Bitcoin briefly approached $93,000 on Monday as traders embraced a renewed risk appetite across markets following the U.S. removal of Venezuela, while year-opening flows pushed major tokens higher after a volatile end to 2025.
BTC saw an increase of about 1% over the last 24 hours and around 3% over the past week, while ether remained close to $3,160, also showing daily gains. XRP climbed approximately 3% to above $2.10, building on its early January momentum, while Solana stayed around $136. Dogecoin dipped slightly on the day but maintained a 17% increase over the past week, representing the highest gains among major cryptocurrencies.
Derivatives positioning contributed to the upward movement, with liquidations exceeding $260 million within 24 hours, predominantly due to shorts amounting to around $200 million, indicating late sellers were compelled to cover as prices increased.
The rally coincided with strength in risk assets and another surge in commodities. Asian equities reached a record high as investors flocked to technology stocks, continuing last year’s momentum fueled by AI. Brent crude stabilized after initial weakness related to the Venezuela developments, while gold surged back above $4,400 an ounce, and silver experienced an even steeper rise.
Market participants noted that the start-of-year enthusiasm reflects a combination of positioning and relative value, with cryptocurrencies still significantly below their peak levels while other assets hover near record highs.
“In the new year, we believe traders are entering the market to take advantage of price inefficiencies,” said Jeff Mei, chief operating officer at BTSE, in a Telegram message, highlighting that cryptocurrencies remain considerably below their all-time highs, unlike equities and precious metals, which continue to set new records.
The market movement began over the weekend following the U.S. taking custody of Venezuelan president Nicolás Maduro, with Donald Trump indicating a
He also mentioned that U.S. ground troops would not be necessary as long as acting Venezuelan president Delcy Rodríguez “complies with our demands.”
