Bitcoin’s return toward the $90,000 mark provides a near-term boost to the crypto market, but few analysts see it as a significant turning point after one of the weakest second halves in recent years.
Major tokens remained limited over the past 24 hours, with xrp, ether, Solana’s SOL, Cardano’s ada and up up to 2%. Aave’s AAVE decline continued as the governance fight raged, leaving it as the worst-performing token with a 7% decline.
The total crypto market cap has once again surpassed $3 trillion, a psychologically important level that has served as a key zone between buyers and sellers over the past month. Even though prices are higher that day, analysts warn that the rebound reflects exhaustion rather than renewed conviction.
Alex Kuptsikevich, chief market analyst at FxPro, said the market’s recent strength is largely technical and driven by a weak base after weeks of selling.
“The crypto market is making another attempt at growth, but it is not yet a recovery,” Kuptsikevich said, noting that sentiment has only modestly improved. The market’s Fear and Greed Index rose to 25, suggesting traders may be moving away from extreme pessimism, but are not accepting risk.
Bitcoin was trading near $88,000 in the Asian morning on Tuesday, placing itself against the upper end of a range that has held steady since the start of last week. Kuptsikevich cautioned that short-term dynamics could prove misleading, especially given the broader context. Bitcoin remains about 30% below its 2025 high and is trading below levels seen at the start of the year.
“Attempts to bring year-to-date performance to zero are little consolation,” he said in an email, adding that disappointment had replaced the optimism that dominated markets earlier this year.
Seasonal trends reinforce this caution. Data from CoinGlass shows that bitcoin is down more than 22% so far in the fourth quarter, making 2025 one of the weakest year-end periods outside of major bear markets.
Although the fourth quarter has historically produced some of Bitcoin’s strongest rallies, it has also led to sharp declines in years marked by tight liquidity and macro uncertainty.
The market remains vulnerable to sudden reversals, particularly during U.S. trading hours. Recent sessions have repeatedly seen price gains from Asian and European sessions fade as North American markets open up.
