Crypto Rebounds as Oil Drops, Market Signals Show This!

Jakarta, Pintu News – Crypto markets saw a recovery on April 1, 2026 after oil prices dipped below $100 per barrel, following US President Donald Trump’s statement regarding the potential end of the conflict in Iran within weeks. However, despite the rise in crypto asset prices, derivatives data indicates that this rally has not been supported by strong conviction from market participants.

Bitcoin (BTC) recorded a rise of around 3.1% in the last 24 hours to around $68,500, while Ethereum (ETH) returned to the $2,130 level after falling below $2,000. Altcoins also performed positively, with Algorand (ALGO) surging up to 22% in a day.

Rally Triggered by Sentiment, Not Leverage

The rise in the crypto market this time is considered to be driven more by spot and short covering demand, not by an increase in leveraged positions. This can be seen from the futures trading volume which rose 23% to $210 million, but open interest remained stagnant at around $106 billion.

This suggests that market participants are not yet fully convinced of the current upward direction. In other words, the rally is fragile and could potentially reverse if macro sentiment changes.

Also Read: 3 Bitcoin Signals: Rp1.02 Billion Can Be Tested Again, When is Bitcoin ATH?

Risk of Correction Still High

Some assets such as Ethereum (ETH) and Zcash (ZEC) are showing increased leverage activity, which may increase the risk of a price correction in the event of a negative sentiment shift. On the other hand, the options market is still showing a bearish bias, especially on Bitcoin, reflecting investors’ concerns about potential price declines.

In addition, the implied volatility for BTC and ETH is still relatively low, indicating that the market is in a “calm” state despite the upward price movement.

Conclusion

Despite the crypto market rebounding on the back of lower oil prices, derivatives data suggests that this rally has not been supported by strong investor conviction. Without a significant increase in open interest and leverage, the current price rise is potentially unsustainable and vulnerable to a correction in the short term.

Also Read: 3 XRP Signals Quietly Bought: Price of IDR 22,000 Can Explode?

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• CoinDesk. Crypto rebounds as oil dips on Trump comments, but derivatives signal weak conviction. Accessed April 2, 2026