Trader Eugene: Multiple indicators suggest the market may have bottomed out; if BTC breaks through $80,000, it could trigger a new uptrend for altcoins.
Svmuu News: Crypto trader Eugene posted on his personal channel, stating that as Bitcoin hovers around the $80,000 mark, multiple market charts have already shown signs of a "bottoming out." He predicts that the real market movement will begin within the next week or so, potentially pushing a large number of altcoins to break out of their current consolidation ranges. From the perspective of overall trading volume and Open Interest (OI) levels, most tokens currently require only marginal buying pressure to drive prices higher, indicating that the market remains in an "under-positioned" state. He believes that the key at this point is whether BTC can effectively break through the $80,000 level and drive major tokens like ETH, SOL, and HYPE to start a new upward trend simultaneously. Eugene also expressed hope that the market will not encounter resistance to a pullback at its current position.
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Source:Odaily · Source Link
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