Can The Recent ETH Pump Indicate a Shift in the market?

The recent 15% Ethereum pump to $1400 has made everyone hysterical over the weekend, celebrating it as if it’s the last bull run in the market. The hype is back at least temporarily, showing renewed confidence and even euphoria in the market.

Meanwhile, the movement is not nearly as dramatic as it seems if we zoom out to daily.

But is this enough to trigger a paradigm shift in the crypto market? Is this more than just short-lived euphoria?

The short answer is probably not. The long answer is, this is an emotional market with unprecedented events due to take place soon, so a clear-cut answer might not be easily available. However, macrotrends aside, it will probably come down to the following two factors:

Ethereum Merge is coming (eventually)

After multiple delays, the Ethereum proof-of-stake merge is due to take place in September, creating a wave of anticipation within the crypto industry. It’s one of the most highly-anticipated technological developments in the cryptoverse, and most…