Crypto markets saw renewed optimism on Tuesday as major financial institutions stepped closer to digital assets, helping fuel a strong rebound across leading tokens.
Bitcoin climbed back above $90,000 during U.S. morning hours, recovering nearly all of its steep slide from the weekend that briefly drove prices below $84,000. The world’s largest cryptocurrency last traded near $91,180, up roughly 8% over the past 24 hours and providing a lift to the broader market.
Ethereum also regained ground, pushing above $3,000 with a 9% daily rise. Large-cap altcoins joined the momentum: XRP, Solana’s SOL and dogecoin posted gains of 7%–10% as they bounced from recent lows.
The recovery came alongside a major policy shift at Vanguard, the $11 trillion asset manager, which has ended its longstanding prohibition on crypto exposure and will now allow clients to access digital asset ETFs. Bank of America likewise moved toward broader adoption, approving guidance that permits its wealth advisers to recommend a 1%–4% allocation to spot bitcoin ETFs.
Analysts warn Japanese bond moves could weigh on crypto
Despite Tuesday’s gains, analysts highlighted potential macro risks. Mark Connors, founder and chief macro strategist at Risk Dimensions and former global head of risk advisory at Credit Suisse, warned that a jump in Japan’s 10-year government bond yield could draw capital out of global markets. Crypto—especially bitcoin—could feel the pressure due to its ties to Asian liquidity flows and high leverage.
He noted that Binance, which accounts for nearly half of global crypto trading and offers leverage of up to 50x, could be particularly exposed to volatility in the yen and yuan. Connors also observed that bitcoin appears to be leading recent weakness in the S&P 500, a trend he believes may continue until the Federal Reserve and Bank of Japan issue their policy updates later this month. If conditions worsen, he expects policymakers to intervene, as has frequently occurred during recent periods of financial strain.
Yet some indicators point to underlying strength. Jasper De Maere, desk strategist at Wintermute, said derivatives markets show “a clear lean toward bullish, short-vol behaviour.” Traders are actively selling downside puts in the $80,000–$85,000 region while selectively positioning for upside later in the year.
“The mix suggests the market views $80,000–$85,000 as a supported zone and is comfortable leaning long into year-end while earning carry along the way,” De Maere said — signaling confidence in a medium-term recovery despite near-term macro uncertainty.
