Ethereum Falls Below This Key Level Following Inflation Data; Rocket Pool, Conflux Among Top Losers

Bitcoin (CRYPTO: BTC) moved lower, with the cryptocurrency prices trading below the key $30,000 level on Wednesday following the release of inflation data. The headline CPI came in at 5% year-on-year in March, down from 6% in February, according to data the Labor Department reported on Tuesday.

Timeline of Conflux-network, Ethereum, Rocket-pool

The biggest Ethereum news in 2023 is just about to hit as the cryptocurrency welcomes its highly anticipated Shanghai upgrade today, 12 April 2023. As it happens, the market is unsure of just how much of an impact enabling of withdrawals of staked ETH will have on the price of Ether.

Ethereum (ETH), the second-largest cryptocurrency by market cap, experienced considerable price fluctuations in April, with the price sitting at $1,871 as of April 12, reflecting a 2.5% decline in the last 24 hours.

The highly anticipated ethereum Shanghai upgrade is scheduled for activation today, April 12th, following a swift consensus reached during the 157th AllCoreDevs Execution Layer meeting.

Whales are selling altcoins as fear-mongering continues in the Ethereum (ETH) community, with many expecting a possible market crash. As the Ethereum Shanghai upgrade draws near, the community and major stakeholders in the crypto landscape are acting in preparation.

The most-awaited Ethereum Shanghai mainnet upgrade is scheduled at epoch 194048 on April 12 at 10:27:35 PM UTC, as per the announcement by Ethereum core developers. The Shapella (Shanghai + Capella) upgrade will enable validators to withdraw their Ethereum staked on the Beacon Chain to the execution layer.

Ethereum's highly anticipated Shanghai/Capella hard fork, scheduled for today, April 12, will enable withdrawals of staked ETH, raising concerns about potential sell-side pressure on the market.  As of this writing, ETH price has already retraced nearly 2.

The much-awaited Shapella upgrade for the Ethereum (CRYPTO: ETH) network has arrived, and analysts have weighed in on what it could mean for the world's second-largest cryptocurrency.  What Happened:  While some traders and analysts have expressed concerns about the potential impact of the phased release of staked Ethereum, on-chain analytics firm Glassnode said only a tiny fraction of staked Ethereum will be sold following the upgrade.

Bitcoin may be straddling 30k, but Ethereum (ETH) hodlers have other worries on their minds with the Shanghai hard fork upgrade due to take place in the latter hours of this evening (Wednesday, April 12 for retrospective readers). While hype and anticipation for Shanghai, which is expected to go live at epoch 194,048 on the Ethereum blockchain, or just before 10.30pm UTC (11.30pm BST/8.

Analysts differ on the amount of ether (ETH) selling pressure that could result from the Ethereum blockchain's Shanghai upgrade, scheduled for later today. The Shanghai upgrade (aka Shapella), will enable validators to withdraw staked ether and rewards that have been locked up.

Widely followed crypto analyst Benjamin Cowen is updating his outlook for Ethereum (ETH) for the second half of the year as Bitcoin (BTC) enters the $30,000 level. In a new strategy session, Cowen tells his 785,000 YouTube subscribers that Ethereum may dip lower before seeing new all-time highs.