Mechanism Capital co-founder: ETH is expected to approach $3,600 before the ETF is launched, and ETH/BTC will fall after the launch

Andrew Kang, co-founder of Mechanism Capital, said that ETH once approached $3,600 in this wave of rebound before the ETF was listed, but the ETH/BTC ratio is expected to fall after the ETF is approved or launched. He believes that BTC's strong performance in the context of poor market structure may indicate some important unannounced developments, such as major new market participants (such as Dell), China's relaxation of encryption policies or the launch of ETFs, and other major national-level BTC acceptance measures (such as the US government). If these expectations come true, BTC may have bottomed out at around $50,000 and revised the previous view that BTC will fall to $40,000. Most altcoins will still set lower price highs in this rebound, with the exception of a few strong memecoins (such as Mog, Popcat, Apu). He also pointed out that BTC, ETH and altcoins have fallen 20-50% recently, and AltBTC will continue to be weak. He emphasized that timely adjustment of views is the way to win in the long run.