Trader Eugene: Multiple indicators suggest the market may have bottomed; if BTC breaks $80,000, it could trigger a new rally for altcoins

According to Odaily, crypto trader Eugene stated on his personal channel that as Bitcoin hovers around $80,000, multiple market charts are already showing signs of “bottoming out.” He expects the real market uptrend phase to kick off within the next week or so, which could drive many altcoins to break out of their current consolidation ranges. Judging from overall trading volume and open interest (OI) levels, most tokens at present require only a small amount of marginal buying to push prices upward, so the market as a whole remains “under-allocated.” He believes the key is whether BTC can effectively break above the $80,000 threshold and lead ETH, SOL, and HYPE, among other major tokens, into a new upward trend. Eugene also expressed hope that the market won’t encounter resistance and retrace from the current position.