The market has taken several hits lately and finally found a floor, but the bounce back has been pretty weak. Price action is now locked in a tight consolidation zone with nowhere to break out. That said, the RSI reading is deep in oversold territory—which is actually a bullish setup. Once this choppy sideways action plays out, we should see a solid recovery move coming.

Here's where things stand right now:

$BTC sitting at $86,857 (+1%)
$ETH holding $2,943 (+0.5%)

Fear & Greed Index: 16 (Extreme Fear)
Total crypto market cap: $3.14T
Liquidations: $197M just got wiped out

The extreme fear reading is actually a contrarian signal—usually when sentiment gets this dark, reversals aren't far behind. The combination of oversold technicals and capitulation liquidations could be setting up for the bounce we're waiting on.