The recent drop in Ethereum's price below $2,500 has drawn attention and sparked discussions among analysts, especially following the completion of the Pectra upgrade.
Price Drops and the Pectra Upgrade
The decline in Ethereum's price below $2,500 is linked to the market's active reaction to the completion of the **Pectra** upgrade on the mainnet. Prices fell by 15%, raising questions about Ethereum's scalability and economic prospects.
Market Reactions and Potential Consequences
The market reacted to the drop with a 42% increase in futures open interest, reflecting heightened trader interest. Meanwhile, a significant exit of funds amounting to $2.5 billion was noted amid short-term volatility.
Forecasts and Long-Term Prospects
Despite current corrections, experts remain optimistic about Ethereum's technological progress. Forecasts indicate potential future price rallies, supported by technical analysis and historical trends.
Overall market sentiments remain diverse; while current price fluctuations are driven by short-term factors, Ethereum's long-term outlook remains positive.
