ChainCatcher news, according to Matrixport, the price of Bitcoin has been in a gradually narrowing wedge pattern since mid-November last year, influenced by multiple factors including higher-than-expected inflation data and the Federal Reserve's hawkish stance suppressing market sentiment, as well as optimistic expectations in the market regarding President Trump's potential establishment of a "strategic Bitcoin reserve."Trump's inauguration has become a catalyst for Bitcoin's upward breakout, and the current Bitcoin price is retesting the breakout level, which aligns with the upper boundary of the wedge. If Bitcoin can firmly hold this key support level, it still has significant upside potential in the short term, further enhancing bullish expectations in the market.

ChainCatcher news, according to The Block, BRN analyst Valentin Fournier stated, "The momentum of Bitcoin paused yesterday, reaching a high of $90,000 during the day. We believe this indicates that some large investors are taking profits, which may lead to a brief pullback before the price resumes its upward trend."Fournier noted that upcoming events and technical indicators may suggest potential price reversals. "Currently, the upside potential seems greater than the short-term downside risks. However, if today's upcoming CPI data exceeds expectations, it could trigger market volatility."

ChainCatcher message, Mechanism Capital co-founder Andrew Kang posted on X: "ETH is slightly below the lower bound of my estimated range in dollars. This may be due to the impact of the Germany + Mt Gox sell-off/worries + ETF launch delays. Given that we have sold so much, ETH could potentially see a relief rally after the ETF approval, but the upside is expected to be capped at $3600."

ChainCatcher news, Andrew Kang, co-founder and partner of the crypto venture capital firm Mechanism Capital, stated on social media that unless Ethereum develops a convincing way to improve its economic situation, the price of Ethereum will not gain much upward space from the approval of a spot ETF.He expects the capital flow from the Ethereum spot ETF to be lower than the market's general expectations, as the approval of the ETF was unexpected and the issuers did not have much time to persuade large holders to convert their ETH into the ETF. On the other hand, the appeal for holders to convert ETH is relatively low, as they would need to forgo the yields from staking or using ETH as collateral in DeFi.Additionally, Andrew Kang anticipates that ETH/BTC will continue to trend downward, with the ratio expected to be between 0.035 and 0.06 over the next year. Although the sample size is small, the market has indeed seen ETH/BTC set lower highs in each cycle, so this should not be surprising.