ETH falls below $1,600, despite completion of The Merge.
Bitcoin, Ethereum Technical Analysis: ETH Drops Below $1,600 Following Completion of The Merge
Ethereum fell below $1,600 on Thursday, despite the successful completion of the highly anticipated Merge event. The event saw a migration from proof-of-work , to a proof-of-stake system. Bitcoin was also lower in today’s session, with the token falling below the $20,000 level.) fell below $20,000 on Thursday, as sentiment surrounding cryptocurrencies remained bearish.
Following U.S. inflation data earlier this week, crypto markets have been hit with a red wave, with bitcoin falling by over $2,500 since the start of the week.
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