Crypto Bull Market Cycle Nears End, Says Trader Eugene Ng Ah Sio

According to BlockBeats, trader Eugene Ng Ah Sio recently shared insights on his personal channel, suggesting that the current bull market cycle, which began in January 2023, is approaching its conclusion. He anticipates this phase will not last more than a few months, as global buyers have largely turned to cryptocurrencies, with Bitcoin and Ethereum reaching all-time highs. Ng Ah Sio noted that his target for the Ethereum/Bitcoin exchange rate at 0.04 has been achieved, indicating the end of his trading activities in Ethereum. He plans to shift his strategy from aggressive trading to capital preservation, moving away from large-scale momentum trades. While he acknowledges the possibility of missing out on potential market surges, he emphasizes that such volatility no longer aligns with his trading system. Despite reducing his net position size significantly, Ng Ah Sio clarified that he has not liquidated all his holdings or taken a short position, as he still maintains a long position. He intends to use the mNAV indicator from the crypto treasury reserve company as a signal for when to re-enter the market strongly. He predicts that by the end of this cycle, most DATs will trade below one times mNAV. Reflecting on the recent market performance, Ng Ah Sio expressed that it is time to return to reality after experiencing favorable market conditions.