Andrew Kang, co-founder of Mechanism Capital, said that ETH was close to $3,600 at one point in this wave of rally before the ETF listing, but expected the ETH/BTC ratio to decline after the ETF approval or launch. He believes that BTC has performed strongly in the face of poor market structure, which may herald some unannounced important developments, such as major new market players (such as Dell), China's easing of crypto policy or launch of ETFs, other major country-level BTC acceptance initiatives (such as the US government). If these expectations come true, BTC may have bottomed around $50,000 and corrected the previous view that BTC will fall to $40,000. Most counterfeit products will still hit lower price highs in this rally, with the exception of a few strong memecoins (such as Mog, Popcat, Apu). He also pointed out that BTC, ETH and counterfeit products have fallen by 20-50% recently, and AltBTC will continue to be weak. He stressed that timely adjustment of views is the way to win in the long run.