Bitcoin rebounded toward $90,000 in U.S. trading on Wednesday after former President Donald Trump struck a more conciliatory tone on Greenland during a keynote address at the World Economic Forum in Davos.

Trump said the United States would seek negotiations to revisit the potential acquisition of Greenland, emphasizing that the effort would be diplomatic and would not involve force or pose a threat to NATO. “All I’m asking is a piece of ice,” he said during the speech.

He also said an announcement on the next Federal Reserve chair would come “in the not too distant future,” while renewing criticism of current Chair Jerome Powell. Trump, who appointed Powell during his first term, again accused Powell of being slow to respond to economic conditions.

Bitcoin rose about 2.2% from session lows to briefly reclaim the $90,000 level, reversing part of the recent selloff. The rebound followed several days of declines across risk assets, including cryptocurrencies, as investors grew uneasy over escalating U.S.–Europe tensions tied to Greenland. Trump had previously warned of potential tariffs on several European countries.

Gold, which had climbed to a fresh record near $4,900 earlier in the session, retreated as risk sentiment improved.