Bitcoin Stages Sharp Rebound as Volatility Cools and Spot Demand Returns

Bitcoin climbed to roughly $90,500, registering a 5.4% advance over 24 hours and outperforming most major digital assets amid renewed risk appetite. The move followed a notable retracement in implied volatility, with BVIV falling to 50% from last week’s 65%, signaling calmer market conditions.

Options activity reinforced the shift in sentiment, including a $6.5 million call-condor structure targeting the $100,000–$118,000 range. At the same time, persistent call-overwriting continues to limit short-term upside near the $100,000 mark. Crucially, derivatives data indicate the rally was driven by spot accumulation rather than leverage, a dynamic often associated with more durable flows.

Select altcoins (including SKY, DASH, ETHFI, and AVAX) posted gains, though broad market tone remains cautious as momentum indicators approach overheated levels. Market structure now hinges on Bitcoin’s ability to decisively break its October downtrend. A failure at the $100,000 resistance zone could re-expose the market to downside pressure, particularly among higher-beta tokens.

Investors continue to monitor positioning signals rather than headline optimism as the year’s final trading window approaches.

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