On the first day of the new week, Bitcoin, along with Asian and global market trends, surged above $93,000, marking one of the first strong price moves of the year. At the same time, other major cryptocurrencies such as Ethereum joined Bitcoin’s rise, and the crypto market entered a phase where investors began to reposition themselves. Analysts note that geopolitical developments significantly influenced price movements as traditional markets remained closed, highlighting a renewed interest and appetite for risk in global markets.
Global Appetite for Risk Favors Cryptocurrencies
At around 4:00 AM TSI, Bitcoin rose over 2% to reach $93,204. During this period, Ethereum climbed to $3,194, while other major cryptocurrencies like XRP, BNB, and Solana recorded increases ranging from 2% to 5%. According to Presto Research analyst Min Jung, the rise is not exclusive to cryptocurrencies as Asian stock markets, such as South Korea’s Kospi and Japan’s Nikkei indices, also increased by over 2%.
Jung noted that in the first week of the new year, investors were reshaping their portfolios, viewing Bitcoin at current price levels as an attractive entry point. Geopolitical factors have the potential to increase volatility in global markets, and cryptocurrencies are emerging as tools that rapidly absorb these fluctuations.
Nick Ruck, Director of LVRG Research, states that as the business world resumes activity after the holiday season, investor interest is reviving, with institutional accumulation continuing during this consolidation phase. Ruck believes that the $95,000 level is a technically critical threshold for Bitcoin in the short term.
Venezuelan Developments Impact Market Dynamics
Market movements are also influenced by developments centered in Venezuela. CoinEx Research Chief Analyst Jeff Ko highlights that U.S. operations in Venezuela, particularly affecting the energy sector, are expected to have global repercussions. It is well-known that Venezuela’s ousted leader Nicolás Maduro and his wife were brought to New York following a U.S. military operation in Caracas.
Following this incident, slight declines were observed in the prices of U.S. crude and Brent oil. According to Al Jazeera, Middle Eastern risks are also being re-highlighted. Ko suggests that with traditional markets closed, cryptocurrencies have become the primary liquidity areas absorbing news flow, with price surges reflecting positive sentiment towards risky assets.
The rapid increase has also triggered a significant wave of liquidations in a short time. Coinglass data indicates that approximately $141 million worth of positions were closed in the last four hours, primarily consisting of short positions. Kronos Research CIO Vincent Liu mentions that investors are closely monitoring upcoming Fed meeting minutes and U.S. unemployment claims, with macroeconomic outlooks playing a decisive role in price sustainability.
