In a new video, DataDash host Nicholas Merten tells his 515,000 YouTube subscribers that macro factors could overshadow the hype surrounding Ethereum’s upcoming consolidation.
In the minutes of the latest Federal Reserve meeting, the technological innovations in the Ethereum consolidation event and the currency outlook are not what the market is looking for. This is clearly reflected in the stock over the past few days as the bearish momentum is showing signs of increasing.
With the macro backdrop acting as a windfall for the cryptocurrency market, Merten said that both Ethereum and Bitcoin (BTC) are currently showing signs of declining momentum.
Merten also emphasized that Ethereum in the Bitcoin (ETH/BTC) pair also seems overwhelming compared to the more than 50% rally in about two months.