Crypto Rebounds! Sentiment Returns to Positive Levels
The crypto market began to feel more optimistic in Monday's trading after Bitcoin and Ethereum led the rally. Bitcoin rose around 4% to break through the $106,000 range, while Ethereum surged around 7% to around $3,640. XRP also showed gains of over 8% to $2.54. This momentum emerged from the re-entry of institutional flows and the recovery of risk sentiment amidst the digital asset market and optimism about the reopening of the US government.
However, behind this rally lies an important caveat: Bitcoin remains below the $107,000-108,000 resistance zone, which was previously identified as a barrier to further upside. Technical analysis suggests that if Bitcoin fails to break through this area, the potential for a downward correction towards the $98,000-96,000 range remains open. Meanwhile, investors remain vigilant for external factors that could disrupt the market, such as changes in interest rates, liquidity, or regulation.
On the macro front, improving risk sentiment is a key driver, but the crypto market is still in a cautious recovery phase. This means that while the rally is occurring, it doesn't signal an unconditional bull run — diversification and risk management remain crucial. For long-term investors, now could be a time to strengthen positions in blue-chip crypto assets, but short-term traders should continue to monitor technical levels and external factors closely.
Source: Newsmaker.id
