Top Trader Eugene: TradFi Money Inflows But Doesn't Buy Torrents, Excessive FOMO Will Lead to Profit Retraction
On October 31st, top trader Eugene posted on the X platform that last month's price action really demonstrated the level of PvP in the current cryptocurrency environment. A poll was done earlier and it showed that the distribution of winners and losers over the month was almost exactly 50/50, indicating that while money from traditional finance is flowing in to buy Bitcoin, no one is buying our torrents yet. The concept of unforced error dominates performance in this general environment. Yes, there are places where you can make money (like GOAT and early AI Meme), but you are just as prone to giving all your profits back to the market due to later panic chasing. If you're reflecting on your performance this month, consider how many unforced errors you made. I suspect those who made fewer mistakes did well, but those who lacked discipline and didn't stick to a good layout ended up giving all their profits back to the market.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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