Trader Eugene: If Bitcoin doesn't hit a new high, altcoins may slowly decline and haven't hit bottom yet

According to BlockBeats news, on June 17th, top trader Eugene Ng Ah Sio posted on his personal channel that "after Bitcoin was repeatedly rejected by the $110000 resistance level, the market is basically oscillating in the $100000 to $110000 range, and altcoins are also showing signs of consolidation and stagnation. If Bitcoin does not reach a new high, I expect Total3 (total market value excluding BTC and ETH) to slowly decline, as market positions are gradually being reduced and unlocking pressure continues to affect prices. The current market still has high trading difficulty, and I have adjusted my strategy to significantly reduce trading frequency, focusing only on high-risk return ratio opportunities. This means that stop loss must be very strict and one must never chase after the rising sentiment coins. The area of altcoins that I am currently focusing on has not yet approached the value zone that I believe, so the spot position remains relatively light, and most operations are still focused on short-term strategies