Analyst: Crypto Market Sell-Off Driven by Macro Factors, Possible Rebound Midweek

BlockBeats News, April 8th, according to The Block, analysts say that the sell-off in the crypto market on Monday was mainly driven by global macro factors rather than issues within the crypto market itself. CoinPanel's Senior Automated Trading Expert, Dr. Kirill Kretov, stated in an interview with The Block: "We are in a period of escalating global uncertainty, with tariff conflicts, frequent geopolitical hotspots, and conflicting macro signals all converging. In this environment, investors are withdrawing from risk assets and turning to what are considered safer assets such as US Treasuries and gold. Cryptocurrencies, especially altcoins, are at the forefront of this pressure."

Despite the market experiencing a sell-off, some analysts still believe that a short-term rebound is possible. BRN analyst Chu stated that oversold conditions could trigger a rebound later this week, depending on the upcoming economic data.

Chu said, "With short-term overselling of risk assets intensifying, there may be some short-term relief in the next day or two, as the Fed's FOMC meeting minutes are released on Wednesday, US CPI and initial jobless claims on Thursday, and PPI, University of Michigan consumer sentiment, and inflation expectations on Friday. A 'Dead Cat Bounce' lasting at least a few weeks could begin as early as Wednesday."