Eugene Ng Ah Sio Reduces Long Position Amid Market Sell-Off

Trader Eugene Ng Ah Sio has decided to cut his long position following a recent market sell-off. On February 1st, Ng expressed his sentiment on his personal channel, indicating a need to “step back” after feeling “taken for a ride” by the market’s movements.

Previously, on January 30th, Ng had communicated a more optimistic outlook, having redeployed a significant position, citing favorable risk-reward conditions for going long. He had set a clear stop-loss below $80,000, expressing confidence that crypto assets would not underperform other risk assets in the long term. However, the recent market declines have prompted a reassessment of his strategy.