The bitcoin price (BTC) briefly surged above $90,000 early Wednesday in U.S. trading, only to tumble back below $87,000 within minutes, reflecting a fragile and volatile crypto market.

The largest cryptocurrency rallied from roughly $87,000 to above $90,000 around 10:00 a.m EST before rapidly retracing to the $86,500–$87,500 range. 

At the time of writing, Bitcoin price was near $86,000, down over 0.5% over the past 24 hours despite having been higher by more than 3% minutes earlier. 

The swift swings triggered more than $190 million in liquidations across crypto derivatives markets, hitting both long positions — bets on rising prices — worth $72 million, and short…

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