On November 24, analysts noted that Bitcoin has recovered from the sell-off earlier this week that triggered massive liquidations, currently trading around $87,645—up 1.8% over the past 24 hours. Other cryptocurrencies also rebounded, with ETH rising 0.5% to $2,834, XRP gaining 2.65% to $2.09, and Solana climbing 2.5% to $133. The overall crypto market increased by 1% in the past day. Analysts described the price recovery as a "relief rally after a washout" but noted a lack of sustained momentum. Vincent Liu, CIO of Kronos Research, stated that Bitcoin’s current movement resembles a "washout rally," characterized by thin liquidity, fragmented trading flows, and buyers seeking stability while long-term holders accumulate. He expects Bitcoin to consolidate within a narrow range of $85,000 to $90,000 as liquidity remains shallow and stop-loss orders are being cleared. Rachael Lucas, a crypto analyst at BTC Markets, observed that Bitcoin is consolidating after its deepest pullback of this cycle. Maintaining levels above $86,000 in the short term is positive, but market structure remains "fragile." Lucas highlighted that sustained trading above $88,000 would confirm a bottoming process, while failure to do so risks a drop toward $80,000. She added that short-term traders remain cautious and driven by capital flows, closely monitoring funding rates and liquidation levels for signs of stability. For institutions, this represents a "rotation phase rather than an exit," with ETF outflows reflecting risk management rather than abandonment.