Ethereum Drops Below $2,700 as $400 Million in Positions Liquidated

Ethereum fell more than 10% on November 21, 2025, declining from $3,039 to approximately $2,660 and breaching the $2,700 level. The decline triggered roughly $400 million in leveraged ETH position liquidations within 24 hours, with long positions accounting for about $374 million of the total. Nasdaq-listed Bitmine purchased an additional 17,242 ETH valued at $44.46 million during the downturn, bringing its total holdings to around 3.62 million ETH.