Ethereum (ETH) Price Struggles to Rally Amid Merge Risk, Macro Headwinds

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ValueWalk

Ethereum (ETH) price is trading lower this week following yesterday’s hotter-than-expected U.S. CPI report for August. Cryptocurrency investors have all eyes set on today when the much-anticipated migration from Proof-of-Work (PoW) to Proof-of-Stake (PoS) is scheduled to take place, the event also known as the “Merge.” Looking at the data, the world’s second-largest cryptocurrency is facing an increasing number of short positions in the derivatives market as investors seek to mitigate risk ahead of the long-awaited Merge event. Q2 2022 hedge fund letters, conferences and more While the Merge i…

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