The Ethereum Pectra upgrade includes 11 new features, including scalability enhancements, sparking discussions on whether the “buy the rumor, sell the news” trend will repeat.
On February 5, 367,000 ETH were withdrawn from exchanges, reflecting robust accumulation as Ethereum’s price fell below $3,000.
Crypto market traders and investors are gearing up for Ethereum’s much-awaited Pectra upgrade while stirring up discussions on whether the classic “buy the rumor, sell the news” trend will repeat itself. The Ethereum Pectra upgrade will happen sometime in April, subject to successful testnet deployments on February 24 and March 5, as reported in our earlier coverage.
Crypto options trading desk QCP Capital has noted a predominantly bullish stance among traders positioning ahead of the upgrade. This reflects strong optimism, providing a ray of hope to investors as Ethereum has been struggling for a while, flirting around $2,700 levels. In its analysis, QCP Capital noted:
