Trader Eugene: Bitcoin still has downside potential, may test key psychological barrier of $66000

Odaily Planet Daily News: Renowned trader Eugene stated that the overall trend of Bitcoin (BTC) is still trending downwards, and there has not been enough market panic seen on the high time frame (HTF) to complete the deep cleaning of this cycle. Eugene believes that although BTC has some support around $76000 and may even form a double bottom in the $74000-76000 range, this probability is gradually decreasing. He pointed out that the upward trend or range of Bitcoin has been disrupted in all current time frames, with $75000 being the last important support. In addition, he believes that the market will eventually test MicroStrategy founder Michael Saylor's psychological threshold of $66000 and observe the market's performance at this level. Meanwhile, due to the strong correlation between BTC and the US stock market, he expects no reversal in the short term due to comments from Trump, Bessent, or Federal Reserve Chairman Powell. Eugene also stated that if tonight's US PPI data performs well and drives Bitcoin to rebound above a high of $80000, he may consider shorting at high levels.