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

• 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$86,564.14 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%.

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%.

• As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
• GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
• Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.

• Bitcoin remains under pressure, hovering near $87,000, with analysts warning of potential further declines into early 2026.
• Traders are positioning for downside risks, with a significant build-up of put options indicating expectations of a dip below $85,000.
• Despite recent resilience, long-term holders have reduced their bitcoin holdings, and geopolitical risks and leverage conditions are expected to drive market volatility into 2026.

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