On Saturday, Bitcoin (BTC) fell below $90,000 as the cryptocurrency markets responded to the US military actions in Venezuela.
Highlight Points:
Bitcoin is striving to maintain recent gains amidst US attacks on Caracas, Venezuela’s capital.
There is a sense of optimism among traders regarding BTC’s price movement as long as specific levels are sustained.
Gold starts to weaken on lower timeframes, while Bitcoin’s gains have reached 5% since Christmas.
Bitcoin Confronts “Geopolitical Pressure” at $90,000
Data from TradingView indicated that BTC price action reversed after peaking around $90,940 on Bitstamp.
Following reports of US airstrikes in Caracas, a statement from President Donald Trump on Truth Social claimed that the President of Venezuela had been captured and “flown out of the country.”
With traditional markets shut, BTC/USD aimed to preserve some of its early-year gains ahead of futures trading reopening on Sunday.
“We’re observing some short-term selling pressure due to ongoing US actions in Venezuela, but I remain optimistic in the near term,” analytics account @Wealthmanager commented in a post on X.
“If the situation doesn’t escalate, I see this as a temporary setback, likely to be followed by a rebound. $96,000–$100,000 remains my target for the upcoming days/weeks.”
Wealthmanager highlighted that CME Group’s Bitcoin futures market had concluded the week above $90,000, potentially establishing a new “gap” and related price target upward.
Crypto analyst Lennaert Snyder concurred that much depended on the return of traditional finance next week.
“There’s significant geopolitical tension, and next week, the major players will be back. We can expect increased volatility in Bitcoin after the weekend,” he shared with X followers.
Crypto trader, analyst, and entrepreneur Michaël van de Poppe described Bitcoin’s latest movement as a “classic” reaction to Venezuela, maintaining a bullish perspective.
“The trend for January is clear: upward we go, as long as Bitcoin stays above the 21-Day MA,” he concluded, referencing the 21-day simple moving average at $87,850.
BTC Price Starts to Compete with Gold Bull Run
Bulls also focused on Bitcoin’s relatively robust performance against gold during the New Year.
Related: Bitfinex whales bet on BTC for 2026: 5 things to know about Bitcoin this week
After hitting new all-time highs of $4,551 per ounce on December 26, XAU/USD fell by as much as 6% before stabilizing. In contrast, BTC/USD improved by up to 5%.
“An important consideration is that the previous parabolic rally of Bitcoin started after gold peaked,” remarked trading and analytics source Bull Theory on this matter.
“If $4550 was indeed the peak for gold, this could signal a rotation of funds from gold to BTC.”
As reported by Cointelegraph, gold ended 2025 as the year’s top-performing major asset, while Bitcoin lagged behind despite its all-time highs in October.
This article does not constitute investment advice or recommendations. All investment and trading activities involve risks, and readers are encouraged to conduct their own research when making decisions. While we strive to provide precise and timely information, Cointelegraph does not ensure the accuracy, completeness, or reliability of any information contained in this article. This article may include forward-looking statements subject to risks and uncertainties. Cointelegraph will not be held accountable for any losses or damages arising from reliance on this information.
This article does not constitute investment advice or recommendations. All investment and trading activities involve risks, and readers are encouraged to conduct their own research when making decisions. While we strive to provide precise and timely information, Cointelegraph does not ensure the accuracy, completeness, or reliability of any information contained in this article. This article may include forward-looking statements subject to risks and uncertainties. Cointelegraph will not be held accountable for any losses or damages arising from reliance on this information.
