Trader Eugene: Admitting I should be bullish and stay bullish, but defensive thinking is making it hard for me to pivot

BlockBeats News, May 28th, top trader Eugene Ng Ah Sio stated in his personal channel, "The past two months have been the most challenging trading period for me — and for many top traders I know as well. We are facing an extremely challenging situation: on one hand, there are ample reasons to maintain a bearish or defensive stance, and on the other hand, the market is extremely volatile, frequently testing traders' convictions, causing most people to either be repeatedly harvested throughout the entire uptrend or to only be able to watch from the sidelines."

“From a fundamental perspective, reasons to remain cautious include: the tariff situation continues to substantially impact global economic growth, and the Trump administration's approach lacks long-term clarity; the U.S. 10-year Treasury yield remains high, suppressing the outlook for risk assets; the BTC price surge driven by optimism from traditional financial retail investors has artificially (?) boosted the price, with imitators emerging suggesting that this strategy is about to peak. Additionally, the brutal altcoin crash experienced in February and March implies a defensive mindset in the market is completely understandable. Personally, although I clearly admit that a bullish view should be adopted and maintained upon breaking 90,000 USD, I still find it difficult to hold this view.”

“I often think of Cobie's perspective: rather than thinking about winning, it is better to ensure not losing first — this has become my dominant strategy this year. I am actively taking steps to change this state, which requires a lot of energy. From observing the market, it is clear that native cryptocurrency traders have not yet adopted this strategy, and most people are still looking for opportunities, after all, this is the only way to survive the last crash. However, the pendulum will swing back eventually, rewarding those who dare to take risks for a bigger dream (in fact, this process has already begun). Now everyone's attention is focused on BTC, with the price hovering near its all-time high. Will we eventually break out to the upside, or will we encounter the biggest bull trap I have ever seen?”