Bitcoin rebounded to $78,662 after dipping to around $75,000 earlier in the day, marking a 4.2% increase. Other cryptocurrencies followed suit, with Ethereum rising 5.86% to $2,322. Analysts are skeptical, suggesting this uptick is more of a technical bounce rather than a signal of a sustained recovery. The market remains under pressure from macroeconomic uncertainties and tight financial conditions. Rick Maeda from Presto Research points out that the rebound is tied to a broader easing in risk-off sentiment rather than specific developments in crypto. He notes that the sell-off linked to hawkish signals from the Federal Reserve has led to improved risk appetite across markets, including U.S. equities. However, he questions the sustainability of this rebound, particularly if the Fed maintains a firm stance on interest rates. Andri Fauzan Adziima from Bitrue echoes this caution, labeling the current rally as fragile. He emphasizes that without new catalysts, like ETF inflows or macroeconomic easing, the rally won’t hold. Market participants are closely monitoring upcoming U.S. labor data, particularly jobless claims and non-farm payrolls, which could influence market sentiment and support risk assets if the numbers are softer.