Trader Eugene: Most long positions have been closed, and low-risk exposure will be maintained before the White House crypto summit

ChainCatcher message, trader Eugene Ng Ah Sio posted: "I was heavily long before Trump made the announcement, but I have now closed most of my long positions. When BTC was at $80,000 and SOL at $130, the risk-reward ratio was extremely favorable for longs, but now I believe it is relatively neutral.

Currently, late-entry shorts and longs will be harvested, and only disciplined traders can remain profitable.

I have not yet determined whether this is a bullish reclaim of the range or a bearish downside retest; I will let the price action tell me, especially after March 7. There is a nearby time point that actually makes decision-making relatively simple—follow the market's strength or weakness after March 7. Therefore, before that, I will maintain a lighter overall risk exposure.

Personally, I do not believe Trump can include SOL / ADA / XRP in the strategic reserves and get it passed in Congress, but he has indeed shown the ability to get what he wants, so we shall see."