Trader Eugene: The crypto market shows relatively strong signals, and bullish sentiment is returning.

March 16: Trader Eugene posted that he has turned bullish, noting that despite deteriorating global risk sentiment, the crypto market remains resilient—a clear signal of relative strength for the first time since prices collapsed from the $60,000 high.

Eugene stated that his trading style favors buying on breakouts above consolidation ranges rather than attempting to catch a falling knife, thereby managing risk. He also observed that several altcoins are forming natural rounded-bottom patterns, suggesting a higher probability of short-term upside in the crypto market.

He further noted that if BTC successfully breaks above $74,000, it will likely trigger a broad-based rally across the crypto market, with leading tokens ETH and SOL expected to revert to their prior trading ranges—targeting $2,400 and $100, respectively.