Ethereum loses its rise after “Shanghai” ── Bitcoin also falls | coindesk JAPAN | Coindesk Japan

Ethereum (ETH) dropped to $1,833 on the afternoon of the 21st, its lowest since April 9, according to CoinDesk data. We’ve lost all the gains that we liked last week when the big upgrade “Shanghai” went off without a hitch.

ETH is down more than 13% from its high of $2,118 on the 18th as of this writing. It fell 5.3% in 24 hours (close to $1,860 at 10:30 Japan time on the 23rd) as investors worried about the macroeconomic environment and uncertainty about the cryptocurrency industry.

ETH began to rise on the day after “Shanghai” on April 12, and temporarily hit an 11-month high. It has hovered below $2,000 for most of the year.

Not only ETH, but the entire cryptocurrency market is also declining. Bitcoin (BTC) is down more than 3% in a 24-hour period near $27,200, down more than 10% from its high above $30,000 on the 18th.

The cryptocurrency market has shown weakness over the past few days, with persistent inflation, stock market movements and concerns over a recession, said Edward Moya, senior market analyst at Oanda, 20. Said on CoinDesk TV today.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Image: ETH price change over the past month (CoinDesk)
｜Original: Ether Erases All Gains From Shanghai Rally as Bitcoin, Other Crypto Prices Also Fall