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

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

Surging metals prices and dovish comments from leading Fed chair contender Chris Waller were among the news items possibly boosting crypto prices.

By James Van Straten, Helene Braun, Krisztian Sandor|Edited by Stephen Alpher

Updated Dec 17, 2025, 3:29 p.m. Published Dec 17, 2025, 3:19 p.m.

(Source: CoinDesk Indices)

What to know:

• Crypto prices surged higher early in the U.S. trading day, sending bitcoin (BTC) back above $90,000.
• Silver was ahead by nearly 5%, moving to a new record above $66 per ounce; gold and copper were gaining as well.
• Now the leading contender to be the next Fed chairman, Fed Governor Chris Waller suggested rates are 50-100 basis points above the neutral level.

Crypto prices experienced a rare spike higher just after U.S. stocks opened for trade on Wednesday, taking bitcoin BTC$87,018.43 back above the $90,000 level for the first time since last weekend.

Among possible bullish catalysts were continued big gains in metals prices, with silver ahead about 5% to a new record above $66 per ounce. Gold and copper were also each higher by more than 1%.

STORY CONTINUES BELOW

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Now leading in prediction markets to be the next chairman of the Federal Reserve, current Fed Governor Chris Waller was on the tape with dovish remarks, suggesting the neutral fed funds rate was 50-100 basis points below the level. He added that the U.S. now is close to zero jobs growth and that he doesn't expect a rebound in inflation.

According to Coinglass data, open interest fell from 669k BTC to 665k BTC while the price moved higher. This suggests shorts are covering rather than new leverage entering the market. The move looks like a delveraging rally, driven by shorts closing positions instead of fresh longs piling in.

All told, bitcoin is now ahead about 3% over the past 24 hours. Bitcoin bulls could be forgiven for any excitement over what isn't that large of a move. Muscle memory over the past several weeks, however, has trained crypto fans to brace for sizable drawdowns during the U.S. market day, particularly around the open. Any sustainable change to that pattern would surely be notable.

The major U.S. stock market averages are little-changed early in their session and the 10-year U.S. Treasury yield is lower by two basis points to 4.15%.

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Bitcoin shorts scramble for the exits as BTC climbs

By James Van Straten, Oliver Knight|Edited by Sheldon Reback

4 minutes ago

Bitcoin surged from an intraday low near $86,200 to reclaim $90,000, driven by aggressive spot buying and a wave of short liquidations.

What to know:

• Over $110 million in bitcoin short positions were liquidated in the past hour, according to Coinglass, alongside a muted rise in open interest
• The action points to spot-driven demand rather than leveraged bets driving BTC's surge to $90,000.
• Bitcoin’s cumulative volume delta jumped 1,100% during the rally, signaling aggressive buying pressure not seen since early December.
• Global Macro Investor’s Julien Bittel says an "oversold" RSI reading supports a prolonged bull market, arguing the traditional four-year cycle has broken down as bitcoin dominance climbs toward 60%.

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