#BITCOIN$BTC #Write2Earn
Analysts maintain a cautious stance even after Bitcoin’s 12% relief rally clawed back recent losses amid a surging Coinbase Premium.
In brief
$BTC Bitcoin is up 12% from the Friday low of $62,822, coinciding with a 70% uptick in the Coinbase Premium index.
The recovery is flashing signs of a textbook dead cat bounce, driven by short-covering and a squeeze, experts told Decrypt.
Regional pressures eased after Japan's election, but a sustained recovery depends on U.S. economic data and broader macroeconomic trends.
$BTC The crypto market has steadied after last week's sell-off, with Bitcoin posting a double-digit rebound even as analysts caution the rally may not be sustained.
The leading crypto is up 12% from Friday’s low of $62,822 and is currently trading at $70,998
The bounce coincides with an improvement in U.S. investor appetite.
The Coinbase Premium index, which measures the difference between Bitcoin’s price on Coinbase and Binance, has surged over 70%, rising from -0.23% on Friday to -0.06% as of the early Asian trading on Monday