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Trader Eugene: Has exited the crypto market and shifted to US stocks; will no longer attempt to "buy the dips" in Bitcoin.

According to Mars Finance, on June 7th, trader Eugene Ng Ah Sio posted on his personal channel that he has essentially withdrawn from the cryptocurrency market since May 13th and is shifting his focus to stock market research. He believes that the stock market is more attractive than the current crypto market in terms of research depth, cognitive challenges, and trading and investment opportunities. Based on his assessment of the industry's current state, he expects to maintain this strategy for the foreseeable future, continuing to monitor crypto industry developments without actively participating in trading. Eugene further stated that unless a highly attractive risk-reward opportunity emerges, he has no plans to return to the crypto market, and he has not yet seen such conditions. He believes that the trajectory of the crypto market is diminishing its appeal as a trading and investment arena, therefore he will continue to focus on the traditional stock market in the short term. Regarding Strategy, Eugene believes that the risks are only just beginning to emerge. He stated that even though Strategy has recently sold more Bitcoin, it only postpones the problem rather than truly resolving it. He is not optimistic about long positions in Bitcoin until the strong correlation between Strategy and Bitcoin is broken. He admitted that he could not determine the bottom of the market, but he no longer attempted to "catch a falling knife"buy the dips fishing.
Disclaimer: The views above are the author's only and do not represent 711BTC. Nothing here constitutes investment advice.

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07-08 18:27Important

Cryptocurrency stocks fell in pre-market trading; STRATEGY down 4.1%.

According to data from Odaily Odaily, cryptocurrency stocks fell in pre-market trading, following Bitcoin's more than 2% decline. COINBASE GLOBAL fell 3.5%, BIT DIGITAL declined 3.6%, and STRATEGY fell 4.1%. RIOT PLATFORMS fell 4.4%, HUT 8 CORP fell 4.9%, and MARA HOLDINGS fell 3.5%.

07-07 22:46Important

Bitcoin emerged as the "most resilient" asset tonight, while US chip stocks experienced a "stock market crash," and crypto stocks followed suit, with US stocks falling across the board.

According to BlockBeats data, on July 7th, US stocks opened lower and continued to decline on Tuesday. The Nasdaq 100 fell over 2%, the Philadelphia Semiconductor Index fell over 6%, SPCX fell 5.7%, MRVL fell 10.25%, Western Digital fell 11%, SanDisk fell 13.9%, Micron fell 8.8%, and Oracle fell 4%. Bitcoin only fell nearly 1% after the US stock market opened, a drop comparable to gold. However, US cryptocurrency stocks generally fell in tandem with the broader market, with SBET falling 5.2%, GEMI falling 6.12%, CRCL falling 5.35%, MSTR falling 3.3%, and COIN falling 4%.

07-08 13:09Important

Analysis: South Korean stocks have plummeted more than 20% from their peak and are poised to enter a technical bear market.

PANews reported on July 8th that, according to Jinshi, the South Korean stock market continued its decline, with the KOSPI index falling by more than 6% intraday, accumulating a drop of over 20% since its June peak, poised to enter a technical bear market. Samsung Electronics and SK Hynix fell by approximately 7% and 5% respectively, as investors reassess the prospects for AI demand. South Korea has been the world's best-performing stock market this year, but its over-reliance on two chipmakers makes it particularly vulnerable to shifts in industry sentiment. Leveraged ETFs amplified two-way volatility, further exacerbating market fluctuations. Despite Samsung Electronics' quarterly profit surging 19-fold this week, chip stocks continued their decline, highlighting that traders are demanding more evidence to justify the exorbitant investments across the entire supply chain. Fidelity International portfolio manager Ian Samson stated, "The current increased volatility stems largely from fundamental uncertainty."

07-07 20:48Important

US pre-market news at a glance: Samsung's earnings report triggered a collective weakness in semiconductor stocks in pre-market trading; SpaceX officially debuts on the Nasdaq 100 today.

