Trader Eugene Ng Ah Sio recently shared insights on his personal channel, highlighting his decision to purchase Bitcoin at the current price of $75,000. This marks his first acquisition of spot BTC since liquidating his previous major positions in January. While Ng Ah Sio does not definitively claim that this is the market’s bottom, he expresses a belief that we are nearing a price level conducive to long-term accumulation of Bitcoin. He acknowledges the current market sentiment, noting an influx of pessimistic commentary, driven by panic among investors.
Despite these prevailing negative sentiments, Ng Ah Sio argues that the market typically does not experience prolonged declines. He believes today’s market behavior, especially in light of a 5% pre-market futures drop, signifies an opportunity worth capitalizing on. Should the trend continue downward, he plans to engage in short-term trading strategies focusing on BTC and SOL, while continuing to acquire additional Bitcoin at lower price points in preparation for future bullish trends.