EthHub co-founder: There is no fundamental reason to be bearish. The new highs in the stock market and strong expectations for interest rate cuts are all positive signals.

According to TechFlow, EthHub co-founder Anthony Sassano (sassal.eth) said that ETH's one-day rise from $3,000 to $4,000 is equivalent to several months of "pre-ETF approval" price action. Since the ETH ETF was approved on May 23, this increase has been waived, similar to BTC's 20% drop after the ETF was approved on January 10. It remains to be seen whether ETH will set new highs in the coming weeks.

Sassano believes that the main pressure on ETH at present is the possible outflow of Grayscale ETHE, but ETHE has been discounted below 2% for a long time (now it is premium), so there may not be many people waiting to sell after the conversion to ETF. In addition, the fees after ETHE is converted to ETF are not clear yet, which may be lower than expected or temporarily waived.

Overall, he believes that there is no fundamental reason to be bearish. The stock market has hit a record high, expectations for interest rate cuts are strong, regulatory benefits and the ETH ETF began trading this month, all of which bring positive signals to the market. He emphasized that the main goal of investors is still survival.