Crypto Recovers, But Market Remains Wary of US Data
Bitcoin regained its footing in the $70,000s on Monday (February 9th), after a "free fall" last week to near $60,000. In the European session, Bitcoin hovered around $69,623, with intraday movement of $69,496–$72,024, indicating the market remains volatile but is beginning to stabilize.
This rebound occurred after panic selling and massive liquidations began to subside. Many market players re-entered the market through buy-the-dip schemes, especially as global sentiment improved following a rebound in risk assets across the broader market.
However, the main focus now is not just on the "technical rebound." Traders are holding their breath for this week's US economic data—particularly employment and inflation data—as these could change expectations about the direction of the Fed's interest rates, ultimately determining the risk-on/risk-off mood in crypto.
In altcoins, movement remains mixed. Ethereum is hovering around $2,043, XRP at $1.41, and Solana at $84.2—still vulnerable to fluctuations following Bitcoin.
In conclusion: crypto is indeed "alive again," but it's not completely safe yet. As long as the market awaits confirmation from US data, Bitcoin is likely to continue moving quickly—a sharp rise is possible, but a sudden correction is also very possible.
Source: Newsmaker.id
