TechFlow News: On January 30, trader Eugene stated that he has redeployed a reasonable-sized position. He believes the market’s recent consecutive setbacks have eliminated many steadfast longs, and market sentiment is exhibiting clear signs of frustration and capitulation; meanwhile, numerous participants are forecasting further price declines.
Eugene noted that the current risk-reward ratio for establishing long positions is quite favorable, with a clearly defined stop-loss level set below $80,000. He believes cryptocurrencies will not permanently underperform relative to other risk assets, and the current phase may mark the tail end of this underperformance cycle.
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