The cryptocurrency market shows tentative signs of recovery after dipping to $62,000 levels, with Bitcoin leading a rebound to $65,000. Major assets like Ethereum and Solana followed suit, though analysts question whether this marks a sustained comeback or a temporary “dead cat bounce” amidst ongoing macroeconomic uncertainty.
The cryptocurrency market appears to be recovering from a recent decline. Bitcoin had fallen back to the $62,000 price level but has since reclaimed $65,000, rallying 3.4% in the last 24 hours according to CoinGecko data. This movement suggests Bitcoin may have found substantial support at $62,000.
Other major cryptocurrencies followed Bitcoin’s trajectory upward. Ethereum (ETH) rallied 4.2%, Solana (SOL) rose 6.9%, and Dogecoin (DOGE) increased by 1.5% in daily charts. The market had initially dipped following President Trump’s announcement of new tariff plans, which investors likely anticipated would increase macroeconomic uncertainties.
Despite the turnaround, the market may not be out of danger. Analysts warn the latest upswing could be a dead cat bounce, with prices potentially dipping again due to fragile conditions. CoinCodex analysts are quite bullish on Bitcoin, anticipating it could reach $77,900 by March 8, 2026, though they do not expect the asset to hold that level.
Macroeconomic worries and geopolitical tensions continue to pressure the cryptocurrency market. Stifel analysts anticipate Bitcoin could still fall to the $38,000 price level, highlighting the large number of variables and potential for increased volatility. The market remains far from a definitive recovery phase.
