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Eugene: This "alt season" may be the weakest in history, and we are adopting a defensive attitude towards the August market.
PANews July 30 news, renowned encryption trader Eugene (0xENAS) stated that he has exited most of his long positions and maintains a defensive stance. He pointed out that August has traditionally been a difficult month to predict, and this year the market may not be smooth sailing either. In addition, he mentioned that this "altcoin season" might be the weakest in history. Although the price of ETH has risen, it has not brought significant wealth effects. This indicates that institutional investors are the main buying force, and funds have not flowed back into the altcoin market. Therefore, he suggests continuing to focus on ETH investment.