Cryptocurrency analyst Eugene has recently closed the majority of his long positions that were established prior to significant news involving U.S. President Donald Trump. He asserts that although a potential rise in Bitcoin to $80,000 and in Solana to $130 could bolster long positions, the current market sentiment has shifted to a neutral stance.
As such, Eugene foresees both long and short traders facing potential losses in the near term, with only those exercising caution likely to capitalize on market movements. Eugene's outlook on the market remains cautious, expressing doubts about whether a bullish recovery is on the horizon or if the market is poised for a bearish correction.
He has stated intentions to evaluate market trends after March 7, opting for lighter positions in the interim to effectively manage risk exposure. His skepticism extends to President Trump's capability to usher in legislation affecting cryptocurrencies such as Solana, Cardano, and Ripple in Congress.
However, he is not entirely dismissive of Trump's adeptness at achieving objectives, emphasizing the importance of monitoring future political developments closely. In a related context, Darryl Wang, co-founder of Tangent, has acknowledged that Eugene operates under an alternate account but has refuted claims of unethical practices including price manipulation or soliciting paid promotions.
This complex interplay between political news and cryptocurrency trading continues to unfold, prompting market participants to stay informed and adaptable..