Eugene: The alts market has ended, say goodbye to the encryption treasury company.

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.”