Ethereum Slips Under $2,150 as Onchain Data Shows $100M Hyperliquid Short

Ethereum sank to about $2,110, underperforming Bitcoin as traders tracked a surge in onchain short exposure and persistent selling from U.S. spot Ethereum ETFs, according to CoinDesk. Hyperliquid is currently showing an ETH short position of roughly $100 million. Onchain monitoring indicates a whale opened an estimated $100.3 million short on the venue at an average entry near $2,094. With ETH rebounding to around $2,115, the position is currently in the red, and the liquidation level is close to $2,149. The $2,150 area is drawing heightened attention, combining a short-term technical resistance level with a risk zone for highly leveraged positions. Further upside could intensify pressure on short sellers, while repeated rejection near that level may keep near-term selling supply elevated. ETF flows continue to weigh on demand. CoinDesk said U.S. spot Ethereum ETFs have posted net outflows for 10 consecutive sessions, totaling about $500 million, removing a key source of marginal institutional buying. CoinGlass data also shows heavy concentrations of leveraged positioning between $2,150 and $2,170, reinforcing the band as a short-term resistance zone; failure to clear it decisively could invite renewed selling. Market focus is also on $2,100 as a near-term pivot. During the pullback, the number of large whale wallets holding ETH fell from about 1,100 to roughly 1,030, suggesting softer conviction among some large holders. Traders are treating $2,150 as the key level: a reclaim could open a move toward $2,300, while a break below $2,100 would shift attention to the psychological $2,000 support.