Bitcoin (BTC) is holding steady around $86,000 Wednesday morning, consolidating after recent volatility that triggered $248.70 million in liquidations over the past 24 hours. The calmer trading comes alongside continued institutional interest, with Bitcoin ETFs recording $128.6 million in net inflows Tuesday and Ethereum (ETH) ETFs pulling in $78.6 million.

The $90K Question

Crypto trader Michael van de Poppe noted that Bitcoin continues to defend the $86,000 support level. If it holds, he expects a move toward $90,000. More importantly, a monthly close above $90,000 would significantly increase the odds that the bottom is already in.

Trader Jelle observed that BTC is consolidating after successfully reclaiming the $84,000 level. The price is now pressing against resistance from the November 19 lows. A breakout there would open the door to $90,000, but failure to reclaim it soon leaves the price vulnerable to another sweep of downside liquidity.

Looking further ahead, GalaxyBTC wondered whether Ethereum could hit five digits in 2026, noting that volatility comes and goes but the long-term trajectory remains intact.

Altcoin Action

Crypto chart analyst Ali Martinez pointed out that XRP (XRP) bounced cleanly off its channel bottom and now appears ready for a run toward the midpoint near $2.60.

For Solana (SOL), Martinez highlighted that roughly 13 million SOL were accumulated around $142, marking that level as a major resistance zone moving forward.

Here's where major cryptocurrencies are trading Wednesday morning:

Meme Coins Hold Ground

The meme-coin sector dipped 1.1% over the past day. Martinez observed that Dogecoin (DOGE) is once again testing the $0.14 support, an area that has repeatedly held, signaling active defense despite broader market weakness.