The merge is expected to be a significant catalyst for the second-largest cryptocurrency
, a subsidiary of Chicago-based trading giant DRW Holdings, has opined that the upcoming merge upgrade is going to be “a real catalyst” for Ethereum.
Based on the analysis of Jonah van Bourg, head of trading at Cumberland, the much-awaited upgrade will remove $20 million worth of miner selling per day. This factor is “impossible to ignore,” according to van Bourg.With that being said, Cumberland claims that the cryptocurrency market will have a hard time outperforming due to significant macro headwinds.At the same time, Cumberland believes that the cryptocurrency market will not see major liquidations in the near future.
The Fed is widely expected to step up its aggressive monetary policy. Earlier today, James Bullard, president of the Federal Reserve Bank of St. Louis, opined that interest rates weren’t high enough, predicting that inflation will be more persistent. has been mostly outperforming Bitcoin ahead of the merge upgrade, which has been confirmed to take place next month.
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