Bitcoin Jumps Over $30k, Shapella Is Coming Inevitably

The cryptocurrency market was exceptionally lively this morning - two important milestones await us in the coming days. Bitcoin reached over $30 for the first time since June last year, while Ethereum Shapell update is fast approaching.

Ethereum is also moving strongly but has yet to recover from the $2000 level. If it does, it will be above that level for the first time since May last year. However, much now depends on the response to the Shapell update.

Bitcoin exceeds $30

Bitcoin, the world's largest cryptocurrency, has surpassed $30 in value for the first time since June 000. BTC increased by about 6%. from the beginning of April, and within 30 days - by about 46 percent.

It has been on an upward trajectory since hitting its all-time low (just above $15) last November. Investors have become more bullish towards cryptocurrencies - although the initial progress has been rather very timid - as markets look for a price to pay for the end of rising US and global interest rates.

Momentum for bitcoin is constantly being built as investors absorb macroeconomic changes in the data. The next big deal markets will be looking at is US inflation due tomorrow. If inflation continues to fall, we can see a consolidation above $30. Currently, the price is still oscillating around the milestone.

However, the cryptocurrency still has a long way to go from breaking the all-time high (ATH) above $64 set in November 000 again.

The Ethereum Shapell update is imminent

Ethereum Shapell update (Shanghai/Capella) is due to be completed tomorrowaround midnight UK time. This update was the most anticipated by the cryptocurrency community since The Merge began the process of permanently removing ethereum from Cryptocurrency mining. The Shapell update completes this process and will unlock staked ethereum tokens for investors who believe in the future of the project, earning money along the way. There is speculation about what will happen to the market as a result of the changes.

It is likely that large stacked token holders will sell their positions to recoup funds and cash in on the progress. While some may be upside down in terms of price, they will have significant staking rewards unlocked along the way to get a bit sweeten this bitter pill.

The sale may cause some short-term price volatility, but hopefully it will be short-lived.

In the near term, we need to explore an investment case for ethereum – one that will soon include staking, earning, and the freedom to withdraw if needed. This is a significant moment for the sector and another point of contact in the debate between proof-of-stake and proof-of-work protocols.