Mars Finance news, trader Eugene Ng Ah Sio posted on his personal channel stating that it seems we are at the end of the bull market cycle that began 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 to some extent, with Bitcoin and Ethereum both reaching historical highs now. The high target I set for the Ethereum/Bitcoin exchange rate at 0.04 has also been achieved, which means to me that ETH trading has essentially concluded. I will no longer adopt an offensive strategy—no longer engaging in large Martingale momentum trading, shifting the strategy focus from capital accumulation to capital preservation. I may very well miss out on any subsequent crazy market movements, but that's okay because these fluctuations do not fit my trading system. This does not mean I have cleared all positions and shorted (on the contrary, I still hold long positions), but the net position size has been significantly reduced. I will use the mNAV indicator from the crypto treasury reserve company as a signal for when to strongly return to the market, expecting that when this cycle completely ends, most DAT trading prices will be below 1x mNAV. We have experienced a good market, and now it's time to return to real life.

#BTC #ETH