After weeks of wild swings, the crypto market decided to take a breather on Tuesday. Bitcoin (BTC) is trading around $86,763.19, while major altcoins are mostly consolidating after recent turbulence.

Here's where the major cryptocurrencies stand:

Market Snapshot:

The calm doesn't mean traders escaped unscathed. According to Coinglass data, 99,379 traders were liquidated over the past 24 hours, wiping out $318.05 million. Meanwhile, Story, Kaspa, and Ethena led the gainers during this period.

What's Driving the Market:

The backdrop is busy even if prices aren't moving much. A wave of new altcoin spot ETFs is launching this week, which could bring fresh institutional money into the space. XRP jumped to $2.20 on renewed ETF speculation, though questions remain about whether the rally has legs.

Meanwhile, analysts are debating whether Bitcoin's recent bounce off $80,000 represents genuine strength or just a temporary reprieve. Tom Lee is sticking to his $7,000 Ethereum (ETH) price target, though he expects a dip to $2,500 first. And data suggests Bitcoin sellers may be getting exhausted, but with a caveat: the "but" is doing a lot of work there.

Technical Views:

Crypto chart analyst Ali Martinez is sounding the alarm on a potential bearish flag pattern forming in Bitcoin. If that plays out, we could see a drop toward $79,000.

Crypto trader Jelle sees things more optimistically. He notes that Bitcoin has kicked off a mini uptrend with higher highs and higher lows, though he acknowledges the chart is packed with overhead resistance. Bulls need to reclaim key levels to really shift momentum.

Ted Pillows is watching the order book closely. He's seeing thick sell walls stacked above $90,000, with strong buy support sitting in the $80,000–$83,000 zone. With equities turning green and resistance starting to thin, he thinks a push toward $90,000 is increasingly possible, though it'll take follow-through strength to get there.

For now, crypto markets are in wait-and-see mode, caught between technical levels and the promise of fresh institutional flows from those incoming ETFs.