PANews reported on June 7th that trader Eugene stated on his personal channel that he has recently largely withdrawn from the cryptocurrency market and will focus his main efforts on stock market research and trading. He believes that compared to the current cryptocurrency market, the stock market offers more investment opportunities and is more worthy of research and intellectual challenge. He will continue to maintain a wait-and-see approach to the cryptocurrency market until a highly attractive risk-reward opportunity emerges.

Regarding the future of Bitcoin, Eugene believes that the risks associated with Strategy (MSTR) and Michael Saylor may only be beginning to emerge. Even though Saylor has taken relevant measures, they are only postponing the solution, not truly eliminating the risk.

Eugene points out that Bitcoin does not have ideal conditions for going long until the strong correlation between MSTR and Bitcoin price is broken. He admits that he cannot determine the market bottom and says he will no longer attempt to "catch a falling knife" trades.