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Trader Eugene: BTC has regained the 120,000 USD mark, and ETH is expected to break through 4,000 USD.
On July 26, trader Eugene Ng Ah Sio posted an analysis of the Bitcoin market, stating that "BTC needs to show strength within a limited time to continue this rise. Currently, BTC is oscillating between 112,000 and 120,000 USD, while the momentum of other assets in the market continues to weaken. As long positions, we hope to see BTC rise above 120,000 USD, which would allow ETH to potentially break through 4,000 USD (maintaining an exchange rate of 0.03). In this case, the encryption party will continue, and long positions will be very easy. If this doesn't happen, both long and short positions will face a volatile market. If BTC falls below 112,000 USD, the long-term bullish structure will no longer be favored."