Ethereum Hits ETH/BTC 0.04 as Trader Eugene Ng Declares Bull Market “Endgame” and Shifts to Capital Preservation, Eyes mNAV

Trader Eugene Ng Ah Sio told his channel on Aug. 24 via COINOTAG News that the market appears to be entering the endgame of the bull market that began in January 2023. He indicated the phase may last only a few months as marginal global buyers increasingly pivot toward buying crypto, and noted that both Bitcoin and Ethereum have reached elevated highs. Ng reported his high target for the ETH/BTC ratio of 0.04 was achieved, prompting a strategic shift from aggressive Martingale momentum trades to a focus on capital preservation. He said he still retains selective long exposure but has materially reduced net positions and will monitor the mNAV indicator to time any substantive re-entry, anticipating sector valuations may compress versus mNAV as the cycle resolves.

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