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Eugene: Multiple indicators suggest the market may have bottomed out; if BTC breaks above $80k, it could trigger a new upward trend in altcoins.
Mars Finance News: Crypto trader Eugene posted on his personal channel that as Bitcoin hovers around $80k, multiple market charts have shown signs of “bottoming out,” and the true market initiation phase is expected to begin in about a week, potentially driving a surge in many altcoins to break through the current consolidation range.
From the perspective of overall trading volume and open interest (OI), most tokens currently only need minimal marginal buying to push prices higher, so the market as a whole remains in a “low allocation” state.
He believes that the key now is whether BTC can effectively break through the $80k threshold and trigger a new upward trend in mainstream tokens like ETH, SOL, and HYPE simultaneously.
Eugene also expressed hope that the market will not encounter resistance to decline at the current position.