Home » Ethereum Bitcoin price loses $20K, ETH price drops 8% after ‘monumental’ Ethereum Merge Reading 2 min Views 1 Uncertain BTC price action continues as Ethereum trends downward despite the successful Merge. Bitcoin (BTC) spent a second day threatening $20,000 support on Sept. 15 as markets processed the Ethereum (ET Merge. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC stuck between price magnets’ Data from Cointelegraph Markets Pro and TradingView showed BTC/USD spiking below $20,000 again overnight to recover marginally above the boundary for a brief period. The largest cryptocurrency broadly failed to regain lost ground after surprise United States inflation data on Sep. 13 sent risk assets into a tailspin. Down 13.5% versus the week’s top at the time of writing, Bitcoin offered little inspiration to traders who were still eyeing further losses. Yes, we could pump from here. No, the bottom is not in. pic.twitter.com/dXYKngcQtR — Material Indicators (@MI_Algos) September 14, 2022 “Bullish above or after a reclaim of $20,800 or something like this and maybe up,” popular trader Crypto Ed summarized in his latest YouTube update. Merge successful. POS activated. We are all still here. — CZ 🔶 Binance (@cz_binance) September 15, 2022 Reacting, trading firm Cumberland nonetheless argued that the Merge’s smooth transition to proof-of-stake (PoS) was a “momemental” achievement in itself. “The fact that it was successful yet uneventful is an incredible testament to the people involved, what they’ve done for the world of crypto, digital assets, and decentralized computing,” part of a Twitter thread read. “Every Bitcoin Halving, people said the event was priced in. But every Halving was a buy-the-news event,” Charles Edwards, creator of analytics resource LookIntoBitcoin, added. “It seems everyone is calling the Merge a sell-the-news event. So I suspect it wont be. The Merge is Ethereum’s Halving.” ETH/USD 1-hour candle chart (Binance). Source: TradingView The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.