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BlockBeats News, May 9 — Trader Eugene Ng Ah Sio posted on his personal channel stating, "Several charts are already approaching a bottom, and Bitcoin is still hovering around $80k — I believe that in the next week or so, the market will start a real big move (hopefully upward), and many altcoins are also expected to break through the current consolidation range.
From the perspective of overall trading volume and open interest (OI), most cryptocurrencies now only need relatively less marginal buying to push prices higher, so I generally believe that the market's allocation to most assets remains relatively low.
What the market needs now is for Bitcoin to cleanly break through the $80k threshold, followed by key altcoins (such as ETH, SOL, HYPE) taking over, to initiate a new clear upward trend. Hopefully, it won't be pushed back."#Gate广场五月交易分享