Bitcoin’s approach of $90,000 is giving the crypto market a short-term boost, but some analysts see it as a meaningful turning point after one of the weakest second halvings in recent years.
Major tokens remained range-bound over the past 24 hours, including XRP, Ether, Solana’s SOL, Cardano’s ADA, and increasing by 2%. Aave’s AAVE continued to decline as its governance pullout continued, making it the worst performing token with a 7% decline.
The total crypto market capitalization has once again risen above $3 trillion, a psychologically important level that has served as a crucial zone between buyers and sellers over the past month. Although prices are higher on the day, analysts caution that the rebound reflects exhaustion rather than new conviction.
Alex Kuptsikevich, chief market analyst at FXPro, said the market’s recent strength has been largely technical and driven by a low base after several weeks of selling.
“The crypto market is making a new attempt at growth, but it is not a recovery yet,” Kuptsikevich said, noting that sentiment has only marginally improved. The market’s Fear and Greed Index has climbed to 25, suggesting traders are moving away from excessive pessimism, but not accepting risk.
Bitcoin was trading near $88,000 on Tuesday morning Asian time, putting pressure on the upper end of the range it has formed since early last week. Kuptsikevich warned that short-term momentum could prove misleading, especially when looking at the broader context. Bitcoin is down about 30% from its 2025 peak and trading below levels seen at the beginning of the year.
“Efforts to get year-to-date performance back to zero are of little consolation,” he said in an email, adding that pessimism has replaced the optimism that dominated markets earlier this year.
Seasonal patterns reinforce that caution. Data from CoinGlass shows that Bitcoin has declined by more than 22% so far in the fourth quarter, making 2025 one of the weakest year-end periods outside of major bear markets.
While the fourth quarter has generated some of Bitcoin’s strongest rallies historically, it has also delivered sharp declines in years that have reinforced liquidity and widespread uncertainty.
The market remains sensitive to sharp reversals, especially during US trading hours. Recent sessions have repeatedly seen price gains from Asian and Europe sessions pared down as North American markets open.