PANews reported on March 24 that the cryptocurrency investment institution QCP Capital stated that the crypto market saw a mild rebound over the weekend, with BTC and ETH breaking through $85,000 and $2,000 respectively. The recovery seemed to be led by the stock market, with stock futures experiencing a strong rebound. Despite ongoing concerns about economic recession, Powell's speech at last week's FOMC meeting, though cautious, helped ease investor nervousness. The crypto fear and greed index has increased from 32% last week to 45% this week (49% being neutral), reflecting a general easing of risk-averse sentiment.

A notable highlight is the spot BTC ETF inflows, which purchased 8,775 BTC (equivalent to $744 million) last week, a significant increase. This marks a sharp reversal after several weeks of net outflows and signals early signs of liquidity returning to the crypto market. Since perpetual positions remain low and funding rates are flat, this rebound appears to be driven by genuine spot demand rather than leverage, which is a key distinction, as leverage-driven trends often suddenly close out during liquidations.

However, despite the ETF momentum being revitalized and a subsequent rebound today, caution remains regarding prospects for continued breakthrough and upward movement. The upcoming tariff upgrade on April 2 may again put pressure on risk assets. Meanwhile, the options market reflects a more neutral wait-and-see attitude, with implied volatility trending downward and risk reversals flattening across all terms, in stark contrast to the more bearish trend observed a week ago.

It is crucial to closely monitor whether this week's recovery will mirror last Monday's price movement, when cryptocurrencies rose on Sunday but sharply retraced within 48 hours.