Eugene: The Altcoin Market Is Over, Say Goodbye to Crypto Treasury Firms

BlockBeats News, October 12, trader Eugene Ng Ah Sio posted on his personal channel, stating: · The altcoin market is effectively over for the foreseeable future. The scale of wealth destruction this time, along with the manner in which it was executed, will leave a lasting imprint on participants' minds. · Long-short strategies are not viable in the crypto market. These strategies may work in normal market conditions but often fail at critical moments. · Contagion will occur, but the extent remains uncertain. I hope no systemic issues arise. · Goodbye, crypto treasury firms.