Trader Eugene: A rational view should remain bullish, but defensive thinking makes it difficult for me to turn.

BlockBeats News, on May 28, top trader Eugene Ng Ah Sio posted on his personal channel, "The past two months have been the hardest trading period that I have experienced – and many of the top traders I know. We are faced with an extremely challenging situation: on the one hand, there are good reasons to maintain a bearish or defensive stance, and on the other hand, the market is extremely volatile, frequently testing traders' beliefs, resulting in most people either being reaped repeatedly throughout the rally, or only on the sidelines." "From a fundamental point of view, the reasons why you should remain conservative include: the tariff situation is still materially impacting global growth, and the Trump administration lacks long-term clarity on how to deal with it; U.S. 10-year Treasury yields remain high, weighing on the outlook for risk assets; BTC unnatural (?) buying driven by retail optimism in traditional finance has pushed prices higher, with an influx of copycats suggesting that this strategy is about to peak. Add to that the most brutal altcoin crash in history in February and March, and it's understandable that the market has developed a defensive mindset. Personally, despite explicitly acknowledging that I should turn bullish and stay bullish when I break above $90,000, I still have a hard time sticking to this view." "I'm often reminded of Cobie's idea that instead of trying to win, make sure you don't lose – and that's been my dominant strategy this year. Now I'm actively taking steps to change that, and it's going to take a lot of energy. From market observations, it's clear that crypto-native traders haven't adopted this strategy yet, and most are still looking for opportunities, after all, it's the only way to survive the last crash. But the pendulum will eventually swing back, rewarding those who dare to take risks for bigger dreams (in fact, the process has already begun). Now all eyes are on BTC, and the price is hovering around all-time highs. Will we eventually break out to the upside, or will we run into the biggest bull trap I've ever seen?"