Eugene: Altcoins are guiding the future direction of the market

GateUser-6433627c · 2026-01-02T07:07:04+00:00

Eugene Ng Ah Sio believes that altcoins are leading the market trend, with Bitcoin currently supported at $84,000. Market trading volume is sluggish. He mentioned opportunities to go long on Bitcoin and small-cap altcoins, expecting volatility in January.

GateUser-6433627c

2026-01-02 07:07:04

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On January 2nd, trader Eugene Ng Ah Sio posted on his personal channel stating that altcoins are guiding the future direction of the market. Previously, Eugene mentioned that he has long positions in Bitcoin and some small-cap altcoins. Now, almost everyone is on holiday, even the “sharks” are observing and not biting, and the (Bitcoin) price has not effectively broken below $84,000. The entire market’s trading volume has collapsed, and sellers are already quite exhausted. As long as a few large buyers enter the market, the thin order book will be easily torn apart. “There is quite good upside potential for longs below $90,000, with clear stop-loss levels. I would rather test the waters now here than hesitate or be at a loss waiting for $95,000 or even $100,000.” Additionally, January has historically been a highly volatile month. I predict that as December ends, this volatility will return in some form.

BTC1.71%

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