According to PANews, Andrew Kang, co-founder of Mechanism Capital, posted on the X platform that the approval of the spot Ethereum ETF may be delayed by one to two quarters, and the original plan for the end of May has been postponed to the fourth quarter. Although the market momentum has turned from rising to falling due to the lack of a large amount of ETF funds inflow, he firmly believes that Bitcoin is still strong and the price will not fall below $50,000.
For Ethereum, he predicts that its price may remain stable until the ETF is listed, but the upside this year is limited, and is expected to be around $4,000 at most. However, if the fund flow performance is disappointing or there is a large sell-off of ETHE, its price may fall to between $2,000 and $3,000. He also mentioned that Solana has performed well in this cycle, but if meme trading is suspended in the next few months, then we are likely to see the price of SOL close to $80 again.
