Still, analysts were pessimistic of the rally’s staying power, noting a rise in volatility perhaps tied to large investors buying the recent price dips and the continuation of underlying conditions, including the global turbulence, rising prices and recession distress that have plagued crypto markets for the past eight months. Investors are scared, and the occasional surge notwithstanding, have assumed a defensive crouch until firm evidence emerges that the economy has taken a more permanent upturn, say analysts.