Key Notes
- Ethereum is ready to shut November with a steep 21% month-to-month loss after $1.28B in US ETF outflows and early-month whale promoting.
- Derivatives markets flipped bullish late within the month, with whales deploying over $700M in lengthy positions on the $2,960 assist cluster.
- December outlook hinges on the $3,100 resistance, the place $1.3B in shorts are positioned; a squeeze at that degree might propel ETH towards $3,500.
Ethereum value hurtled towards the $3,030 degree on Sunday, Nov. 28, setting the asset on track to shut the month with 21.4% losses.
Heavy whale sell-offs within the first half of the month inflicted probably the most harm, as broader crypto markets reacted to the US government shutdown and political pressure facing the crypto-friendly Trump administration.
Ethereum ETF Flows Nov 2025 | Supply: FarsideInvestors
US-listed Ethereum ETFs recorded $1.284 billion in outflows throughout an eight-day promoting wave from Nov. 11 to Nov. 20. Though ETF issuers returned to internet inflows within the closing week, the late inflows had been inadequate to offset earlier drawdowns. Farside Investors data reveals Ethereum ETFs logged $368 million in inflows final week, marking a clear sweep of day by day positives however failing to reverse the month-to-month deficit, which amounted to $1.4 billion in withdrawals for the month.
Tom Lee-led Bitmine, the most important Ethereum treasury holder, additionally aligned with the ETFs’ late-month accumulation development. Bitmine added 14,618 ETH, price about $185 million, in the course of the closing week of November, reinforcing the long-term dedication from US company traders as latest geopolitical tensions fade.
Derivatives Positioning Turns Bullish as Whales Deploy $700M Longs at $2,960 Help
Regardless of the renewed demand from whales failing to overturn Ethereum’s 21% month-to-month loss, derivatives market traits point out that enormous traders have performed sufficient to shift sentiment towards a constructive outlook for December.
Ethereum Liquidation Map, Nov 30, 2025 | Supply: Coinglass
Coinglass liquidation-map information reveals bulls regained clear management over the previous week, with 3.97 million lively lengthy ETH contracts outweighing the $1.9 billion in whole shorts. Extra critically, the information reveals the $2,960 zone attracted the most important single derivatives place cluster in seven days, with greater than $700 million in lengthy publicity deployed at that degree.
This cluster explains why Ethereum held the $3,000 assist space regardless of intraday strain triggered by Bitcoin’s rejection under $90,400 on Nov. 29. Whales seem dedicated to defending the zone, creating an early psychological anchor for Ethereum’s value outlook in December.
Ethereum Value Outlook for December 2025
Ethereum enters December with derivatives sentiment leaning decisively bullish. Nonetheless, the liquidation map reveals greater than $1.3 billion of the lively $1.96 billion quick positions sit close to the $3,100 degree. That focus introduces a tactical ceiling. ETH might battle to interrupt the extent cleanly if bears provoke protecting protection.
Conversely, a breakout from that zone might set off a brief squeeze that would speed up ETH towards $3,500 within the weeks forward.
Ethereum (ETH) Technical Value Evaluation | Nov 30 2025 | Supply: TradingView
Technical indicators assist this optimistic outlook on the ETH value. As seen under, Ethereum continues to commerce above the 20-day EMA, signalling recovering near-term demand. Nonetheless, the 200-day transferring common nonetheless traits downward close to $3,130, reinforcing the overhead resistance noticed within the derivatives market.
Ethereum RSI at 51 additionally suggests impartial momentum with room for growth in both path, whereas a optimistic quantity delta studying suggests consumers have the higher hand within the close to time period.
If bulls defend the $2,960 cluster with the identical consistency seen in late November, Ethereum has a reputable path to determine $3,500 as Ethereum’s main upside goal for December 2025. In the meantime, failure to carry that assist line could set off a reversal to $2,880 and $2,820.
Disclaimer: Coinspeaker is dedicated to offering unbiased and clear reporting. This text goals to ship correct and well timed info however shouldn’t be taken as monetary or funding recommendation. Since market situations can change quickly, we encourage you to confirm info by yourself and seek the advice of with an expert earlier than making any choices based mostly on this content material.
Ibrahim Ajibade is a seasoned analysis analyst with a background in supporting numerous Web3 startups and monetary organizations. He earned his undergraduate diploma in Economics and is at present learning for a Grasp’s in Blockchain and Distributed Ledger Applied sciences on the College of Malta.
