Ethereum: The Merge Is Coming
- By Bilal Hafeez and Dalvir Mandara
- 10 min read
Summary
Trading View (next 2-4 weeks): We like to be neutral ethereum.
Investment View (next 1-3 years): We like to hold ethereum.
Macro Signals
- We expect the Fed to hike more than the market is currently pricing.
- The probability of a recession stays near 70% after Friday’s employment report.
- The macro backdrop is bearish for ethereum.
On-Chain/Flow Signals
- We have three bullish, two bearish, and two neutral signals this week.
Overall View
- With the macro backdrop bearish, our on-chain/flow metrics slightly bullish, and sentiment around the upcoming merge bullish, our overall signal is neutral ethereum (Chart 1).
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