The broad-based altcoin rebound undid a portion of the losses caused by a strong labor market yesterday.
Though the total crypto market cap bounced 1.4% over 24 hours to $2.39 trillion due to the ongoing altcoin recovery rally, experts maintained a cautiously optimistic stance.
“The market has not yet seen a structural trend reversal.” Tim Sun, senior research analyst at HashKey Group, told Decrypt. “While market sentiment remains fragile and the risk of inertia-driven downward movement cannot be ruled out in the short term, on-chain data and capital flows suggest that buying support is strengthening.”
What to Expect for Bitcoin and Crypto Ahead of This Week's Inflation Data
