 10 session at $2,053.21 after testing the $2,000 level, as U.S. inflation data put pressure on digital assets. The U.S. Consumer Price Index rose 0.4% month over month in October on a seasonally adjusted basis, following a 0.6% increase in September, according to the Bureau of Labor Statistics. Traders Union reported that total cryptocurrency liquidations reached $739.34 million, including $584.96 million in long positions. Ethereum’s close above $2,000 places the test in a different context from a break below the level or a close beneath it. The inflation data came as attention turns to the Federal Reserve meeting scheduled for December.
The Consumer Price Index for All Urban Consumers stood at 337.511 in October, according to the Bureau of Labor Statistics, which said the unadjusted monthly increase was 0.2%. The seasonally adjusted reading rose 0.4%, compared with 0.6% in September, the clearest comparison of the index’s movement between the two months. The core index, which excludes food and energy, rose 0.3% in October, the same monthly increase recorded in both September and August. The figures show a divergence between a slowdown in the headline index’s adjusted increase and the continued monthly rise in the core index at its recent pace. The bureau did not publish year-over-year changes for the affected October series because it did not collect October 2025 survey data during the government funding lapse.
Shelter remained one of the main contributors to the monthly increase in the headline index: its index rose 0.3% in October and accounted for more than 30% of the monthly increase across all items. The food index rose 0.5%, with food at home up 0.4% and food away from home up 0.5%. In the energy sector, the increase slowed to 0.7% in October from 5.2% in September. The gasoline index rose 1.0% during the month, following a larger increase of 9.1% in the previous month. The components show that energy and gasoline growth eased from September’s pace, while shelter and food continued to post monthly increases.
On market positioning, Traders Union said liquidations of long positions totaled $584.96 million out of overall liquidations of $739.34 million. Long positions accounted for a larger share of the total reported by the platform than other positions, consistent with bullish positions coming under pressure during the move. These figures, however, cover the cryptocurrency market as a whole and do not specify the value of Ethereum liquidations alone. Spot Ethereum funds recorded net outflows of $1.32 million on November 10, compared with $184.51 million the previous day. The sharp decline in net outflows between the two days is evident, but on its own it is not enough to establish a reversal in the flow trend.
In other markets, Reuters reported that U.S. Treasury yields rose and Wall Street stocks fell after the inflation reading, which it described as higher than expected. The agency added that the reading strengthened the likelihood of the Federal Reserve raising interest rates by half a percentage point the following month. Ethereum’s moves in the November 10 session therefore formed part of a broader market response to U.S. data, with monetary policy expectations potentially weighing on riskier assets. The next Federal Open Market Committee meeting is scheduled for December 8 and 9, 2026, with the Federal Reserve chair set to hold a news conference on December 9. November Consumer Price Index data are scheduled for release on December 10 at 8:30 a.m. Eastern Time.