🟣 ETH is stagnant after the Pectra upgrade – is 'sell the news' repeating again?
Ethereum has just completed the Pectra upgrade with 11 significant technical improvements, but ETH's price is still around $1,830, 40% lower than the same period last year.
Although the community has high expectations, experts believe this is another 'sell the news' event similar to after 'The Merge' in 2022 – the market reacted weakly despite a successful upgrade.
Why hasn't ETH's price increased?
Investors are focusing more on the Fed's interest rate decision.
95.6% chance the Fed will keep interest rates unchanged, but Powell may speak gently due to falling inflation and negative GDP.
If the Fed is lenient, ETH could rally later, following the ripple effect from Bitcoin.
In summary: Pectra is an important technical advancement, but ETH's price is still awaiting a 'trigger' from macro factors.