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Bitcoin has bounced back to about $87,500 following a drop earlier this week that caused mass sell-offs. Analysts warn that the market remains fragile, with expectations of consolidation between $85,000 and $90,000, while traders remain cautious due to ongoing volatility.
The article discusses recent trends in the data engineering market, suggesting that consolidation is happening due to its limited size. It raises questions about the sustainability and growth potential of the industry.
Bitcoin failed to maintain its January breakout, dropping below $90,000 due to persistent overhead supply and selling from recent buyers. Analysts suggest the market is consolidating rather than reversing, with cautious sentiment and selective accumulation limiting upward momentum.