No, the TOTAL earnings you need are listed. There is no metric level that requires you to earn a specific amount per month. That would mean that all sellers who want to maintain level 2 sell $2k worth of services on 60 days.
According to the Fiverr TOS, you are correct Don’t worry, doers—in the updated system, an existing seller cannot be demoted just because the earning isn’t as required in the updated terms. As long as you maintain your response rate, deliver complete orders on time, and continue to receive good ratings, you will keep your current level. You’ll be only demoted if you are unable to meet these standards—and in order to be promoted back up, you’ll need to meet the earnings standards again.
However, there have been numerous complaints from those saying they were demoted due to not having hit the mark for total funds. (Most sellers at LVL 2 - $2k mark)
UPDATE: The main reason for my demotion was the lack of responding to emails fast enough. I’m glad that when I use the “out of office” feature Fiverr has the checkbox unchecked for “Allow new buyer to contact me. I realize this can affect my response rate and avg. response time” this way I know that I won’t get messages while I’m away so I can’t get penalized …