- Bitcoin reclaimed $90K as ETH and major altcoins rebounded 7%–10%.
- Vanguard and Bank of America added fuel to the rally with new crypto-friendly policies.
- Macro risks remain, but derivatives positioning shows traders expect continued upside.
Bitcoin surged back above $90,000 on Tuesday morning in the U.S., recovering most of its steep Sunday–Monday decline that briefly pushed it below $84,000. The largest cryptocurrency is up roughly 8% in the last 24 hours, helping lift the broader digital asset market. Ethereum climbed 9% toward the $3,000 mark, while major altcoins — including XRP, Solana, and Dogecoin — rebounded between 7% and 10% from recent lows.
Institutional Momentum Boosts Sentiment
The rebound arrived just as mega-institutions sent fresh bullish signals to the market. Vanguard — with more than $11 trillion in assets — reversed its years-long anti-crypto stance and will now allow clients to trade digital-asset ETFs. At the same time, Bank of America authorized advisers to recommend 1%–4% allocations to spot Bitcoin ETFs. These two policy shifts alone injected a wave of confidence back into the market, reinforcing the narrative that institutional adoption is accelerating even during heavy volatility.
Analysts Warn Japan Yield Shock Could Pressure BTC
However, not all macro signals are bullish. Mark Connors, founder and chief macro strategist at Risk Dimensions and former Credit Suisse global risk head, warned that rising Japanese government bond yields could trigger capital outflows across risk markets. Crypto — especially Bitcoin — may be among the most vulnerable due to sensitivity to Asian liquidity and high leverage exposure. He highlighted Binance’s 50x leverage offerings and its dominance in global trading volume as potential points of fragility if yen or yuan volatility spikes. Connors also noted that Bitcoin appears to be leading downside pressure in the S&P 500 ahead of key Federal Reserve and Bank of Japan meetings.
Derivatives Data Suggests Traders Expect Continued Upside
Despite the macro risks, several indicators point to resilience. Jasper De Maere, desk strategist at Wintermute, said Bitcoin derivatives markets are showing “bullish, low-volatility behavior.” Traders are selling bearish puts at $80,000–$85,000 while accumulating longer-dated bullish options — a combination typically seen when the market views current levels as strong support. According to De Maere, the positioning implies traders are comfortable holding long exposure into the end of the year while generating additional yield.
