Andrew Kang, Partner at Mechanism Capital, posted an opinion on x that market participants may have overestimated the impact of Fed rate cuts and Chinese stimulus measures on cryptocurrency prices. He pointed out that Fed interest rates are only one of the factors affecting global liquidity, and global liquidity itself is only one of the factors affecting cryptocurrency prices. It seems absurd to expect a strong negative correlation when rates start to fall after a 4.5-fold increase in the period when interest rates are about to reach and reach multi-decade highs. In addition, the reason why the Chinese stimulus package is much better for stocks than cryptocurrencies, Chinese traders have noticed the migration of funds from cryptocurrencies to class A shares. Kang believes that the market is still changing, new projects and capital rotations may cause price volatility, and the cryptocurrency market is currently expected to fluctuate between $50,000 and $72,000 until a substantial catalyst occurs. Kang believes that the market is still constantly changing, and new projects and capital rotations could lead to price volatility. The cryptocurrency market is currently expected to fluctuate between $50,000 and $72,000 until a substantial catalyst emerges.