Analysts Keep Crypto on High Alert Despite Bitcoin's Brief Surge

Bitcoin's price jumped by 2% after the US and Iran agreed to halt strikes over control of the Strait of Hormuz. However, despite this unexpected development, top analysts remain cautious about an immediate recovery in Bitcoin and the broader crypto market.

Rekt Capital, 10x Research's Markus Thielen, Benjamin Cowen, and Cheds Trading are among those who remain skeptical about a swift rebound. This cautionary stance is likely due to the fact that the underlying factors driving the cryptocurrency market have not changed overnight.

The current price of Bitcoin is hovering below $60,000, and analysts are waiting for more concrete evidence of a recovery before making any predictions.