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Ethereum staking withdrawals are picking momentum. But they have not been able to cause a major selloff as many had anticipated post the Shanghai upgrade. The price of Ethereum's Ether (ETH) token came just a few dollars from hitting $2,000 a day after the launch of the network's long-anticipated Shanghai upgrade. Ethereum ducks sell-the-news fears On April 13, Ether's price gained roughly 4% to reach an intraday high of $1,996 on Coinbase, ignoring the potential selloff pressure the Shanghai upgrade could potentially bring to the market. ETH/USD daily price chart. Source: TradingView To recap: the Shanghai hard fork, also known as "Shapella," enables users to withdraw their ETH from Ethereum's Proof-of-Stake smart contract. As of 09:00 UTC, April 13, over 98,000 ETH worth around $194.8 million has left Ethereum's voting balance reserves since the Shanghai launch a day ago, according to Nansen. In other words, nearly $200 million in potential selling pres...

Bitcoin price finally broke through the $28,000 mark, but BTC futures and options data suggest some traders are uneasy about the strength of the recent bullish momentum. The price of Bitcoin (BTC) surpassed $28,000 on March 21, but according to two derivatives metrics, traders aren't very ecstatic after a 36% gain in eight days. Looking beyond Bitcoin’s stellar performance, there are reasons why investors are not fully confident in further price upside The recent rescue of Credit Suisse, a 167-year-old leading Swiss financial institution, is proof that the current global banking crisis might not be over. On March 19, Swiss authorities announced that UBS had agreed to acquire rival Credit Suisse in an "emergency rescue" merger in order to avoid further market-shaking turmoil in the global banking sector. The transaction could benefit from more than $280 billion in state and central bank support, which is equivalent to one-third of Switzerland's GDP. Unfortunately, th...