Trader Eugene: Once again reducing a significant portion of long positions, the current alt season's wealth effect may be the weakest in history
BlockBeats News, July 30th, trader Eugene Ng Ah Sio posted on his personal channel stating, "I have once again reduced most of my long positions and am still maintaining a defensive stance. Historically, August has usually been a challenging month, and I do not think this year will be smooth sailing."
Interestingly, in terms of the wealth effect brought about by the rise in Ethereum price, this round of altcoin season may be the weakest. This once again illustrates that institutional funds are the main drivers of the buying pressure, and the funds have not flowed back into altcoins (which also reaffirms my previous stance of only holding ETH)."
You may also like

SharpLink Snaps Up $295M in ETH on August 5, 2025 – Outpacing Last Month’s Entire Ether Issuance
Imagine a company that’s not just dipping its toes into the crypto world but diving in headfirst, turning…

Divine Research Rolls Out Unbacked Crypto Loans Powered by Sam Altman’s World ID as of August 5, 2025
Imagine stepping into a world where everyday people, from high-school teachers to fruit vendors, can snag quick loans…

ETH Price Poised for $4K Breakthrough Despite Bitcoin and Altcoin Downturn
As of today, August 5, 2025, the crypto market is buzzing with mixed signals, but Ether (ETH) stands…

Best Cheap Crypto to Buy Now: Identifying Promising Low-Cost Cryptocurrencies
With the dynamic nature of the cryptocurrency market, identifying the best cheap crypto to buy now can be…

Which Crypto to Buy Today for Short-Term Gains?
In the fast-paced world of cryptocurrencies, choosing the right coin for short-term investment can be both exciting and…
Gainers
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:[email protected]
VIP Services:[email protected]