Odaily News Trader Eugene wrote that he has gone long on ETH for the first time since early January. He pointed out that from a technical point of view, ETH's slow upward trend since early April is relatively clear, and ETH's structural short positions as the default short counterparty are already crowded. If BTC can break through $86,000, he expects the market to be active overall and to be reflected through ETH and other altcoins.
Eugene added that he always makes decisions based on imperfect information and often vacillates between opinions. In order to control risks, he has reduced the size of his positions to reduce the impact of misjudgments on profit and loss fluctuations.