Ethereum drops nearly 15% as sell pressure overwhelms aggressive buy activity

Ethereum fell to around $2,117 as a trader opened a roughly $100.3 million short position near $2,094. U.S. spot Ethereum ETFs have seen 10 straight days of outflows totaling about $500 million, while traders are watching $2,150 as resistance and $2,100 and $2,000 as downside levels.
AI Analysis
The summary cites a large short position, continued ETF outflows, and price weakness below a key resistance level, all of which are directly bearish for ETH in the near term.