Bitcoin surged more than 1% during the Asian trading hours on Monday, setting itself up for a five-day winning streak, the longest since early October.
Leading cryptocurrency in market capitalization jumped from approximately $91,480 to $92,500, according to CoinDesk data. At its peak, prices exceeded $93,000. Major alternative cryptocurrencies like , solana , and ether increased between 0.7% and 1%. The CoinDesk 20 and CoinDesk 80 Indexes both gained 1.5%, suggesting a positive sentiment in the wider market.
“Market sentiment is on the rise, with both Bitcoin and Ethereum entering bullish phases,” stated Markus Thielen, founder of 10x Research, recently recognized as the top crypto analyst, in a Telegram message to CoinDesk.
“We became optimistic after the late-December options expiration, expecting that tax-related selling would decrease and that trading desks would regain the flexibility to engage in risk-taking as the new year begins,” Thielen noted.
Bitcoin and the broader cryptocurrency market largely remained subdued in December as U.S. holders reportedly sold their holdings at a loss to balance their capital gains and minimize their overall tax liabilities. Investors purposefully realize losses on underperforming investments to decrease the tax owed on profitable transactions.
Bitcoin underperformed against Nasdaq, gold, and other precious metals throughout 2025, finishing the year with a 6% decline. The performance was particularly poor during North American trading hours in the final weeks of the year.
The recent uptick in Bitcoin coincides with renewed geopolitical tension following the U.S. capture of Venezuelan President Nicolás Maduro. This increase is increasingly being seen as indicative of cryptocurrencies drawing safe-haven interest.
“We interpret the simultaneous rise across multiple asset classes after U.S. military actions in Venezuela as a classic flight to quality. Safe-haven assets like gold and silver are experiencing significant rallies as investors factor in heightened geopolitical risks that may persist or escalate,” stated Ryan Lee, chief analyst at cryptocurrency exchange Bitget, in an email.
“Oil prices, at this point, remain relatively stable around the $60 per barrel mark, which alleviates immediate inflation concerns, yet markets are clearly factoring in potential future energy disruptions and tighter liquidity conditions that may push the Federal Reserve to maintain elevated interest rates for an extended period,” Lee added.
Looking forward, the sentiment remains optimistic as long as Bitcoin’s price stays above the 21-day exponential moving average, according to Thielen.
“Initial ETF inflows have been promising, and as long as Bitcoin remains above its 21-day moving average, the short-term outlook remains tilted towards the upside,” Thielen remarked.
The 11 bitcoin spot exchange-traded funds (ETFs) attracted over $471 million on Friday, marking the largest single-day total since November 11, based on data from SoSoValue.
