QCP Capital highlights Ether price pressure as ETH holds steady above $4,000 with pre-Dencun upgrade.

Historically, network upgrades such as Bitcoin’s Taproot and Ethereum merger have had minimal impact on prices during bearish and sideways market conditions. However, due to current market dynamics, there may be price reflexivity in Ethereum and Layer 2, potentially influencing already priced prices. QCP analysts wrote in a Telegram interview with CoinDesk about the possibility of a Dencun upgrade or an influx of capital into the layer 2 ecosystem along with a positive knee jerk reaction.