ChainCatcher news, Mechanism Capital partner Andrew Kang shared his unique insights into the cryptocurrency market on X. He believes that market participants may overestimate the impact of the Fed's rate cuts and China's stimulus measures on cryptocurrency prices.

Kang pointed out that the Fed's interest rate is only one of many factors that affect global liquidity, and global liquidity itself is only one of many factors that affect cryptocurrency prices. He mentioned that Bitcoin rose 4.5 times when interest rates reached a multi-decade high, which shows that there is almost no correlation between interest rates and Bitcoin.

In addition, China's stimulus plan is far more beneficial to the stock market than cryptocurrencies, because Chinese traders have noticed the migration of funds from cryptocurrencies to A shares.

Kang believes that the market is still changing, and new projects and capital rotation may cause price fluctuations. The cryptocurrency market is currently expected to fluctuate between $50,000 and $72,000 until a substantial catalyst appears.