Mars Finance News, on March 30, Bloomberg Intelligence commodity strategist Mike McGlone analyzed on X platform whether Ethereum is likely to drop to the $1,000 level as it did in 2020. He believes the market should focus on the ETH price trend, as there is a clear connection between ETH and the prices of other risk assets in the market. If stocks in the S&P 500 continue to be weak, ETH may further decline. At the same time, Mike McGlone believes that ETH returning to the $2,000 level could indicate the direction for risk assets. However, if Bitcoin fails to restore stable price growth, it may exacerbate losses for Altcoins, especially top Altcoins, which will continue to weaken and potentially cause ETH to fall back to the $1,000 price level later this year.