Etherum’s Pectra Upgrade could serve as a catalyst, but the market feels “, and analysts warn

Despite the inflow of $ 500 million at video in Spot Etherum ETFS, the second largest crypto market continues to fight a little price movement.

Etherum’s (El) The price is still stuck, even with points of external funds transported. Despite an ethia who will cross the majority of its premises from Trump election in November 2024. years, the demand of long-term investors increases, analysts at Matrixport tellpointing to an increased ethi’s purchase of members of world financial freedom, a decentralized finance group related to the president Donald Trump.

As a cripto.news mention Before, world free financial plans for creating “strategic reserves” with Altcoins, although the exact purpose of the reservation is still unclear.

Even with VFL I pick up more Ethereum, Market Sentiment remains cautious in front of Etherum’s Petra upgradewhich is set to start on the test Holeski and Sepolia in February and March, with the Mainnetic Connection that comes in April. Unlike previous upgrades, expectations for significant price movements are low, analysts are recorded.

“Without a pure bullish catalyst, the estate prices can continue to fight, and Etherum’s market domination has already fallen at only 10%.”

Matrikport

Wider market Altcoin, including Dogekoin (Exaggerate), XRP (XRP) and Solana (Salt), also faced pressure downward. As a cripto.news export Earlier, the index of fear and greed decreased by 35 years, the lowest level of October 2024. year, signaling increasing fear in the market. The historical, terrible market tends to lead to a reduction in cryptocurnence prices.

The Altcoin Season Index also fell at 33, down from 47 at the beginning of the year, suggesting a weaker demand for Altcoins compared to Bitcoin (Btc). Although Bitcoin remained a relatively stable, the drop of AllCoin index signals that investors are increasingly favored by bitcoin compared to other cryptocurrencies.