Ethereum's recent drop might spell further trouble, here's why ETH $ETH Merge Crypto
, Ethereum might risk a further drop to $1,000, which represents a 31% decline from current prices in the event of a decisive break beneath the $1,460 support. reported that a futures and options backward movement after September indicated that a"sell-the-news" assumption was in play ahead of the event.
On-chain analytics firm Glassnode also highlighted the fact that futures traders were pricing ETH at a discount post-Merge and were willing to pay a premium for downside protection. This is based on the relatively lower demand for ETH exposure via options after the Merge event.Cryptocurrency prices have fallen this year along with those of other risky investments as a result of tighter monetary policy being implemented to combat excessive inflation.
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