Bitcoin rose to about $89,500 on Wednesday morning, rebounding more than 1 percent from its session low.
The move came after former President Donald Trump struck a more conciliatory tone on U.S. efforts to acquire Greenland during a keynote speech at the World Economic Forum in Davos.
Gold retreated from a record high near $4,900 as risk assets, including cryptocurrencies, attempted to stabilize after several days of sharp declines.
