Trader Eugene stated that if BTC breaks through $80,000, most altcoins may begin a new upward trend.

CoinFeed reported on May 9th that trader Eugene, affectionately known as "Dove," stated on his personal channel that several crypto assets have shown signs of bottoming out. With Bitcoin hovering around $80,000, the coming week may be a crucial period for market direction. He believes that most tokens currently have low trading volume and open interest (OI), requiring only minimal marginal buying to drive an upward move, indicating the market is still under-allocated. Eugene pointed out that if BTC effectively breaks through $80,000 and triggers a new upward trend for mainstream tokens such as Ethereum, Solana, and HYPE, several altcoins are expected to break out of their current consolidation range.