Ethereum (ETH) Price Turns Deflationary Even Before The Merge, Here's Why

Ethereum (ETH) price is set to be deflationary after the Merge due to the EIP-1559 burning mechanism. However, the ETH price continues to dive below $1500 even before the Merge. The pressure is due to whales selling their ETH holdings, Fed Chair Jerome Powell’s rate hikes cues, and almost $2 billion in options expiry on September 30.