Bitcoin (BTC $87,977.06) climbed early Wednesday, briefly pushing back above the $90,000 level for the first time since last weekend after the U.S. market opened.
The move was supported by continued gains in metals, with silver up about 5% to a record above $66 per ounce, while gold and copper each rose more than 1%, reinforcing risk-on sentiment.
Dovish comments from Federal Reserve Governor Chris Waller, the leading candidate in prediction markets for the next Fed chair, also helped boost crypto sentiment. Waller said the neutral federal funds rate is 50–100 basis points below current levels, noted near-zero U.S. job growth, and signaled limited risk of an inflation rebound.
Data from Coinglass showed BTC open interest slightly falling from 669k to 665k, suggesting the rally was driven by short-covering rather than fresh leveraged buying—a classic deleveraging move.
Over the past 24 hours, bitcoin has gained roughly 3%, a modest advance amid typical U.S. session volatility. Major U.S. stock indices were largely flat, and the 10-year Treasury yield edged down two basis points to 4.15%.
