The leading cryptocurrency, Bitcoin (BTC), has surpassed the long-awaited $80,000 mark. This morning, it continued its upward trend, climbing above $81,000.
While speculation continues about whether the rally will continue, experienced Chinese trader Eugene Ng Ah Sio has shared his latest analysis of Bitcoin.
The analyst said that the $80,000 level is critical for BTC and that holding onto it could signal a reversal.
Chinese investor Eugene Ng Ah Sio believes that Bitcoin regaining and holding above the $80,000 level would be a significant signal of a market reversal.
The analyst described the current state of the market as a painful period, noting that cryptocurrencies are less attractive than the stock market.
However, according to the analyst, the $80,000 level for BTC is very critical. A recovery towards $80,000 is seen as the first sign of a break from the long bear market that has been ongoing since September 2025.
“The $80,000 level is very important for BTC. Because this level signals the first recovery since the downtrend that started in September 2025.”
What’s still missing is a compelling narrative for cryptocurrencies, but I still believe that in the crypto markets, price almost always outpaces fundamental indicators. Therefore, if BTC can stay above $80,000 long enough, I’m confident speculators will return.”
While a cryptocurrency-specific bullish catalyst is still missing, the analyst predicts a full-fledged rally will begin if Bitcoin establishes a foothold above the psychological and technical resistance at $80,000.
According to him, if BTC remains consistently above $80,000, speculative capital that left the market during dips will return, and the upward trend could continue.
*This is not investment advice.