I agree that this is a good rebound and again this contributes to the resilience of the crypto-market. Investor confidence is important in nascent technology markets and products (just think the volatility of early days NASDAQ in the 90s) and investor confidence in such early days makes or breaks the market. This can be paralleled in the crypto markets where there are wild and unpredictable swings in response to the slightest news. This will only stabilize once bitcoin gains wider acceptance and the technology matures, rather than a function of market cap, so I do see investor confidence playing a LARGE role in crypto markets at present, while allowing it to survive long enough to deliver mainstream value.

Hence such resilience displayed is very encouraging.