TechFlow news, Andrew Kang, co-founder of Mechanism Capital, said ETH could approach $3,600 ahead of a potential ETF listing, but he expects ETH/BTC to decline following ETF approval or launch.
He believes BTC's strong performance despite poor market structure may signal unannounced significant developments, such as major new market participants (e.g., Dell), China relaxing its crypto policies or launching an ETF, or other major national-level BTC adoption initiatives (such as the U.S. government).
If these expectations materialize, BTC may have already bottomed in the lower $50k range, rendering the revised $40k valuation invalid. Most altcoins will still make lower highs during this rebound, with the exception of a few strong memecoins such as Mog, Popcat, and Apu.
Kang also noted that BTC, ETH, and altcoins have recently dropped 20-50%, and AltBTC will likely remain weak. He emphasized that adapting one’s views is the key to long-term success.
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