Crypto Markets Rebound as Genesis Selling Pressure Eases, But Macro Factors Add Uncertainty

Bitcoin and crypto markets saw a pullback last week but are starting to recover, likely due to Genesis selling pressure easing.

Previous crypto cycles don't provide enough data to draw clear patterns. Macro factors like the pandemic changed market dynamics.

Genesis bankruptcy creditors agreed to return 77% of customer holdings in bitcoin instead of cash. This is net neutral for markets.

Bitcoin supply doesn't just come from miners. Active supply from existing holders has increased, but has been mostly absorbed by market.

Coinbase analyst expects continued upside in bitcoin this year as macro conditions improve and new retail capital enters crypto markets.