Bitcoin’s pullback toward near the $90,000 mark is giving the cryptocurrency market a short-term boost, but few analysts see it as a significant turning point after one of the weakest second halves in recent years.
Major tokens remained range-bound over the past 24 hours, with xrp, ether, Solana’s SOL, Cardano’s ada and increasing up to 2%. Aave’s AAVE decline continued as its governance fight continues, leaving it as the worst-performing token with a 7% drop.
The total crypto market capitalization has once again surpassed $3 trillion, a psychologically important level that has acted as a key zone between buyers and sellers over the past month. While prices rose that day, analysts warn that the rally reflects exhaustion rather than renewed conviction.
Alex Kuptsikevich, chief market analyst at FxPro, said the recent market strength is largely technical and driven by a low base after weeks of selling.
“The cryptocurrency market is making a new attempt at growth, but it is not a recovery yet,” Kuptsikevich said, noting that sentiment has improved only modestly. The market’s fear and greed index has risen to 25, suggesting that traders may be moving away from extreme pessimism, but not accepting the risk.
Bitcoin was trading near $88,000 in Asian morning hours on Tuesday, pressing against the upper end of a range that has held since early last week. Kuptsikevich warned that the short-term momentum could be misleading, especially given the broader context. Bitcoin remains approximately 30% below its 2025 peak and is trading below levels seen earlier in the year.
“Attempts to push year-to-date performance to zero are of little comfort,” he said in an email, adding that disappointment has replaced the optimism that dominated markets earlier this year.
Seasonal patterns reinforce that caution. Data from CoinGlass shows that bitcoin has fallen 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 historically produced some of bitcoin’s strongest rallies, it has also produced sharp declines during years marked by tight liquidity and macroeconomic uncertainty.
The market remains vulnerable to wild swings, especially during US trading hours. Recent sessions have repeatedly seen price gains from the Asian and European sessions fade as North American markets open.
