Bitcoin’s price climbed by more than 6 percent on Monday. It reached its highest point in one month.

BitcoinAccording to Coin Metrics it rose as high as $44,500 to its highest point since Jan. 5. It reached a record high of $47.013. By 4:02 p.m. ET Bitcoin traded as of 4:02 p.m. ET at $44,068.88

These movements were built upon a strong pop Friday following better-than expected U.S. employment data. Investors saw this data as more encouragement to the Federal Reserve to increase its benchmark interest rate next month. Treasury yields also rose.

Bitcoin has been under pressure from economic stories more than ever, because institutional investors are treating it as a risky asset. However, there’s still not consensus on how best to value bitcoin.

Digital currency also follows equity prices higher. Major stock indexes posted strong weekly gains while bitcoin rose.

Experts aren’t convinced by this rebound just yet. fell below the $40,000 level twice last month. Digital currency also remains well below the $60,000.

“Maybe it is just that — a bounce,” said Noelle Acheson, head of market insights at Genesis.

Acheson indicated that bitcoin futures open interest has picked up once again. It shows traders taking a position. She said that bitcoin perpetual futures funding rates hover around zero which indicates uncertainty.

Acheson stated that uncertainty has been the word of the day and pointed to the funding rate, which is the cost of long-term positions in perpetual futures.

Additionally, she stated that short-term investors would result in a higher funding rate. This would also lead to a quicker uptick in open interest.

She stated that “uncertainty” is the main theme and it would make sense, given volatility in crypto markets, for anyone to hold a large short position without conviction.

Fairlead Strategies’ Katie Stockton said that bitcoin was testing its 50-day moving mean after an oversold bounce. This support at $37 361 for the week, however, is intact.

“If the equity market was not in a safe place, or risk assets as a whole, then I might be buying the set up for a very short time,” she stated. It is important to consider it in light of the recent downturns in long-term indicator, which makes us noncommittal about longs.