Bitcoin’s push back towards the $90,000 level is giving the crypto market a short-term lift, but some analysts see it as a meaningful turnaround after one of the weakest second-quarters in recent years.
Major tokens range bound in the last 24 hours, XRP, Ether, Solana’s Sol, Cardano’s ADA and Increasing at most 2%. Ayu’s Iyu continues to decline as its governance faces corruption, leaving it the worst-performing token with a 7 percent drop.
Total crypto market capitalization has once again gone above $3 trillion, a psychologically important level that has served as a key zone between buyers and sellers over the past month. Although prices are higher on the day, analysts have warned that the rebound reflects exhaustion rather than punishment.
Alex Kaptsevich, chief market analyst at FXPRO, said the market’s recent strength is largely technical and driven by a low base after weeks of selling.
“The crypto market is making a new attempt at growth, but it’s not a recovery yet,” Kaptyskievich said, adding that sentiment has only marginally improved. The market’s fear and greed index has climbed to 25, suggesting traders are turning away from extreme pessimism, but not accepting risk.
Bitcoin was trading near 88,000 during the Asian morning hours on Tuesday, pushing against the upper end of the range from early last week. Kuptsikevich cautioned that short-term momentum can be misleading, especially given the broader context. Bitcoin remains about 30% below its 2025 peak and is trading below levels seen at the start of the year.
“Efforts to return year-over-year performance to zero are of little consolation,” he said in an email.
Weather patterns reinforce this caution. Data from Konglass shows that bitcoin is down more than 22 percent so far in the fourth quarter, making it one of the weakest year-end periods outside of the 2025 major bear markets.
While the fourth quarter has historically produced some of Bitcoin’s strongest rallies, it has also featured sharp downside during years of tightening liquidity and macro uncertainty.
The market is prone to sharp reversals, especially during US trading hours. Recent sessions have seen repeated price gains from Asian and European sessions as North American markets open.