On August 6, top trader Eugene Ng Ah Sio shared some of his long-term views on market operations on social media, including: When there is a lot of uncertainty and weakness in the market, I usually don't want to go long actively. 2. I used to buy counterfeit products, but set a risk limit. After Bitcoin fell below $60,000, I gave up buying. I will not buy these counterfeit products in the foreseeable future. 3. This decline is the combined result of US election uncertainty + yen carry trade position squaring. But my biggest concern is a deep recession, as this usually triggers a deep stock market bear market, which cryptocurrencies have never experienced. 4. Despite the sharp decline in recent weeks, I still see considerable complacency in the market. 5. As always, I recommend making capital preservation a top priority in this situation.