Ethereum Merger was widely talked about in the past couple of months as the bearish trend was expected to be ceased for a while. Nevertheless, the trend was flipped in a short time with the announcement of the fresh CPI rates which further led to a huge decline in the BTC & ETH prices. The past weekend dragged the BTC & ETH prices below $19,000 & $1400 respectively, also flashing major bearish signals in the coming days.
Presently, star crypto has managed to outperform the second largest crypto which is well-known for its steady behavior. Similar to ETH, BTC prices maintained a steady trend around the average levels. Regardless of the recent drop, the BTC price appears to be primed for a decent breakout, while the ETH price may continue to head towards the bottoms.
The above chart illustrates the price movements of Bitcoin & Ethereum post the Merger event. With the price movements, it is fairly visible that both assets maintained a homogenous trend just before the event. But soon after the transition, the ETH price dropped heavily to reach -18.14% away from the average levels. While the BTC price was less impacted as it maintained a stagnant trend until the latest crash.
The nature of the price plunge does indicate the second-largest crypto is being lately turned into a centralized platform and hence the ETH price could be in controlled hands. While Bitcoin continues to work on the same Proof-of-Work mechanism, follows the basic feature of blockchain of being decentralized.