Bitcoin re-takes $90,000 as price spikes early in U.S. session

Bitcoin's price surged back above $90,000 early on Wednesday, coinciding with the opening of U.S. stock markets, marking a rare upward move during this period in recent weeks. Potential bullish catalysts included significant gains in metals prices, with silver hitting a new record above $66 per ounce, and dovish remarks from Fed Governor Chris Waller, who suggested the neutral fed funds rate is lower than current levels and does not anticipate an inflation rebound. Data indicated that the price increase was likely driven by short sellers covering their positions, rather than new long positions entering the market, suggesting a deleveraging rally. While Bitcoin was up about 3% over 24 hours, any sustained break from the recent pattern of U.S. market-day drawdowns would be notable for crypto enthusiasts.

(Source：CoinDesk)