Bitcoin is rebounding sharply, initially reclaiming the $90,000 area and approaching $91,000 on major venues in a move driven largely by aggressive short liquidations. On some exchanges, Bitcoin was trading around $90,000–$90,500 as it pushed toward $91,000, putting it on track for its largest daily gain since May 2025. This momentum was fueled by roughly $140 million of short liquidations within a single hour, compared to minimal long liquidations. The rally has since intensified, with Bitcoin surging past the $93,000 mark, recording a significant intraday gain. This sharp upward movement has added approximately $200 billion to its market capitalization over the last 36 hours. The volatility in the derivatives market has escalated, with reports now indicating nearly $400 million in leveraged short positions have been liquidated within a 24-hour window. Market participants note that Bitcoin broke through major bull market support bands previously, but strong buy-the-dip demand has reversed the trend. Additionally, Coinbase Institutional has cited Federal Reserve bond market activity as a potential bullish catalyst supporting this move. [Update 1] Bitcoin has broken through $93,000, extending the rally. Short liquidations have mounted to nearly $400 million over 24 hours, and market cap has increased by $200 billion in 36 hours.