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Trader Eugene: If BTC cannot hold above $120,000, it will lose market dominance.
Odaily News Trader Eugene stated that if BTC cannot strengthen quickly and re-establish itself above 120000 USD, it will affect overall market sentiment. Currently, it is oscillating between 112000 and 120000 USD, gradually consuming the upward momentum of other assets. He indicated that if BTC successfully breaks through 120000 USD, ETH is expected to stand at 4000 USD and maintain an exchange rate of 0.03, at which point the market will regain long positions momentum, making it suitable to go long; however, if BTC falls below 112000 USD, structural opportunities for mid-term long positions will no longer be considered.