Why the Ethereum Merge Was a “Sell the News” Event

Key Takeaways

• Ethereum has successfully shipped the Merge after years of anticipation, but ETH is down. The number two crypto has lost 25% of its market value over the past week.
• Though the Merge brought several notable upgrades, it will likely take time for the market to digest the event.
• The weak macro environment has been a major factor weighing down ETH and other crypto assets this year.