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