Bitcoin has successfully reclaimed the $90,000 price level, a move that marks a recovery to a significant psychological and technical milestone for the leading cryptocurrency. Initial reports highlighted the importance of this level as traders monitored stability for directional cues. Further market data indicates that this rebound was primarily driven by buying pressure during US trading hours. Unlike previous rallies fueled by leveraged speculation, notable traders have observed that this latest leg up appears to be characterized by spot market purchases. It is reported that derivatives market participants have not yet fully returned to the market, and open interest remains relatively low compared to previous peaks. [Update 1] Added details regarding the specific drivers of the price action, identifying strong US spot demand and a lack of significant derivatives leverage as key factors.