Crypto Rally Continues as Altcoins Surge Amid Positive Market Signals

The cryptocurrency market experienced a notable rebound today, restoring some of the recent declines. Bitcoin's price rose to $114,000 from Sunday’s low of $112,000. This upward movement is primarily driven by gains in various altcoins such as Conflux (CFX), Hedera Hashgraph (HBAR), Ondo Finance (ONDO), Stellar Lumens (XLM), and Ethena (ENA). This article examines the factors fueling the current market rally. One possible explanation for the surge is investor confidence in buying assets during a dip, which often leads to quick rebounds. However, there's a risk that this uptick may be a temporary bounce, known as a dead-cat bounce, before prices resume their downward trend. Another contributing factor is Bitcoin's recent technical pattern. The cryptocurrency has completed a bullish break-and-retest, retesting its support level at $122,000—its May peak and former all-time high—suggesting a continuation of its upward trajectory toward the $123,200 milestone. In particular, Conflux's price surged over 15% amid anticipation for its upcoming Conflux 3.0 upgrade, which promises to enhance transaction speeds to approximately 15,000 TPS, enable parallel block processing, support AI integ...