Ethereum price today: $2,230

• Ethereum drops 7% toward $2,230, wiping out all its post-midterm election gains.
• The top altcoin declined alongside the broader crypto market and AI-related stocks amid regulatory concerns after Democrats gained control of Congress.
• ETH could test the $2,204 support level if it fails to reclaim $2,251.

Ethereum (ETH) falls 7% to $2,230 on Thursday as AI stock sell-offs spilled into the crypto market.

The top altcoin’s decline wiped out all of Wednesday’s post-US midterm gains, triggering $181.8 million in ETH liquidations over the past 24 hours. Long liquidations dominated, totaling $149.7 million, according to Coinglass data.

In contrast, net deposits in exchanges were barely above 7,000 ETH, indicating either…