The price of Bitcoin (BTC) has remained steady around $90,000, even as geopolitical tensions between the United States and Venezuela escalated dramatically early Saturday morning.
Bitcoin dipped briefly below $90,000 on Saturday but quickly recovered, trading above that threshold at the time of this writing.
“The US bombed a country and captured its leader, on a weekend no less, and yet Bitcoin has hardly flinched,” noted Nic Puckrin, market analyst and founder of the crypto media outlet Coin Bureau, in a post on X post.
BTC is trading above the 21-day moving average, and maintaining this position signals potential price growth this January, according to market analyst Michaël van de Poppe.
The stability of BTC amid recent geopolitical chaos is noteworthy, as risk-on assets like BTC usually experience quick drops during geopolitical upheavals or macroeconomic challenges.
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US President Trump announces military action against Venezuela, but will tensions escalate further?
US President Donald Trump declared airstrikes on Venezuela’s capital of Caracas on Saturday, culminating in the capture of President Nicolas Maduro.
The announcement sparked mixed reactions online, from support to criticism, but has thus far had little impact on financial markets.
“There’s a lot of geopolitical unrest, and as the major players return next week, we can expect more volatility in Bitcoin after the weekend,” said crypto market analyst and trader Lennaert Snyder said.
Institutional investors in traditional markets usually remain inactive during weekends, evenings, or holidays. These institutional players may react to this news when the US market opens on Monday, potentially selling assets and increasing market volatility.
This may intensify selling pressure, contributing to Bitcoin’s recent price drop, which began after a flash crash in October that disrupted Bitcoin’s upward trajectory.
The price of BTC fell over 30% from its all-time high of above $125,000 to a low near $80,000 in November due to that crash before rebounding to the $90,000 mark.
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