After the holiday, market trading is subdued, whales are watching, but some are starting to move at this time.

On December 26th, veteran trader Eugene Ng Ah Sio's latest views flooded social media. He candidly stated that he has begun building long positions in Bitcoin and some small-cap coins.

Why choose this moment? The reason is simple and hardcore — the market is currently in a typical holiday mode. Investors are scattered, trading volume has sharply shrunk, and the order book has become so thin that just a few large buy orders can push the price upward. This sounds risky, but from another perspective, it’s precisely the time when risk-reward asymmetry is at its greatest.

How exactly does he operate? Eugene’s approach is very clear. He is positioning below $90,000, setting stop-losses, with a target of $100,000. Bitcoin is currently showing resilience around $84,000, without effectively breaking down, which gives him a reason to enter. His logic is: rather than waiting until $95,000 or $100,000 and missing out due to hesitation, it’s better to test the waters now with controlled risk.

There’s also a detail worth noting. Eugene mentioned seasonal factors. Historically, January tends to be a month of increased volatility. In other words, the quietness in December might just be the calm before the storm. This aligns with his judgment from a week ago — he believed most altcoins were nearing the end of their decline.

So how should we interpret this move? The market has entered a liquidity drought due to the holiday. Once large funds enter, prices could be "surged" upward suddenly. Eugene’s move isn’t based on a strong bull market conviction but is simply taking advantage of favorable conditions given by market microstructure.

What are the key words? Risk control and stop-loss discipline. Without these two, any strategy is just guesswork. When the market is quiet, it’s often the window for the next wave of行情, but the prerequisite is that you survive to see that moment.