Trader Eugene: I have once again gone long on ETH, not advisable to quickly switch to a short position

By: theblockbeats.news|2025/08/02 16:12:22

0

Share

copy

BlockBeats News, August 2nd, Trader Eugene Ng Ah Sio posted on his personal channel stating that he has once again gone long on ETH. The bullish sentiment in August was prematurely hyped by the market, but $113,000 BTC and $3,500 ETH are still reasonable entry positions, with stop-loss set below $112,000 and $3,400 respectively.

Although the hype around Data Availability Technology (DAT) may gradually fade, there is still substantial structural buying interest in the current market, so it is not advisable to switch to a bearish outlook too quickly. Many have been jumping back and forth between "bull market return" and "total collapse," yet fail to realize that the market does not follow a simple binary path.

-- Price

You may also like

Firecrew: Elevating Trader Skill and Amplifying the WEEX AI Trading Hackathon

Firecrew: Elevating Trader Skill and Amplifying the WEEX AI Trading Hackathon

A trading education and community platform helping individuals build disciplined strategies and risk control that pair with AI-driven innovation.

CrazyLiveDAO: Building an AI Trading Education DAO in Step with the WEEX AI Trading Hackathon

CrazyLiveDAO: Building an AI Trading Education DAO in Step with the WEEX AI Trading Hackathon

A Solana-based DAO and membership community combining AI agents, live trading education, and Web3 tools for global Chinese investors.

Mome: Blending AI, Memes, and Creator-First Tokens, and Driving the WEEX AI Trading Hackathon

Mome: Blending AI, Memes, and Creator-First Tokens, and Driving the WEEX AI Trading Hackathon

An AI-driven BNB Chain platform that lets creators launch meme tokens powered by viral video content and community ownership.

Matchain: Building AI-Powered Identity and Empowering the Weex AI Trading Hackathon

Matchain: Building AI-Powered Identity and Empowering the Weex AI Trading Hackathon

An AI-native Layer 2 that brings user-owned identity, data, and agents onchain for the next wave of trading innovation.

Cryptoracle: Decoding Market Behavior and Fueling the WEEX AI Trading Hackathon

Cryptoracle: Decoding Market Behavior and Fueling the WEEX AI Trading Hackathon

An AI-native data and analytics platform turning crypto community behavior into actionable trading intelligence.

EveryX: Powering Outcome Trading and Championing the WEEX AI Trading Hackathon

EveryX: Powering Outcome Trading and Championing the WEEX AI Trading Hackathon

A next‑generation prediction market where traders speculate on real‑world outcomes with crypto‑settled, PVP markets and AI‑driven insights.

Chainbase: Powering Onchain Data Infrastructure and Amplifying the WEEX AI Trading Hackathon

Chainbase: Powering Onchain Data Infrastructure and Amplifying the WEEX AI Trading Hackathon

Chainbase provides enterprise-grade onchain data infrastructure, supporting innovative AI-driven trading at the WEEX AI trading hackathon.

Quick Overview of Alliance ALL16 Demo Day: 18 New Projects Featuring Emerging Trends in Prediction Markets and AI Applications

Quick Overview of Alliance ALL16 Demo Day: 18 New Projects Featuring Emerging Trends in Prediction Markets and AI Applications

ALL17 application deadline is March 25.

The Ethereum Foundation launches "Hardness," a dedicated team to safeguard the decentralized baseline

The Ethereum Foundation launches "Hardness," a dedicated team to safeguard the decentralized baseline

Hardness is a protocol-level commitment to the core attributes of Ethereum, including censorship resistance, privacy, security, and permissionlessness.

Morning News | Boya Interactive plans to invest no more than $70 million to purchase cryptocurrency; WeChat launches official lobster plugin; Bitcoin mining difficulty decreased by 7.76% to 133.79 T

Morning News | Boya Interactive plans to invest no more than $70 million to purchase cryptocurrency; WeChat launches official lobster plugin; Bitcoin mining difficulty decreased by 7.76% to 133.79 T

Overview of Important Market Events on March 22

The competition for stablecoin yields, how has it stalled U.S. cryptocurrency regulatory legislation?

The competition for stablecoin yields, how has it stalled U.S. cryptocurrency regulatory legislation?

Congress has only a few weeks left to seek bank support for the CLARITY Act, or it may shelve the legislation due to the midterm elections.

This Week's News Preview | The joint cryptocurrency regulatory guidance document from the U.S. SEC and CFTC officially takes effect; Polymarket announces major news

This Week's News Preview | The joint cryptocurrency regulatory guidance document from the U.S. SEC and CFTC officially takes effect; Polymarket announces major news

Highlights of the week from March 23 to March 29.

What characteristics do the projects delisted by mainstream exchanges have?

What characteristics do the projects delisted by mainstream exchanges have?

