Popular trader Eugene says he has largely stepped away from the crypto market and shifted his attention to U.S. stocks.
Once known for his bullish crypto views, Eugene now believes the market lacks attractive risk-reward opportunities. While he still follows the industry, he says he won’t return until he sees a setup that clearly offers better upside than stocks.
For now, he thinks that opportunity is nowhere in sight.
According to Eugene, the stock market currently offers more opportunities for research, investment ideas, and long-term returns.
He says stocks provide clearer narratives and stronger conviction trades, while crypto has become increasingly difficult to navigate. Rather than forcing trades in a market he doesn’t find attractive, he has decided to focus his capital elsewhere.
His comments come at a time when many crypto investors are questioning where the next major catalyst for the market will come from.
A major reason behind Eugene’s bearish stance is Strategy’s relationship with Bitcoin.
Recently, Strategy sold 32 BTC as part of a previously discussed plan to fund investor dividends. While the sale itself was small compared to the company’s massive treasury of more than 843,000 BTC, the move coincided with a broader market correction that pushed Bitcoin down to around $59,500 and triggered billions of dollars in liquidations across crypto derivatives markets.
At the same time, U.S. spot Bitcoin ETFs recorded more than $4 billion in outflows over recent weeks, adding further pressure to the market.
Eugene believes these developments highlight a larger issue. In his view, Strategy’s growing influence on Bitcoin has created risks that investors may be underestimating.
Because of Bitcoin’s strong connection to Strategy, Eugene says he has no interest in buying BTC at current levels.
According to him, the relationship between the company and Bitcoin has become too significant to ignore. Until that link weakens, he does not see Bitcoin as an attractive long-term trade.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Seoul woke up to a nightmare on Monday morning. South Korea's KOSPI index collapsed 5.54%…
Japan's Nikkei 225 dropped 4.2% in a broad market selloff that spread across Asia, with…
A warning sign from Japan is flashing again. The USD/JPY exchange rate has climbed back…
JPMorgan has turned more cautious on digital assets, citing concerns over how Strategy plans to…
DASH is back in focus after a sharp rebound from a critical support level revived…
June 8, 2026 06:48:09 UTC What Drove Monday's Market Selloff Three forces converged to push…
