In general, today the market drop and ETH drop are around 7%, of course not because of the merge process that has been completed for almost a month but because of the bearish market, it is impossible for Eth to run alone while the market is dropping, all we do is only patient and buy again when the price is cheap .
It can be a correction and also due to the bear market. Aside from that, the creation of new ETH tokens is way cheaper than before so it is also another factor. But nevertheless, I still think ETH will will recover after this bear market despite of the controversies of the transition. And I still think ETH is in for a huge correction in the coming months.
I agree the ETH market is going down because the overall cryptocurrency market is going down however i believe that POS ETH should have the same valuation like the POW one because the cost of production is not that much and hence it is selling at a huge margin 
. I am expecting the price to go down further and i am not sure when they are planning to cap the number of coins in existence even though i heard these discussions earlier.
Capping ETH may bring great news for this will counter the cheap production of ETH. . I am expecting the price to go down further and i am not sure when they are planning to cap the number of coins in existence even though i heard these discussions earlier. @OP if you are in for a long run, then you need not to worry about ETH. Developers and marketers are busy developing the ETH market so we just need to sit down and relax while hodling ETH.