According to BlockBeats, the following are key market news items before the US stock market opened on July 7th: 1. Samsung released its Q2 earnings forecast, showing an operating profit increase of over 1800% year-on-year, with single-quarter profits exceeding the total of the previous three years. Simultaneously, the company's revenue also increased by 129% year-on-year, reaching 171 trillion won. Affected by the semiconductor sell-off triggered by the "sell-off" of Samsung's earnings, chip-related technology stocks generally weakened in pre-market trading. The three major US stock futures indices showed mixed results in pre-market trading: Dow Jones futures rose 0.41%, Nasdaq 100 futures fell 0.9%, and S&P 500 futures fell 0.09%. 2. SpaceX officially debuted on the Nasdaq 100 before the US stock market opened today, with Wall Street institutions collectively bullish. Most institutions believe that SpaceX is no longer just a traditional aerospace company, but a platform company with the potential for rocket launches, Starlink satellite internet, AI infrastructure, and future space computing. 3. DeepSeek is secretly developing its own inference chip. If successful, this would reduce reliance on external suppliers and give it more cost-effective hardware control. However, the project is still in its early stages and faces manufacturing and memory acquisition restrictions due to US export controls. 4. UBS recommends investors buy SK Hynix's upcoming American Depositary Receipts (ADRs) and sell its South Korean shares, as these new shares are expected to trade at higher prices. 5. JPMorgan strategists say the recent weakness in semiconductor stocks should be seen as a buying opportunity, as the chip upcycle is not yet over, and truly meaningful new supply may not appear until 2028. 6. US ADP employment change for the week ending June 20 was 21,000, compared to 30,750 in the previous week. 7. BlackRock will launch an ETF tracking the tech-heavy Nasdaq 100 index, aiming to meet investors' growing demand for participation in the AI-driven stock market rally and challenge Invesco's dominant position. 8. Amazon is returning to the US bond market to raise funds for its artificial intelligence infrastructure. The company will issue eight benchmark bonds with maturities ranging from 3 to 40 years, raising at least $25 billion in the dollar bond offering. 9. Global brokerages have begun coverage research on Elon Musk's SpaceX (SPCX.O), and a preliminary consensus has formed on Wall Street: buy the stock. At least six brokerages, including Morgan Stanley, Goldman Sachs, and UBS, have given it a buy rating, optimistic about its long-term growth prospects, although doubts remain about profitability and valuation.

07-06 23:54

US-listed crypto stocks generally rose, with BitMine surging over 8%.

According to Mars Finance, on July 6th, based on BIT (bit.com) market data, cryptocurrency stocks in the US market generally rose during trading. BitMine (BMNR) rose 8.25%, Circle (CRCL) rose 7.18%, MARA rose 6.21%, Sharplink (SBET) rose 5.93%, Robinhood (HOOD) rose 4.48%, and Bullish (BLSH) rose 2.76%.

07-08 19:39Important

South Korean beauty and retail stocks led the market gains, and Gate.com continues to expand its investment portfolio in South Korean stocks.

According to ChainCatcher, Gate's market data shows that the South Korean stock market was active today. Manyo Factory, a cosmetics stock, reached $11.60, up 18.43%; Heung Koo Petroleum reached $6.88, up 14.72%; and IT'S HANBUL reached $7.25, up 13.51%, with several popular South Korean stocks leading the market gains. Gate has established a 24/7 trading service system covering the three core markets of US, Hong Kong, and South Korea, supporting over 10,000 US stocks and ETFs, over 1,500 Hong Kong stocks, and over 1,000 South Korean stocks, totaling over 12,500 stocks and ETFs globally. Users can participate in global stock investment through their Gate unified account using USDT, supporting fractional share transactions starting from as low as 0.01 shares, and enjoying stock dividend rights. The platform also supports cross-brokerage transfers for US and Hong Kong stocks, as well as corporate actions such as stock splits and consolidations, further optimizing the stock investment service experience.