Trader Eugene: The crypto market is overall sluggish, with major cryptocurrencies possibly breaking below key support levels

BlockBeats News, September 24th, trader Eugene Ng Ah Sio stated on his personal channel, "I have been thinking about Ansem's viewpoint recently. I believe there are several signs indicating that the overall cryptocurrency market is in a fatigue state.

Being away from the market for the past two weeks has kept my mind clear, and when the market faced this year's largest liquidation amount, I returned to the market to buy the dip, only to find that my position was further in loss. This was a serious warning signal for me. In 80% of cases, these liquidation buy-the-dip opportunities should have been profitable after some degree of rebound, but in 20% of cases, there was no profit, exposing the fact that there are few marginal buyers left in the market.

I suspect that we will continue to decouple from the broader risk-on market and soon begin to break the key support levels of mainstream cryptocurrencies. The key levels currently being watched are: BTC $100,000, ETH $3,400, SOL $160."