Bitcoin briefly climbed above the $90,000 level on Monday before retreating as trading activity shifted across global regions.
The price rose from around $88,000 during Asian trading hours and extended gains into European and early US sessions.
The rally faded later in the day, with Bitcoin sliding back towards the $88,000 region.
Recent price action has followed a recurring pattern of strength in Asian and European markets.
Gains have repeatedly weakened once US traders return, limiting sustained upside momentum.
Data from CoinGlass showed bitcoin futures open interest rose towards $60 billion earlier in the session.
The increase was observed across major venues including Binance, CME and Bybit.
Analysts said rising open interest suggests new leveraged positions rather than short covering.
Higher leverage alongside rising prices can amplify gains but also increase downside risk.
If momentum stalls, crowded long positions could unwind quickly, triggering sharp pullbacks.
Conversely, a sustained rally could see leverage accelerate further upside.
Bitcoin failed to maintain traction above $90,000, reinforcing near-term resistance at that level.