TechFlow news — Singapore-based digital asset trading firm QCP Capital noted that despite Ethereum reaching a two-year high in price, market sentiment has shifted, potentially leading to a price correction.
They believe the current market is overly leveraged, but expect traders to quickly buy any pullback.
In addition, QCP stated that historical data shows network upgrades such as Bitcoin’s Taproot and Ethereum’s Merge had limited price impact during bear or sideways markets. However, current market dynamics could lead to a price reaction in Ethereum and its Layer 2 networks following the upcoming Cancun upgrade.
Add to Favorites
Share to Social Media
