Top Trader Eugene Ng Ah Sio Increases Long Position on ETH Amid Anticipation of Bitcoin Breaking $86,000

In a recent update from the renowned trader Eugene Ng Ah Sio, it was disclosed that he has strategically bolstered his long position in Ethereum (ETH). According to his insights, pivotal resistance lies at $86,000 for Bitcoin (BTC). A successful breach of this threshold—without triggering a Stop Loss Hunt (SFP)—could catalyze a significant liquidation event among overleveraged short positions. Such a movement in the market would likely exacerbate bullish sentiment, further invigorating the trading environment, and possibly unleashing the collective ‘animal spirit’ among investors. This sentiment shift could lead to heightened volatility and an influx of capital into the cryptocurrency market as traders respond to changing dynamics.