Ethereum keeps outperforming in anticipation of the merge

The past seven days have mostly been flat for the most prominent cryptocurrencies, with BTC floating around $20k for ten days. ETH keeps outperforming and is up 7% after a big pump on Tuesday.

Traders are bullish on ETH ahead of the merge, which is scheduled to take place between September 13th and 15th. Today ETH activated the Bellatrix upgrade, making the Ethereum node operators technically ready for the merge.

Apart from Ethereum’s merge, the crypto market’s main price-driving events are the big macro announcements and decisions.

The US CPI for August will be released on September 13th, and the ECB will make its interest rate decision on Friday, which is estimated to hike by 75bps. These macro events, combined with the merge, might be catalysts for increased volatility going forward.

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