Top trader Eugene: Bitcoin's performance exceeds expectations, and altcoins are far more sensitive to election results than Bitcoin

Top trader Eugene updated his market views on his social media platform, stating, "The recent sharp rise in Bitcoin is surprising. The initial expectation was that BTC would be between 60-65k, and any deviation would be a good time to go long/short. Given the current high amount of unsettled contracts for BTC, I am very concerned about how sensitive it is to a downward trend, especially close to election time.

In addition, after experiencing a very good rebound, altcoins have shown some weakness but this weakness is only relative to BTC. I expect that as the market waits for the election results there will be more dispersion. I believe TOTAL3 (the total market value of all cryptocurrencies excluding Bitcoin and Ethereum) has significantly higher sensitivity to the election results than BTC.

I'm taking measures to prevent further chaos which I anticipate happening within the next two weeks because people will determine their positions before November 5th and make one last attempt at PvP with each other before the results come out."