The U.S. military operation in Venezuela and the subsequent repositioning in global markets temporarily drove Bitcoin’s price above $93,000. The surge observed in the early days of the new year was fueled by a confluence of geopolitical developments, leverage unwind in the futures markets, and technical breakouts. Risk-averse investors lagged behind, while price-focused purchases took the spotlight. Analysts concur that entering 2026 with more straightforward positions supports the upward movement.
A “Clean Slate” in the Crypto Market and Geopolitical Impact
The crypto market entered 2026 after significant speculative risks accumulated in the last quarter of 2025 were largely liquidated. Matrixport highlighted that since the last peak reached in October, approximately $30 billion in leveraged positions were resolved in Bitcoin and Ethereum futures, thereby laying a more stable foundation for the market. According to the institution, low position levels during the New Year holiday made price movements more decisive and strengthened the buying momentum.
During the same period, news flow from Latin America impacted global risk perception. Following the U.S. military operation in Venezuela, the arrest of President Nicolas Maduro on January 3 reignited claims regarding the country’s stance on cryptocurrencies. Intelligence assessments suggested Caracas might use Bitcoin and USDT in oil and gold trades to circumvent sanctions.
These claims sparked debate about Venezuela possibly controlling a secret reserve of up to 600,000 BTC. If seized by the U.S., these assets could either be absorbed as strategic reserves or frozen long-term, reinforcing the expectation of reduced circulating supply. Market participants are pricing this scenario as structurally positive for Bitcoin.
Increased Trading Volume Spurs Technical Breakout
The price activity on the front lines is also supported by technical indicators. Bitcoin gained over 2% in the last 24 hours, briefly surpassing $93,000. Intraday trades ranged between $90,877 and $93,204, with trading volume rising by 41%, signaling strengthening buyer interest.
Market analyst Joe Consorti reported that Bitcoin broke above the 50-day moving average for the first time since October 2025. This technical level indicates weakened selling pressure, with the price returning to levels seen at the start of December. According to Consorti, if the 50-week average of $101,000 is decisively surpassed, a new rally may be possible.
Breaking above both the 200-period moving average and the exponential moving average on the four-hour chart also signals a bullish trend in the short to medium term. Analysts suggest that if the $94,000 range is exceeded, the upward momentum might accelerate, while failure to do so could lead to a brief price consolidation.
