According to BlockBeats, trader Eugene Ng Ah Sio announced on his personal channel that he has closed his long position on Ethereum (ETH). Earlier, on August 2, Eugene had expressed optimism about ETH, stating that the market's bullish sentiment for August was prematurely embraced. He identified $113,000 for Bitcoin (BTC) and $3,500 for ETH as reasonable entry points, with stop-loss levels set below $112,000 and $3,400, respectively. Despite the potential decline in hype surrounding data availability technology (DAT), Eugene noted that the market still exhibits substantial structural buying interest, advising against a hasty shift to a bearish outlook.

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