Bitcoin Soars Above $91,000 as Global Markets Rebound

The cryptocurrency market recorded gains for the second consecutive day on Tuesday, as investor sentiment is revived following a recent $555.8 million Bitcoin purchase by Strategy.

Bitcoin (BTC) increased 3.8% over the past 24 hours, trading at $91,000, while Ethereum (ETH) edged up 5.5%, trading at $1,687. XRP climbed 2.5% to $2.16 and SOL surged 6% to $144, according to CoinGecko.

The rally comes as global stock markets rebound after five straight days of losses. The S&P 500 and Nasdaq are up nearly 3% today.

The total cryptocurrency market capitalization rose by 1.5% on the day, reaching $2.94 trillion. Over the past 24 hours, leveraged liquidations totaled approximately $361 million, according to CoinGlass. Bitcoin accounted for around $140 million, Ethereum for roughly $94 million, and altcoins about $30 million.

Meanwhile, U.S. spot Bitcoin exchange-traded funds (ETFs) recorded $381 million in inflows on Monday, the highest since January. In contrast, spot Ethereum ETFs recorded $25 million in outflows on the same day, according to SoSoValue.

Sentiment Boost

Experts attribute the rally to recent Bitcoin purchases by Strategy and Metaplanet, which have helped revitalize investor sentiment after tariff-induced uncertainty. Strategy on Monday announced it purchased more than half a billion dollars worth of BTC, while Metaplanet over the weekend revealed it purchased 330 BTC for around $28.2 million.

"Crypto markets were reactive to the news cycle over the weekend, with Bitcoin surging to over $90K, and holding strong in its $80K–$88K range despite broader economic tension,” said Mena Theodorou, co-founder at Coinstash.

Meanwhile, gold soared to another all-time high above $3,400 USD/oz, inching toward $3,500. “Historically, Bitcoin tends to lag gold during major rallies, a pattern that could hint at further upside for BTC in the weeks ahead,” Theodorou explained.

“More Chaos than Conviction”

Meanwhile, Aran Hawker, CEO at CoinPanel, cautioned that while Bitcoin’s recent push to early-March highs may look bullish on the surface, “it's more about chaos than conviction.”

“The political backdrop, especially Trump’s jab at Powell, has shaken markets, sending equities down and safe-haven flows into gold and BTC,” Hawker said. “In crypto, Bitcoin plays the ‘digital gold’ role, but the market remains thin and highly reactive.”

He explained that while Bitcoin is acting as “digital gold,” the crypto market is still thin and extremely sensitive to shocks. According to Hawker, this surge may not mark the beginning of a sustained bull run, but instead a spike in volatility.

“Big players are exploiting uncertainty, not betting on long-term direction,” he said. “As long as policy chaos continues, expect sharp reversals. BTC will likely correct just as fast, especially with the next headline out of Washington.”