Top Trader Warns of Market Volatility, Cautions on BTC Surge

Top trader Eugene Ng Ah Sio recently shared his thoughts on the current market conditions, highlighting the challenges faced by traders in the past two months. He noted that the market's volatility has been testing traders' convictions, leading many to either miss out on the uptrend or be repeatedly harvested.

From a fundamental perspective, Ng cited several reasons for maintaining a cautious stance. These include the ongoing impact of tariffs on global economic growth, the lack of long-term clarity in the Trump administration's approach, and the high U.S. 10-year Treasury yield, which suppresses the outlook for risk assets. Additionally, the recent surge in BTC prices, driven by optimism from traditional financial retail investors, has artificially boosted prices, with imitators emerging, suggesting that this strategy is about to peak. The brutal altcoin crash experienced in February and March further supports a defensive mindset in the market.

Despite these challenges, Ng acknowledged that a bullish view should be adopted and maintained upon breaking 90,000 USD. However, he admitted that his defensive thinking is making it hard for him to pivot to a bullish stance. He often thinks of Cobie's perspective, which emphasizes not losing first, and has become his dominant strategy this year. Ng is actively taking steps to change this state, which requires a lot of energy.

Observing the market, Ng noted that native cryptocurrency traders have not yet adopted this strategy, and most people are still looking for opportunities. He believes that the pendulum will swing back eventually, rewarding those who dare to take risks for a bigger dream. This process, he noted, has already begun. Currently, everyone's attention is focused on BTC, with the price hovering near its all-time high. Ng questioned whether the market will eventually break out to the upside or encounter the biggest bull trap he has ever seen.