Ethereum Price Below $2,300: Is $2,000 Next or Is This the Bottom?

$Ethereum is trading around $2,250 today, down about 2% in 24 hours and roughly 12% below where it stood before the Binance hack. It has now lost the $2,300 level that held through most of October. Live prices are on our crypto prices page.

ETH/USD chart

The question every $ETH holder is typing into Google right now: does it stop here, or is $2,000 the next stop?

Why Is Ethereum Price Falling?

Three things are hitting ETH harder than Bitcoin this week:

• DeFi outflows: roughly 1.39 million ETH, worth about $3.2 billion, has been pulled from DeFi protocols in a week. Part of that is the KelpDAO and LayerZero exploit fallout, part is simple de-risking.
• The Ethereum reorg: a chain reorganisation over the weekend forced THORChain to pause several networks. Technically minor, but it a...