Trader Eugene: Crypto Market Shows Signs of Weakness, Major Coins May Lose Key Levels
ChainCatcher reported that trader Eugene, referencing a tweet from trader Ansem, stated that there are multiple signs in the recent crypto market indicating an overall weakening trend. He mentioned that after exiting and re-entering the market over the past two weeks, he expected a rebound following the largest liquidation of the year, but positions have continued to decline, which shows a lack of marginal buyers. In his view, the crypto market is gradually decoupling from broader risk assets and may soon fall below key levels such as BTC 100,000, ETH 3,400, and SOL 160.
Ansem also distinguished between two types of large-scale long liquidations: one occurs during a bull market, where spot buying pushes prices to quickly reverse and reach new highs after leverage is cleared; the other reflects an exhaustion of buying power, signaling the end of a trend.
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