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Anticipated BTC Price After ETH Merge

Anticipated BTC Pric

The cryptocurrency market continues to suffer from the recent drop triggered by the release of CPI data. In this context, the trading community anticipates a swift recovery following The Ethereum Merge. 

However, there may be a small drop in the price of Ethereum (ETH) after The Merge, although a bullish momentum will dominate going ahead. This is crucial for any other cryptocurrencies that may be affected by the network update. More importantly, the Merge marks a significant milestone in cryptocurrency history.

Bitcoin Price After Merge

Meanwhile, transaction activity around Bitcoin miners suggests the price may be affected. According to sources data, the value of miner transfers to spot exchanges is relatively higher than in recent times. This might be an indication that miners anticipate a downturn in Bitcoin price following The Merge. Furthermore, regardless of The Merge, the significant miner transfers might suggest a BTC price drop in the near term.

"The current value of miner transfers to spot exchanges exceeds previous highs in miner transfer activity. Stable values above 10 were last reported in July-August before the local fall of BTC."

On the other hand, Ethereum (ETH) faces the risk of a bear run following the completion of The Merge. According to recent statistics, traders prefer to short Ethereum derivatives, indicating that the price of ETH may fall. ETH plummeted in value soon after the consumer price index data was released. 

As per CoinGabbar statistics, the price of ETH is currently trading at $1,596.97, down 0.59% in the last 24 hours. Meanwhile, at the same time, Bitcoin's price was trading at $19,972.43, down 1.67% in the last 24 hours.

What After Ethereum Merge Is Complete?

With ETH shifting from the PoW consensus model to a PoS mechanism, the impact on price would not necessarily be immediate. In fact, ETH co-founder Vitalik Buterin stated that ETH might take up to eight months to show a price impact.

Read also: Active Ethereum Addresses And Staking Increases Before The Merge

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