Trader Eugene Ng Ah Sio Closes ETH Long Position Despite Bullish Market Structure

August 5, 2025 — According to BlockBeats, prominent trader Eugene Ng Ah Sio has announced the closure of his long position on Ethereum (ETH) via his personal channel. The move comes just days after Eugene shared a bullish outlook on ETH, noting that market optimism for August might have arrived prematurely.

On August 2, Eugene had identified $3,500 as a reasonable long entry for ETH, with a stop-loss set at $3,400, alongside a $113,000 entry point for Bitcoin (BTC) and a stop-loss at $112,000. Despite his recent exit, Eugene emphasized that the market retains strong structural buying interest, suggesting that traders should avoid turning overly bearish too soon.

He also noted a possible cooling in hype around data availability technology (DAT) but maintained that this does not undermine the broader bullish undercurrent in the crypto market.#BinanceHODLerPROVE #BinanceHODLerTOWNS #ProjectCrypto #FedGovernorVacancy #MarketRebound