On January 2, trader Eugene Ng Ah Sio shared on his personal channel that altcoins are shaping the market’s future trajectory. As previously reported, Eugene has taken long positions in Bitcoin and select small-cap altcoins. Right now, nearly everyone is on holiday — even “whales” are sitting on the sidelines and not biting. Bitcoin has failed to break below $84k, while overall market trading volume has dried up and sellers are largely tapped out. A handful of large buyers entering the market would easily overwhelm the thin order book. “Going long below $90k carries strong upside potential with a clear stop-loss level. I’d rather take a shot here now than hesitate at $95k or even $100k. Plus, historically, January tends to be a high-volatility month. I expect volatility to pick back up in some capacity once December wraps up.”
