Let's see whether this was a stealth rise while the US stock markets were asleep. If it continues to go up, or at least be buoyant, while stocks fall or stagnate then we might properly be on to something. Even then we'll need several days of it to be sure.
Even I am waiting to see that.
The initial fall which created a panic sell is justifiable as globally all the stock markets were facing bloodshed. But now when things are stable in crypto market, I guess people can safely assume BTC as an alternative investment to safeguard their money from the upcoming global recession (which will only happen if the virus doesn't get contained within 2 months). I can see other commodities declining too as purchasing power is declining. In that case, crypto can go up as it can attract money.