The cryptocurrency market seems to be recovering from its recent dip. Bitcoin (BTC) had once again fallen to the $62,000 price level, mimicking its Feb. 6 descent. BTC has since reclaimed the $65,000 price level, rallying 3.4% in the last 24 hours, according to CoinGecko data. The original cryptocurrency may have substantial support at the $62,000 area. Other assets are also following BTC’s trajectory. Ethereum (ETH) has rallied 4.2% in the daily charts, Solana (SOL) has risen 6.9%, and Dogecoin (DOGE) has rallied by 1.5%. Let’s discuss if the cryptocurrency market is out of the weeds, or if the rebound is just another dead cat bounce.

Is The Cryptocurrency Market Rebound Just A Dead Cat Bounce?

The crypto market took a hit earlier this week after President Trump announced his new tariff plans. Investors likely anticipated increased macroeconomic uncertainties following Trump’s new tariff plans. However, investors likely bought the dip once again, leading to a slight reversal.

Despite the turnaround, the cryptocurrency market is likely not out of the weeds just yet. The latest upswing could be a dead cat bounce, and prices could dip once again. The market is still quite fragile, and we are far from a recovery phase. Stifel analysts anticipate Bitcoin (BTC) to fall to the $38,000 price level. Macroeconomic worries continue to plague investors, while geopolitical tensions have added additional pressure on the cryptocurrency market. The large number of variables and increased chances of volatility could lead to another market dip.

Also Read: Worst Case Scenario For The Cryptocurrency Market

CoinCodex analysts are quite bullish on Bitcoin (BTC). The platform anticipates the original cryptocurrency to reach the $77,900 mark on March 8, 2026, but does not expect the asset to be able to hold this price level. CoinCodex predicts BTC’s price to trade at $69,529 on May 26, 2026.