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Trader Eugene: Once Again Reducing Most Long Positions, Wealth Effect of This Altcoin Season May Be Weakest in History
Summary: According to reports, trader Eugene Ng Ah Sio posted on his personal channel that he has once again reduced most of his long positions and is maintaining a defensive stance. Historically, August has been a challenging month, and he does not believe this year will be smooth sailing. Interestingly, in terms of the wealth effect ...
According to reports, trader Eugene Ng Ah Sio posted on his personal channel that he has once again reduced most of his long positions and is maintaining a defensive stance. Historically, August has been a challenging month, and he does not believe this year will be smooth sailing. Interestingly, in terms of the wealth effect brought about by the rise in Ethereum prices, this altcoin season may be the weakest ever. This once again indicates that institutional funds are the main drivers of buying pressure, and funds have not flowed back into altcoins (which also confirms his previous stance of only focusing on ETH).
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Link: Trader Eugene: Once Again Reducing Most Long Positions, Wealth Effect of This Altcoin Season May Be Weakest in History [Copy]
