ETH long-term and short-term holders stop buying after PoS conversion

CoinTelegraph reported that “the ETH/BTC ratio has fallen 70% since Ethereum's merge (PoS conversion) two years ago.” In this regard, Joao Wedson, CEO of the on-chain data analysis platform Alphalect, said, “The worst thing for Ethereum is the merge upgrade. Long-term and short-term ETH holders have stopped buying since then. Even exchange addresses, miners at the time of PoW, and funds holding more than 100,000 ETH are not buying.”