Bitcoin rises above $89,000, showing rare gain in U.S. trading

Open interest data suggests the advance is likely short-covering, rather than fresh longs entering the market.\nWhat to know : Bitcoin was trading higher during U.S. market hours, marking a notable shift after a month in which BTC fell roughly 20 percent cumulatively while American stocks were open. Declining open interest suggests the move is driven by short-covering rather than fresh leveraged longs. Broader crypto markets remain fragile as ETF outflows, tax-related positioning, and light holiday liquidity pressure prices.