The overall crypto market is still in retreat from its weekend highs. Meanwhile, analysts have debated whether things show signs of recovery or capitulation.
Since their weekend highs of just over $1.1 trillion, crypto markets have retreated by around $50 billion. Total market capitalization has lost almost 3% on the day, and prices are heading south again at the time of press.
Resistance is proving to be too much to overcome, and the bear market consolidation is continuing. Market observers and analysts are finding evidence for both scenarios, a recovery and capitulation.
A Case For Crypto Market Recovery
Cumberland crypto liquidity provider was bullish, claiming “a budding uptrend is taking shape in crypto,” in a tweet on Nov. 7. The company used a backdrop of a weakening U.S. dollar and a brightening macroeconomic environment. Cumberland added that the U.S. midterm elections today could also be bullish.
