According to PANews on March 30, Bloomberg commodity strategist Mike McGlone analyzed whether Ethereum could potentially drop to the $1,000 level as it did in 2020. He believes there is a clear connection between ETH and the prices of other risk assets, and if stocks in the S&P 500 continue to weaken, ETH might further decline. McGlone suggests that ETH returning to the $2,000 level could indicate a 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. He even predicts that ETH could fall back to the $1,000 price level later this year.