What's behind Monday's market-wide recovery?

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May 25, 2021
Stablecoin activity may suggest a rising 'buy the dip' pressure

Bitcoin is up +10.2% in the past 24 hours.

Ethereum is up +23.1% in the past 24 hours.

Bar for a few exceptions, the top 100 coins have all been painted green today, as the market is already debating the odds of a dead cat bounce:

P.S. i just clicked on any option to see the poll results

So...why is the crypto market up today?

While there’s no one answer, the on-chain, social and derivatives data for Bitcoin and other top caps shows a roster of likely culprits. In no particular order:

  • On-chain data shows strong signs of market-wide capitulation and ‘maximum pain’ markers
  • Bitcoin ‘whale’ activity may be showing (very) early signs of accumulation
  • Recent stablecoin data suggests a growing desire to ‘buy the dip’

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