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

Co-founder of Mechanism Capital, Andrew Kang, stated that ETH reached nearly $3,600 during the recent rebound before the ETF listing, but he expects the ETH/BTC ratio to decline after the approval or launch of the ETF. He believes that BTC is performing strongly in a market structure that is not good, which may indicate some undisclosed important developments, such as major new market participants (such as Dell), China relaxing its encryption policy or launching 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 corrected the previous view that BTC would fall to $40,000. Most altcoins will still reach lower price highs during this rebound, except for a few strong memecoins (such as Mog, Popcat, and Apu). He also pointed out that BTC, ETH, and altcoins have fallen by 20-50% recently, and AltBTC will continue to be weak. He emphasized that timely adjustment of views is the way to long-term victory.