"Bitcoin climbed back above $90,000 on Tuesday, recovering from a bruising selloff that caught Wall Street off guard and erased nearly $1 billion in fresh leveraged bets. The rebound offered a brief respite in a months-long rout, but traders remain cautious, with sentiment still fragile and signs of stress persisting across crypto markets. The original cryptocurrency rallied as much as 5.6% to $91,269, while its next biggest rival Ether rebounded by more than 8% to push its price back above $3,000."
"Even so, several metrics point to a potentially uneven recovery, market watchers said. The Bitcoin funding rate a key measure of crypto market sentiment has turned negative in the last few days, according to CryptoQuant, meaning there is more demand for bearish bets in the perpetual futures market than for bullish positions. Overall sentiment is cautious, said Chris Kim, chief executive of quantitative asset management protocol Axis."
"Virtual currencies associated with US President Donald Trump's family have been caught up in the selloff. Shares of American Bitcoin Corp., the crypto miner co-founded by Eric Trump, wiped out more than half of their value in less than 30 minutes on Tuesday, even as trading in the stock was halted multiple times due to intense volatility. The stock fell as much as 51%."
Bitcoin rebounded above $90,000 after a sharp selloff that erased nearly $1 billion in fresh leveraged bets, while Ether recovered above $3,000 and smaller tokens posted double-digit gains. Several metrics indicate an uneven recovery: the Bitcoin funding rate has turned negative, signaling greater demand for bearish perpetual-futures positions than bullish ones. Sentiment remains cautious, with crypto-native traders nervous and institutional investors largely awaiting the Federal Reserve's upcoming interest-rate decision before adding risk. Bitcoin is down about 30% since its early-October record after roughly $19 billion in leveraged positions were wiped out, and some Trump-linked crypto assets plunged.
Read at www.mercurynews.com
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