This week, the crypto market capitalization climbed 10% to $1.68 Trillion. That’s a 25% increase from Jan. 24, which was a bottom. It’s too early to suggest that the market has found a bottom but two key indicators — The Tether/CNY premium and CME futures basis — have recently flipped bullish, signaling that positive investor sentiment is backing the current price recovery.

The price charts alone should not convince traders that the bear market has ended. In the example above, from Dec. 13 to Dec. 27, total market capitalization in this sector rose from $1.9 billion low to $2.33 Trillion. The 22.9% recovery, however, was erased in just nine days after crypto markets plummeted on Jan. 5.