The crypto is set for a short-term rebound, not a full recovery
Market overview
The crypto market cap has lost 9.5% over the past seven days. The decline took place on weekdays last week, with the level stabilising around $3.25 trillion over the weekend. Among altcoins, the standout is the unsinkable Zcash at $700, nearing its highs, and weak Solana and Ethereum, which have lost 45% and 40% from their August and September highs, respectively.
The crypto sentiment index recorded values of 10 on Saturday and Sunday, marking a return to the lows of late February this year. Although this was a good point to buy on the rebound in the following days, the downward trend continued for almost a month and a half. Market dynamics since the beginning of October have been reminiscent of those seen at the end of…
