The Global Cryptocurrency Market Is Showing Early Signs of Life After the Brutal “Black Monday” Crash

The global cryptocurrency market is showing early signs of life after the brutal “Black Monday” crash on April 7, which wiped out billions in market value

The global cryptocurrency market is showing the first signs of life after the brutal “Black Monday” crash on April 7 decimated billions in market value within a matter of hours.

The crash, triggered by former President Donald Trump’s sudden tariff announcement, led to over $1 billion in liquidations in just 24 hours, rattling even seasoned investors.

But now, just days later, the market appears to be stabilizing. Today, the global crypto market cap has risen to $2.53 trillion, marking a 3.08% gain in the past 24 hours.

While a full recovery is still far from sight, this bounceback is being closely monitored by analysts and traders.

Major Cryptocurrencies Spearhead Recovery

Several top-performing cryptocurrencies have contributed to the rebound, with Bitcoin (BTC) and Ethereum (ETH) showing renewed momentum:

Other altcoins are also reporting gains across the board:

This positive performance indicates that short-term buying interest has returned, especially among retail traders who are looking to capitalize on the recent market downturn.

Sentiment Remains Glum Despite Price Recovery

However, despite the gains in the market, sentiment remains largely negative. The Crypto Fear & Greed Index currently stands at 19, signaling “Extreme Fear.” This level of fear indicates a lack of confidence among market participants, even as prices begin to trend upwards.

Furthermore, the Altcoin Season Index remains low at 17/100, which signifies that Bitcoin continues to dominate trading volumes while altcoins are lagging behind.

While the crypto market may be slowly pulling back from the oversold territory, investors are still navigating through an environment of uncertainty.

Factors Contributing to the Rebound

Market watchers suggest that the rebound can be partly attributed to technical bounces after oversold conditions, and an influx of short-term buyers stepping in at bargain levels.

This kind of post-dip rally is not uncommon in the crypto market, especially after such a sharp correction. However, analysts caution that macro factors still pose a threat to the market’s recovery.