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Santiment: ETH's Weakness post Pectra Upgrade Triggers Retail Panic Selling, Contrarian Play Yields Big Profits

8 hours ago

May 9th - Based on the analysis by Santiment, after the recent Pectra upgrade, the price performance of ETH has been rather weak. A certain number of traders, particularly retail investors, sold off their ETH and instead rushed to other Memecoins. However, after the retail panic, in the past two days, ETH has demonstrated different performance and reclaimed the $2,075 level for the first time in more than 6 weeks. This may indicate a contrarian strategy aimed at profiting against the crowd of retail investors.
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