TechFlow News: On June 7, trader Eugene posted on his personal channel stating that he has largely exited the cryptocurrency market since May 13 and is now focusing primarily on equity market research. In the short term, he will only monitor developments in the crypto industry without engaging in actual trading. He added that unless an opportunity with an exceptionally high risk-reward ratio emerges, he has no plans to re-enter the crypto market—and such conditions are not currently visible.
Regarding Strategy, Eugene believes its risks have only just begun to surface; even selling more Bitcoin recently would merely delay the issue. Until the strong correlation between Strategy and Bitcoin is broken, he remains bearish on Bitcoin long positions and will no longer attempt “catching a falling knife”-style bottom-fishing.
