Andrew Kang: ETH/BTC exchange rate may fall to 0.04 or lower
Odaily2024/07/25 01:58
By:Odaily
Odaily News Andrew Kang, co-founder of Mechanism Capital, said in a post on X that ETHs rebound before the ETFs listing has peaked at nearly $3,600. Excluding delta-neutral fund flows, the actual net inflow of ETFs yesterday was negative, and there is a possibility of a rapid withdrawal of about $4-5 billion of preemptive funds and leveraged funds. The ETH/BTC price ratio may fall to 0.04 or lower. If it falls to this level, ETH will no longer be an attractive hedging tool.
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