Crypto markets edge higher despite US-Venezuela tensions; Bitcoin near $93,000

The crypto market traded higher over the weekend, even as geopolitical tensions escalated following a US strike on Venezuela, an event that would typically weigh on risk assets. Bitcoin climbed nearly 2% over the weekend to $92,900–$93,000, staying close to its year-to-date highs. Meanwhile, Ethereum was trading at above $3,000 level.

The cryptocurrency and Ethereum were trading at $92,403 and $3,162, respectively, on Monday, according to data by CoinMarketCap.

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In the past 24 hours, Bitcoin and Ethereum were up by 1.06% and 0.38% respectively. Among the major altcoins, XRP, BNB, Solana, Tron, and Hyperliquid were up by over 5% in the past 24 hours, whereas Dogecoin and Cardano were down by 1.07% and 0.50% respectively. The global crypto market capitalisation went up 0.86% to $3.14 trillion, according to CoinMarketCap.

Riya Sehgal, Research Analyst, Delta Exchange, says the rebound came despite heightened geopolitical tensions after the U.S. strike on Venezuela, which typically pressures risk assets. However, Bitcoin benefited from its safe-haven narrative, short-covering near key levels ($91.5–93K), and strong stablecoin inflows, underscoring resilience ahead of traditional markets reopening.

Sehgal further added that overall, the market tone is constructive, with BTC and ETH showing strong technical setups, though geopolitical risks and TradFi reactions may influence near-term volatility.

Akshat Siddhant, Lead Quant Analyst, Mudrex is of the view that the crypto market is showing a strong uptrend following geopolitical developments in Venezuela, as investors move to safe havens like crypto and the rally is supported by a strong return of institutional interest, with crypto ETFs recording about $646 million in net inflows on the first trading day of the year after December’s heavy selling.

“Sentiment is also improving, as the Fear-Greed Index turned neutral for the first time since October. Currently trading near $92,800, if BTC closes above $93,700, momentum could carry it toward $100,000, with support forming near $88,500,” Siddhant further added.

Bitcoin and Ethereum were up by 2.47% and 3.97% respectively, in the past week. Among the major altcoins, XRP, BNB, Solana, Tron, Dogecoin, Cardano, and Hyperliquid gained up to 18% in the past week.

CoinDCX Research Team said the crypto markets have been bullish since the start of the month, with Bitcoin prices surging above $93,000, and this move has made traders more confident, as other altcoins have also performed well over the weekend.

“Market participants have yet again turned to memecoins as the sector’s market cap surged beyond $45 billion, up by more than 20% within a week. Despite the tense geopolitical landscape, Bitcoin remains stable, signalling that the markets are maturing,” CoinDCX Research Team added.

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Market perspective

CoinSwitch Markets Desk

The move was largely driven by a liquidation flush, with around $180 million in futures positions wiped out by yesterday afternoon, mostly shorts, forcing buybacks as prices pushed above $91K and momentum carried higher.

Political headlines from Venezuela added a short-term volatility trigger, prompting traders to reduce downside exposure rather than signalling a shift in fundamentals. BTC holding above $93K will keep the market constructive and support a gradual upside bias.

Vikram Subburaj, CEO, Giottus

Bitcoin’s move back above $90,000 has eased immediate downside pressure. However, the market is not behaving as if it has fully turned the corner. Geopolitical developments, including the US strike on Venezuela, have added uncertainty without triggering panic. This has kept the markets in a wait-and-watch mode ahead of the return of full TradFi liquidity.

Nischal Shetty, Founder, WazirX

Geopolitical shocks have driven short-term volatility, with developments around the US-Venezuela situation triggering rapid repricing across digital assets. This reflects how elevated geopolitical risk premiums are spilling into crypto markets

Looking ahead, inflation trends, monetary policy direction, and geopolitical risk are expected to remain core drivers of crypto pricing through 2026.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)