The sell-the-news event: Ethereum plunge and fork fire sale

The merge became a sell-the-news event. ETHUSD is down 17% since the merge and has fallen 13% compared to BTC, as ETHBTC currently trades at 0.07.
Source: Tradingview (Binance)

Ether has struggled since the merge, experiencing a sharp drop in the last five days. Nevertheless, despite the poor price action, the merge was successful, and Ethereum is now a Proof-of-Stake network.

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