Bitcoin tops $93,000 as markets digest US operations in Venezuela

Bitcoin rose above $93,000 on Sunday night, with Ethereum and other major cryptocurrencies extending gains as part of a broader “everything rally,” analysts said.

The world’s largest cryptocurrency was trading at $93,113 as of 10:00 p.m. ET Sunday, up 2.1% over the past 24 hours, according to The Block’s price page. Ethereum climbed 1.7% to $3,194. XRP gained 5.5%, BNB advanced 2.3%, and Solana added 2.3%.

Min Jung, research associate of Presto Research, told The Block that the crypto rally appears to be part of a broader “everything rally,” with Asian equity markets such as the Kospi and Nikkei rising more than 2%.

South Korea’s Kospi index rose 2.83% by Monday noon, while Japan’s Nikkei climbed 2.82%.

“The first week of the new year often sees fresh positioning from investors, and bitcoin is likely being viewed as an attractive entry point at current levels,” said Jung. “Traders are also closely monitoring geopolitical developments, which remain a key source of potential volatility across global markets.”

Nick Ruck, director of LVRG Research, shared similar views, saying bitcoin’s push appears driven by renewed investor interest as businesses reopen for the new year, alongside continued institutional accumulation during a consolidating market

“Traders are closely monitoring key resistance levels around $95,000 for signs of a sustained breakout, alongside potential impacts from broader macroeconomic shifts and ETF flow dynamics in early 2026,” said Ruck.

Beyond the primary cryptocurrencies, the memecoin sector saw a significant rally. According to The Block’s crypto price page, Shiba Inu was up 5.5%, Pepe jumped 9% and Bonk rose 9.7%. Pudgy Penguins also gained 7%. Dogecoin, however, slipped 0.6%.

With the sudden rally, the market saw roughly $141.2 million in liquidations in the past four hours, including about $133 million in short positions, according to public data aggregated on Coinglass. Liquidations occur when a trader’s positions in a particular market are forcibly closed due to significant losses or insufficient margin to meet the maintenance requirements.

Eyes on Venezuela

Jeff Ko, chief analyst at CoinEx Research, said that market participants are closely monitoring U.S. operations in Venezuela, particularly for signs of a strategic entry into the nation’s oil sector.

Nicolás Maduro, the ousted president of Venezuela, and his wife arrived in New York on Saturday, hours after being captured in a U.S. military operation in Caracas, the New York Times reported. Maduro is expected to face charges related to narco-terrorism and drug trafficking.

Following the news, U.S. crude oil futures (WTI) slipped 0.35%, while the global benchmark, known as Brent crude oil, fell 0.2%.

The seizure of Maduro has also heightened concerns about a potential escalation in the conflict with Iran, according to Al Jazeera. Hours after the Venezuela operation, Israeli opposition leader Yair Lapid issued a warning to Iran, saying: “The regime in Iran should pay close attention to what is happening in Venezuela.”

Ko said that with traditional markets closed over the weekend, cryptocurrencies became the primary liquid venue for absorbing the news, with the rally indicating that investors broadly interpreted the developments as generally bullish for risk assets.

“Looking ahead, the opening of U.S. equity markets will be a key test,” Ko added. “A green open would reinforce the bullish read on the Venezuela developments and support BTC holding above the $92,000 level.”

Vincent Liu, CIO of Kronos Research, noted that traders are also watching the potential impact of last week’s Federal Reserve meeting minutes on rate guidance, as well as the upcoming U.S. jobless claims data. “Macro clarity will determine whether BTC sees follow-through or fades,” said Liu.