Why do I feel like everyone around is flaunting their profits? I thought I was the only one struggling.

Eugene: The past two months have been one of the most challenging trading periods. Current market sentiment remains conservative.

Trader Eugene stated that the past two months have been one of the "most difficult trading phases" he and many top traders have experienced. The macro fundamentals are bearish, coupled with extreme market fluctuations, leading most traders to be stopped out during rallies or choose to stay on the sidelines.

The main risk factors he mentioned include:

1: Ongoing trade tariff issues continue to suppress global growth, and Trump's policy direction remains unclear;

2: The U.S. 10-year Treasury yield remains high, which is unfavorable for risk assets;

3: The recent rise in Bitcoin may stem from unnatural buying by retail investors in traditional finance, combined with an increase in imitators, which may suggest a risk of strategy failure.

Eugene admitted that he failed to turn bullish in time after BTC broke above $90,000, reflecting his "defensive" trading mentality over the past year, which he is now trying to adjust.

He believes that most crypto-native traders in the current market still favor short-term strategies, and this defensive mode may soon be surpassed by "those willing to take risks." He stated that the key still lies in whether BTC can truly break through its previous highs or whether it will constitute "the biggest bull trap in history." $BNB