ChainThink message, December 26: Trader Eugene Ng Ah Sio posted on his personal channel stating he has gone long on Bitcoin and several small-cap altcoins. With nearly everyone on holiday break and even major whales holding back from aggressive moves, the Bitcoin price failed to break below $84,000 effectively. Market volume has completely collapsed, leaving sellers thoroughly exhausted.

Just a few large buyers stepping in would easily rip through the thin order book. "The upside potential for long positions below $90k is quite compelling, with clear stop-loss levels. I'd rather test the waters here now than hesitate and be paralyzed at $95k or even $100k later. Additionally, historically, January tends to be a highly volatile month—I’m betting volatility will return in some form as December draws to a close."

On December 19, Eugene stated that most altcoins are nearing the end of their downtrend, though major coins may still have further downside ahead.