Bitcoin Reclaims $94K as Crypto Market Momentum Accelerates

Bitcoin made a sharp comeback on Tuesday, surging from just above $90,000 to retake the $94,000 level in under an hour. After a quiet U.S. morning session, BTC jumped more than $3,000 shortly after 16:00 UTC, marking a 4% gain over the past 24 hours and signaling renewed strength in the crypto market. Ethereum also rallied, with ETH climbing 5%, while Cardano (ADA) and Chainlink (LINK) posted even larger percentage gains.

The sudden upswing came as silver prices hit new record highs above $60 per ounce, though broader equity markets remained largely unchanged. Crypto-related stocks, however, moved higher alongside bitcoin. Galaxy Digital and CleanSpark led the charge with gains of more than 10%, while Coinbase, MicroStrategy, and BitMine shares increased between 4% and 6%.

Despite the strong move, analysts noted that no single clear catalyst triggered the rally. Instead, the shift may reflect seller exhaustion after weeks of bitcoin weakness during U.S. market hours. Vetle Lunde of K33 Research highlighted “deeply defensive” positioning in crypto derivatives, suggesting bearish overcrowding may have contributed to the rapid price reversal.

Additional signs of fading bearish sentiment appeared when Standard Chartered’s prominent bitcoin bull Geoff Kendrick cut his long-term BTC price outlook, a move some view as further evidence of capitulation. Meanwhile, the Coinbase bitcoin premium recently flipped positive, indicating revived demand from U.S.-based investors compared to offshore exchanges like Binance.

Market structure data also supports the notion of genuine spot buying rather than leveraged speculation, as BTC’s price gain outpaced derivatives open interest growth. With the Federal Reserve expected to cut interest rates by 25 basis points on Wednesday, improving financial conditions and a resilient U.S. economy may continue to boost risk appetite across crypto markets.