PANews reported on June 20 that Andrew Kang, co-founder of Mechanism Capital, wrote on the X platform: “I think the approval of the spot Ethereum (Ether) ETF may be delayed by one to two quarters. Some market views currently show that the time recommended by experts for seeking approval/ETFs to be added to wealth management platforms has been postponed from the originally planned end of May to the fourth quarter.

Although the market momentum has turned down due to the lack of large ETF inflows, I firmly believe that Bitcoin is still strong and the price will not fall below $50,000. While the weekly chart may indicate a double top to some, I believe the market structure has changed significantly from previous cycles, with more DCA buyers creating a higher bottom and equilibrium point for Bitcoin , while the leverage of large momentum players (such as 3AC, Alameda, Celsius, etc.) is relatively small.

For Ethereum, I predict that the price may remain stable until the ETF is listed, but the upside this year is limited, and the maximum is expected to be around $4,000. However, if the fund flow performance is disappointing or there is a large ETHE sell-off, the price may fall to between $2,000 and $3,000. I noticed that the publicity and familiarity of Ethereum is unusually high in the market, which also makes investors expect slightly more from the ETF than the average buyer. Solana has performed well in this cycle, but it has also seen the reflexive nature of meme trading demand, which has exerted influence in both directions. If meme trading pauses in the next few months, then we will likely see SOL prices close to $80 again. ”