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Analyst: The crypto market dumping is driven by macro factors, and a rebound may be expected mid-week.
BlockBeats News: On April 8, according to The Block, analysts said that Monday's sell-off in the crypto market was mainly driven by global macro factors, rather than problems in the crypto market itself. In an interview with The Block, Dr. Kirill Kretov, Senior Automation Specialist at CoinPanel, said, "We are in a period of heightened global uncertainty, with escalating tariff conflicts, geopolitical hotspots, and conflicting macro signals converging. In this environment, investors are withdrawing from risky assets and moving towards assets that are considered safer, such as US Treasuries and gold. And cryptocurrencies, especially altcoins, have borne the brunt of the pressure." Despite the sell-off, some analysts believe a near-term rebound is possible. Chu, an analyst at BRN, said the oversold state could trigger a rally in the middle of the week, depending on upcoming economic data. "With the short-term oversold of risk assets intensifying, there could be some short-term relief in the next day or two, and with the release of the Fed's FOMC meeting minutes on Wednesday, the release of US CPI and initial jobless claims on Thursday, and the release of PPI and University of Michigan consumer sentiment and inflation expectations data on Friday, the market could see a 'dead cat bounce' that lasts at least a few weeks as early as Wednesday," Chu said.