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On July 22, trader EugeneNgAhSio posted on his personal channel that he has exited most of his long positions. Ethereum has risen from $2,500 to $3,800, and seeing such a rally within two weeks is already the best outcome I could have hoped for. ETHBTC also just reached my mid-term target of 0.03, which means the entire trading logic has played out almost perfectly. Now, I am choosing to lock in profits and prepare for the next opportunity.

According to Odaily Planet Daily, trader Eugene stated in a post that he has largely closed out his previous ETH long positions established at $2,500, as the current price level of $3,800 represents the best performance that could be expected within the past two weeks.He noted that the market has quickly shifted from being “under-positioned” to “overcrowded,” with institutional buying surging significantly in recent days, and the ETH/BTC ratio has already reached his mid-term target of 0.03. He mentioned that he is not adept at chasing breakouts, so he chose to take profits and exit, anticipating that a liquidation-driven pullback may occur in the short term, which could provide an opportunity to re-enter in the next round. Eugene emphasized that this is his personal opinion and does not constitute investment advice.