Bitcoin rose on Monday, climbing back to around $62,500 after last week's sharp selloff. But the uptick did little to shift the dominant mood in the market — bearish sentiment still rules, and the recovery was too small to set up two consecutive days of gains.
Monday's bounce
Prices gained ground Monday, erasing some of the losses from the previous week's crash. Traders who'd been hoping for a steady recovery saw the move as a tentative sign — but not a clear one. The bounce wasn't strong enough to suggest a sustained rally, and volume was moderate.
Why optimism fizzled
By Monday afternoon, the initial enthusiasm started to fade. The gain came after a tumultuous week that saw bitcoin tumble sharply, and many market participants remain cautious. A single day of green doesn't erase the damage, and the lack of follow-through on Monday dampened hopes for a quick reversal.
Bearish sentiment still dominates
Despite the price uptick, the prevailing view among traders is bearish. The crash last week left scars — open interest dropped, and on exchanges, the order books show more sellers than buyers at current levels. Until that changes, any upward moves are likely to be met with skepticism.
What comes next
All eyes are on whether bitcoin can hold $62,500 and push higher in the coming sessions. If it fails to build on Monday's gain, the next support levels could be tested again. No one's calling the bottom yet.
