Trader Eugene: Once again reducing a significant portion of long positions, the current alt season's wealth effect may be the weakest in history

By: theblockbeats.news|2025/07/30 08:02:24

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)."

From South Korea and the OECD accelerating the implementation of crypto regulation and compliance frameworks, to the simultaneous development of TAO ETFs, privacy technologies, mining, and Bitcoin reserves, while security incidents and financial losses continue to rise, the crypto market has entered a new phase amid multiple challenges of "strong regulation + technological evolution + amplified risks."

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