Mainstream exchanges are, on one hand, massively delisting coins, and on the other hand, massively listing tokenized stock assets. Essentially, this is a supply-side reform aimed at "bad money." The quality of the asset targets and the compliance of the platforms will become the focus of competition...

Before the $75,000 Gamma level, both bulls and bears are waiting for a signal

Before the $75,000 Gamma level, both bulls and bears are waiting for a signal

The selling pressure is being digested, and the belief is still on the way.

Business Opportunities of Tokenized Stocks

Business Opportunities of Tokenized Stocks

In this article, we will outline the lifecycle of tokenized stocks, analyze the current market landscape, and highlight the emerging business opportunities.

In-depth research report on the Resolv protocol hacking incident, who is the final payer?

In-depth research report on the Resolv protocol hacking incident, who is the final payer?

This incident reveals a fundamental weakness in Delta's stablecoin - the coupling point between the minting logic and off-chain signatures/oracles is the most vulnerable attack surface of the system. Any capital efficiency design of "1 dollar minted for 1 dollar" must be predicated on extremely rigo...

Crypto Market Sees Large Liquidations: $272 Million in Long Positions Affected

Crypto Market Sees Large Liquidations: $272 Million in Long Positions Affected

Key Takeaways In the last 24 hours, $272 million worth of contracts were liquidated across the entire crypto…

Whale Increases BTC Shorts and Bets on Crude Oil: A Strategic Crypto Move

Whale Increases BTC Shorts and Bets on Crude Oil: A Strategic Crypto Move

Key Takeaways A prominent whale, known as “UnRektCapital,” has strategically escalated its short position in Bitcoin while simultaneously…

Firecrew: Elevating Trader Skill and Amplifying the WEEX AI Trading Hackathon

A trading education and community platform helping individuals build disciplined strategies and risk control that pair with AI-driven innovation.

CrazyLiveDAO: Building an AI Trading Education DAO in Step with the WEEX AI Trading Hackathon

A Solana-based DAO and membership community combining AI agents, live trading education, and Web3 tools for global Chinese investors.

Mome: Blending AI, Memes, and Creator-First Tokens, and Driving the WEEX AI Trading Hackathon

An AI-driven BNB Chain platform that lets creators launch meme tokens powered by viral video content and community ownership.

Matchain: Building AI-Powered Identity and Empowering the Weex AI Trading Hackathon

An AI-native Layer 2 that brings user-owned identity, data, and agents onchain for the next wave of trading innovation.

Cryptoracle: Decoding Market Behavior and Fueling the WEEX AI Trading Hackathon

An AI-native data and analytics platform turning crypto community behavior into actionable trading intelligence.

EveryX: Powering Outcome Trading and Championing the WEEX AI Trading Hackathon

A next‑generation prediction market where traders speculate on real‑world outcomes with crypto‑settled, PVP markets and AI‑driven insights.

Popular coins

Latest Crypto News

09:42

Data: Brother Ma Ji's ETH long position has been completely liquidated again, with a total loss exceeding 30.35 million USD

According to Onchain Lens monitoring, Machi Big Brother's (@machibigbrother) ETH 25x leveraged long position was completely liquidated again, shortly after which he opened a new ETH 25x leveraged long position.Currently, his wallet balance is only $32,000, and the total loss has exceeded $30.35 mill...

09:42

Fidelity calls on the U.S. SEC to establish a new framework allowing brokers to trade crypto assets through ATS

Fidelity, in a letter to the SEC, suggested establishing a regulatory framework that allows broker-dealers to trade crypto assets through alternative trading systems (ATS).The proposal aims to promote the inclusion of crypto asset trading into the existing financial system, enhancing market complian...

09:42

An executive from the Bank for International Settlements who is skeptical about stablecoins will become the governor of the Bank of Korea

South Korean President Lee Jae-myung nominated Shin Hung-song, the head of the Monetary and Economic Department of the Bank for International Settlements (BIS), to serve as the governor of the Bank of Korea. Shin Hung-song stated last year that the issuance of a Korean won stablecoin is "an effectiv...

09:42

Analysis: Ethereum is at a critical moment of success or failure in a high-risk balancing strategy

According to CoinDesk analysis, as the pressures from scalability challenges, quantum technology, and artificial intelligence continue to grow, Ethereum is at a critical juncture in high-risk balancing strategies. In the first three months of 2026, the Ethereum ecosystem faces multiple structural pr...

09:42

Data: Sky Alliance has opened a 20x leveraged long position in gold and is gradually closing its SP500 short position

According to Onchain Lens monitoring, Sky founder Rune (@RuneKek) opened a new long position in gold during the decline in gold prices, with a leverage of 20 times. Meanwhile, Rune is closing his SP500 short position and currently still holds TWAP buy and sell orders.