According to BlockBeats, trader Eugene Ng Ah Sio recently shared insights on his personal channel, expressing concerns about the current state of the cryptocurrency market. Ng Ah Sio has been contemplating Ansem's views and believes there are multiple indicators suggesting overall market fatigue.
After taking a two-week break from trading, Ng Ah Sio returned to the market to capitalize on what he anticipated to be the year's largest liquidation event. However, he found his positions continuing to incur losses, which he considers a significant warning sign. Typically, 80% of such liquidation events should yield profits after some degree of recovery, but in 20% of cases, they do not, highlighting a scarcity of marginal buyers in the market.
Ng Ah Sio suspects that the crypto market may further decouple from broader risk appetite markets and could soon lose critical support levels for mainstream assets. He is currently monitoring key levels, including Bitcoin at $100,000, Ethereum at $3,400, and Solana at $160.
