Bitcoin (BTC) is treading water around $87,000 on Tuesday, stuck in what's becoming a frustratingly familiar pattern for crypto traders. The past 24 hours brought $188.74 million in liquidations, a reminder that even sideways markets can hurt if you're on the wrong side of leverage.

The mood isn't exactly bullish when you look at the institutional flows either. Bitcoin ETFs recorded $19.3 million in net outflows on Monday, while Ethereum (ETH) ETFs saw $9.63 million walk out the door. Not catastrophic numbers, but they tell a story about hesitation.

Why Everything Feels Stuck

According to analyst Michael van de Poppe, Bitcoin keeps getting rejected above $88,000 and is trapped in a multi-week consolidation range. The good news about compression like this? It usually comes before something big happens. The bad news? You need patience to wait for that actual breakout or breakdown to show itself.

Crypto chart analyst Ali Martinez pointed out something more concerning: Bitcoin printed a death cross between the 10-week and 50-week simple moving averages about three weeks ago. For the non-chart-watchers, that's historically bearish and signals weakening momentum. Not the kind of thing you want to see if you're hoping for a quick trip back to six figures.

Ted Pillows noted that the FOMC minutes release could inject some short-term volatility into the mix. For Ethereum specifically, he's watching the $3,000 level as the key pivot point. Any sustained rally needs to reclaim and hold above that psychological barrier.

Meanwhile, Crypto Tony is keeping eyes on Solana (SOL) at $118. He identified this as critical support, warning that a clean break below would significantly weaken the technical structure.

Current Price Snapshot

Here's where the major cryptocurrencies stand:

Meme Coins and Wild Predictions

The broader meme coin market slipped 0.9% to a total market cap of $42.2 billion. Not exactly a bloodbath, but the speculative edge of crypto is feeling the same pressure as everything else.

That said, crypto trader Javon Marks is swinging for the fences on Dogecoin (DOGE). He pegged the breakout target near $0.6533, which would represent roughly 401% upside from current levels. He added that price action since early 2022 continues to suggest a broader uptrend is intact. If Dogecoin can decisively move above $0.6533, Marks thinks a rally toward $1.25 could be in the cards.

That's a bold call when the overall market is sitting on its hands waiting for the Fed to speak.

For now, crypto markets are playing the waiting game. The FOMC minutes could be the catalyst that finally breaks this consolidation one way or another. Until then, it's all about watching key levels and managing risk in a market that's coiled but hasn't decided which direction to spring.