The post Chinese Trader Shares His Next Plans After Recent Bitcoin Surge appeared on BitcoinEthereumNews.com.

Prominent trader Eugene Ng Ah Sio has signaled a major shift in his market outlook after Bitcoin (BTC) surged above $90,000. In a post on his personal channel, Eugene explained that the “downtrend has basically been negated” and that he now plans to explore long positions in altcoins as market sentiment shows signs of a revival. “Bitcoin has crossed $90,000 and the price has climbed my worry wall,” Eugene said. “If this continues, I will be looking for long opportunities in altcoins. The fanatical market sentiment will make a comeback in a wide range of altcoins and I will be digging deeper again.” This change of tone comes shortly after Eugene announced that he had closed out his short Bitcoin position at breakeven. He acknowledged the market’s renewed strength, noting that the previous trading range had been recovered and admitted that the ongoing rally had forced him to reevaluate his previous bearish stance. “Especially during the tariff panic, when altcoins seem to have bottomed out, I have to confront my bearish bias,” he said. “I am currently in a contradiction: logically, I think there is a lack of momentum for continued growth, but the price trend continues to reject that judgment.” Despite his doubts about the sustainability of the rally, Eugene said he would remain cautious, maintaining his net position for now. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/chinese-trader-shares-his-next-plans-after-recent-bitcoin-surge/

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Filed under: News - @ April 23, 2025 1:28 pm