Bitcoin experienced a dramatic V-shaped recovery, reaching an intraday high of $91,107 following a sharp decline earlier in the week. The surge was fueled by positive developments such as Vanguard's launch of a cryptocurrency ETF and U.S. Bank's announcement that its private wealth management division will allow investors to allocate 1% to 4% in Bitcoin starting January next year. These institutional moves contributed to the liquidation of approximately $221 million in short positions within four hours, underscoring the growing interest and support for Bitcoin among major financial entities.