According to PANews, Andrew Kang, co-founder of Mechanism Capital, has suggested that the approval of the Ether ETF could be delayed by one to two quarters. He made this statement on platform X, noting that the timeline for adding the ETF to wealth management platforms, as suggested by experts, has been pushed back from the end of May to the fourth quarter.
Despite the market momentum turning from bullish to bearish due to a lack of substantial ETF inflows, Kang remains confident in Bitcoin's strength, asserting that its price will not fall below $50,000. While the weekly chart may indicate a double top to some, Kang believes that the market structure has significantly changed from previous cycles. He attributes this to more DCA buyers creating higher bottoms and equilibrium points for Bitcoin, while the leverage of large momentum players like 3AC, Alameda, and Celsius is relatively small.
As for Ether, Kang predicts its price may remain stable until the ETF is listed, but its upside for this year is limited, likely peaking around $4,000. However, if fund flows disappoint or there is a large sell-off of ETHE, its price could fall to between $2,000 and $3,000. Kang notes that Ether's publicity and familiarity in the market are unusually high, which has led investors to have slightly higher expectations for the ETF than ordinary buyers.
Kang also mentioned Solana's excellent performance in this cycle, but it has also seen the reflexivity of meme trading demand, which has had an impact in both directions. If meme trading pauses in the coming months, we may see SOL's price approach $80 again.