Trader Eugene: This "altcoin season" may be the weakest in history, suggesting continued focus on ETH investment

According to ChainCatcher, crypto trader Eugene stated in his personal TG channel that he has exited most of his long positions and is maintaining a defensive stance. He noted that August has historically been a difficult month to predict, and this year’s market is unlikely to be smooth sailing.

Additionally, he mentioned that this “altcoin season” may be the weakest in history. Although ETH prices have risen, there has not been a significant wealth effect. This suggests that institutional investors are the main buying force, and capital has not flowed back into the altcoin market. Therefore, he recommends continuing to focus on ETH investments.