According to ChainCatcher news, trader Eugene Ng Ah Sio posted in his personal channel that it seems we are at the end of the bull market cycle that started in January 2023 — I expect this phase will not last more than a few months, and every marginal buyer globally has turned to and purchased cryptocurrencies, with Bitcoin and Ethereum now both hitting historical highs. The high target rate of 0.04 for Ethereum/Bitcoin that I set for myself has also been achieved, which means to me that ETH trading has essentially come to an end.
No more aggressive strategies will be taken — no more large Martingale momentum trading, the strategy focus has shifted from capital accumulation to capital preservation. I will likely miss out on any subsequent crazy market trends, but that's okay because these fluctuations no longer fit my trading system.
This does not mean that I have cleared all positions and switched to short (on the contrary, I still hold long positions), but the net position size has been significantly reduced. I will use the mNAV metric of my crypto treasury reserve company as a signal for a strong return to the market, expecting that when this cycle fully ends, most DAT trading prices will be below 1 times mNAV.
We have experienced a good market; now it's time to return to real life.
