According to BlockBeats news on October 12, trader Eugene Ng Ah Sio posted on his personal channel, stating, “Regarding Friday's event, many profound analyses have emerged. I'll briefly point out a few things: · The alts market has ended for the foreseeable future. The scale of wealth destruction this time, and the way it was executed, will leave a long-lasting imprint in the minds of participants. · Long and short strategies are not viable in the crypto market. These strategies may be effective in normal market conditions, but they often fail at the most critical moments. · Chain reactions (contagion) will occur, but the extent is yet to be determined. I hope there are no systemic major issues. · Goodbye, crypto treasury companies.”
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