Here’s why BTC and altcoins like Pepe, EOS, Bonk, Fartcoin are rising

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

The crypto market crawled back slightly on April 1 as investors bought the dip after a brutal quarter in which Bitcoin and Ethereum dropped by 12% and 45%, respectively.

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

Bitcoin price rose slightly to $84,000, while Pepe, EOS, Bonk, and Fartcoin gained over 5% in the past 24 hours. Total trading volume across exchanges rose by 18%. This rebound was notable as U.S. stock index futures continued their downtrend. Futures tied to the Dow Jones fell by 250 points, while the Nasdaq 100 and S&P 500 indices dropped by 0.50%.

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

One potential catalyst for the performance of Bitcoin and other altcoins is data showing that BTC and ETH balances on exchanges have declined, representing a signal that the selling pressure may be easing. The rebound could also be part of a dead cat bounce, as market risks remain elevated. A dead cat bounce refers to a situation where an asset in a downtrend experiences a temporary recovery before resuming its decline. It’s also known as a bull trap.