Will Ethereum dip to $1,600 in November?

As of November 6, 2026, Polymarket prices “Will Ethereum dip to $1,600 in November?” at 7% YES with $85K traded. No tracked wallet holds a position on this market, so there is no verdict.

Ethereum dipping to $1,600 in November is unlikely given current odds of 9% YES versus 91% NO. The market strongly favors no such decline.

What’s Happening

Ethereum traded near $2,450 at the start of November, well below its early-October levels, as spot ether ETFs shed 580,145 ETH during the month, according to SoSoValue data cited by Cryptoticker. All US spot ether ETFs collectively hold $13.18 billion, equal to 4.8% of ether's total market value, and October outflows returned roughly an eighth of the $12.15 billion in net inflows gathered since the funds launched in summer 2024. The price sits below both its 50-day and 200-day moving averages, a configuration that keeps the question of whether Ethereum will dip to $1,600 in November on traders' radar. [Cryptoticker, Nov 03]

Options positioning on Deribit shows near-term caution: for the November 13 expiry, 77,441 puts face 24,464 calls, a ratio of more than three puts for every call, per Openpr. The later November 27 expiry flips the bias, with 153,164 calls against 71,907 puts in a book worth about $543 million, more than twice the earlier expiry's value. The split indicates traders are hedging a short-term pullback while retaining upside exposure into late November, a structure that leaves the tail scenario of an ethereum dip to $1,600 in November priced but not broadly positioned for. [Openpr, Nov 05]

Range-based forecasts place ETH between $2,200 and $2,800 through much of November if fund losses moderate without a return of buying, according to a Crypto analysis dated October 21. Polymarket's November price market shows the "↑ 2,300" outcome as the frontrunner at 100%, with "↓ 2,200" next at 81%, reflecting real-time trader pricing rather than a fixed band. A surprise policy shift, a major market incident, or new network information could invalidate both the range and the $1,600 downside case, with resolution of the November contract set for December 1, 2026. [Polymarket, Nov 01]

Traded on Polymarket — $85K Volume