Guys, have you seen Bitcoin’s rebound? This morning it touched $65,400, and for once it seems something decent after weeks of suffering. The weakening dollar has helped quite a lot, and even Asian equities have done their part, with a risk-on mood that’s finally back on track.

But this is where it gets interesting: the crypto market is testing what analysts call a doppio minimo. Basically, total market capitalization has returned to the lows from early February, and if this level holds, we could see a doppio minimo that would lead to a rally of about 10%. It sounds good on paper, but the same analysts warn that if the rebound fails, the doppio minimo won’t form, and then we could fall another 25%. That’s not exactly reassuring.

The main tokens are following Bitcoin higher: Ether +4.2%, Solana +7%, XRP +3%. Nothing exciting considering where we’ve come from, but at least they’re moving in the right direction.

The real problem is that confidence in Bitcoin remains weak. After the 50% drop from the highs, sentiment is still awful, and experts say we might not have hit bottom yet. So yes, the doppio minimo is a potentially bullish pattern, but the market still doesn’t seem convinced that it’s really time to buy.