Ethereum News: Uncertainty Looms as Unrealized Profits Plummet and Price Resistance Tested

Recent developments in the Ethereum market have sparked concerns among investors, with unrealized profits dropping to bear market lows and the cryptocurrency facing key resistance levels. Here’s a closer look at the current state of Ethereum and what it means for the future.

Ethereum (ETH) Whales Struggle: Unrealized Profits Drop to Bear Market Lows

Ethereum’s unrealized profits have dropped to bear market levels, increasing market volatility and investor uncertainty. Mid-tier Ethereum holders face losses, weakening investor confidence as the ETH/BTC ratio remains low. Ethereum is currently testing the $2,210 resistance level; a breakout could push prices to $2,325, but failure may trigger another decline. Most major Ethereum holders are now back to where they started during the previous bear market, which directs to even higher volatility and risk in the market.

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Ethereum’s Pectra Upgrade Faces Hurdle on Sepolia Testnet

Ethereum’s highly anticipated Pectra upgrade has encountered another obstacle, this time on the Sepolia testnet. Tim Beiko, the Protocol Support Lead at the Ethereum Foundation, revealed in a March 5 post that a custom deposit contract on Sepolia has caused some execution layer (EL) clients to have issues including transactions in blocks. This malfunction has affected transactions within blocks, with the network propagating empty blocks, as observed by Emiliano Bonassi, Head of Product at crypto infrastructure firm Conduit.

Ethereum, QE Correlation: Big ETH Price Breakout In View?

Ethereum (ETH), the leading altcoin, continues to see its price fluctuate following a broader market downturn. Based on Federal Reserve’s Quantitative Easing (QE) expectations, analysts forecast that ETH prices may soon see a quick recovery. Minutes from the December FOMC meeting indicated that some Federal Reserve officials plan to discuss “slowing the pace” of securities runoffs on its balance sheet. The Fed balance sheet affects market sentiment and liquidity, influencing how cash investors may want to process conflicting signals.