Risk Appetite Increases in Markets Amidst the US-Venezuela Crisis! Bitcoin Surpasses $93,000! Here Are the Details

Bitcoin experienced a strong rally, climbing above the $93,000 level as risk appetite increased again in global markets.

According to analysts, this move is a surge triggered by the markets beginning to digest the recent US operations in Venezuela.

Bitcoin was trading at $93,400 a few hours ago and has gained 2.1% in the last 24 hours. Ethereum rose 1.7% to $3,194, while XRP increased by 5.5%, BNB by 2.3%, and Solana by 2.3%. Significant increases were also seen in memecoins; Shiba Inu rose 5.5%, Pepe by 9%, and Bonk by 9.7%.

Min Jung of Presto Research noted that this rise in the cryptocurrency market parallels the strong performance of Asian stock markets. The South Korean Kospi index and the Japanese Nikkei index both rose by over 2%. According to Jung, investors taking new positions in the first weeks of the year makes Bitcoin an attractive entry point.

On the other hand, CoinEx Research Chief Analyst Jeff Ko said the market is closely monitoring the US military operations in Venezuela and their potential impact on energy markets. While oil prices saw limited pullbacks following developments in Venezuela, cryptocurrencies, being open over the weekend, were noted as being the first asset class to price in the news flow.

Experts emphasize that the $95,000 level is a significant resistance point for Bitcoin, while noting that the opening of US stock markets and macroeconomic data will be decisive in terms of the sustainability of the rally.

*This is not investment advice.

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