The crypto market has made an impressive recovery following Monday’s crash, with the total market cap reaching $2 trillion. Bitcoin and Ethereum led the rebound, with Bitcoin seeing a 90% increase in daily average traded volume to $93 billion.
One of the reasons for the market surge was the rebound in Asia stocks, which led to a bullish wave in the European and US stock markets. Additionally, there was an increased fear of further capitulation in the crypto market, prompting long-term investors to see the crash as a buying opportunity.
Global liquidity breakout also played a role in the market recovery, with countries like China, Japan, and the United States injecting liquidity into the market. Despite the recent crash, on-chain data suggests that the worst may be over, and a rebound in the crypto market is expected in the fourth quarter.
Overall, the recent market recovery has brought optimism to investors, signaling a potential end to the crypto crash.
