Key Takeaways:

  • Trader Eugene Ng Ah Sio identifies $74,000-$76,000 as Bitcoin’s key support zone.

  • Believes MicroStrategy’s Michael Saylor holding BTC is crucial for price stability.

  • Suggests $52,000 could hold unless Saylor sells; $25,000 would be a re-entry point.

  • Removes Ethereum (ETH) from his investable portfolio.

Bitcoin Support Levels & Market Sentiment

According to Odaily, trader Eugene Ng Ah Sio shared his Bitcoin price outlook in a Telegram group, highlighting potential support zones amid recent market volatility.

Potential BTC Support Zones

  • $74,000 - $76,000: Expected to serve as strong support in the current cycle.

  • $52,000: Holds if MicroStrategy’s Michael Saylor continues to hold BTC.

  • $25,000: Becomes a key re-entry point if Saylor is forced to sell.

Ng Ah Sio’s analysis underscores the significant influence of institutional Bitcoin holders like Saylor’s MicroStrategy, which has amassed over 200,000 BTC.

Ethereum Removed from Portfolio

Ng Ah Sio also confirmed he has completely removed Ethereum (ETH) from his investment portfolio, signaling a bearish stance on the second-largest cryptocurrency.

Possible Reasons for His ETH Exit:

  • Weak ETH/BTC ratio, underperforming BTC.

  • Concerns over Ethereum’s scaling, staking returns, or DeFi reliance.

  • Preference for Bitcoin’s long-term fundamentals.

What’s Next for Bitcoin?

Scenarios Based on Market Moves:

  1. BTC Holds Above $74K: Could confirm a strong support floor before another rally.

  2. BTC Drops to $52K: MicroStrategy’s BTC holdings become a key factor in market sentiment.

  3. BTC Crashes to $25K: Would signal a deeper correction, possibly due to forced selling.

#BTC #ETH