Bitcoin, Ethereum, XRP, and Dogecoin Surge as Investors Shift Focus Away from Nicolas Maduro and Venezuela: Analyst Suggests BTC Could Climb Toward $105,000

Cryptocurrency Markets Surge Despite Geopolitical Tensions

Major digital currencies experienced significant gains on Monday, mirroring the upward movement in equities as traders appeared to shrug off concerns related to recent U.S. activities in Venezuela.

Key Cryptocurrency Performance

Bearish Sentiment Fades as Crypto Prices Climb

Bitcoin soared past the $94,000 mark, with trading activity increasing by 68% over the previous day. Since the start of U.S. military involvement in Venezuela on Friday night, Bitcoin has added approximately $6,000 to its value.

Ethereum continued its strong start to the year, reaching a session peak of $3,261 and seeing a 78% surge in trading volume, indicating robust buying interest.

According to Coinglass, over $450 million in crypto positions were liquidated in the last 24 hours, with short positions accounting for about $362 million of that total.

Open interest in Bitcoin rose by 2.87% during the same period. Data from Binance shows that more than half of traders with open BTC positions are betting on further price increases.

The Crypto Fear and Greed Index continues to reflect a market dominated by "Extreme Fear."

Top 24-Hour Gainers (Market Cap > $100M)

The total value of all cryptocurrencies globally has climbed to $3.20 trillion, representing a 2.28% increase over the past day.

Stock Market Rallies as Energy Sector Booms

Equity markets also posted strong gains on Monday. The Dow Jones Industrial Average jumped 594.79 points (1.23%) to close at a new record of 48,977.18. The S&P 500 advanced 0.64% to 6,902.0, while the Nasdaq Composite rose 0.69% to finish at 23,395.82.

Energy companies led the rally after President Donald Trump announced that American firms are gearing up to invest billions in Venezuela's oil sector following the removal of Nicolas Maduro. Shares of Chevron Corp. (CVX) and Exxon Mobil Corp. (XOM) ended the day up 5.10% and 2.21%, respectively.

Oil prices also moved higher, with U.S. West Texas Intermediate crude surpassing $58 per barrel.

Bitcoin’s Next Move: Analyst Insights

Lacie Zhang, a research analyst at Bitget Wallet, noted that the underlying fundamentals for cryptocurrencies remain positive, even amid ongoing geopolitical uncertainty.

Zhang suggested, "Bitcoin has the potential to reach $105,000, and Ethereum could approach $3,600, as investors weigh inflation concerns against crypto’s deflationary nature and long-term growth story."

Popular crypto analyst Michaël van de Poppe observed that momentum is gradually returning to the market. He emphasized, "The key support zone is between $90,000 and $91,000. If this area holds and a higher low is established, we could see a push toward $100,000."

Further Reading

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Live Market Snapshots

• Grayscale Bitcoin Mini Trust (BTC): $41.44 (-0.64%)
• Bitcoin (BTC): $93,635.00 (-0.25%)
• Dogecoin (DOGE): $0.1515 (-0.11%)
• Ethereum (ETH): $3,218.19 (-0.22%)
• Solana (SOL): $137.59 (-0.22%)
• XRP (Ripple): $2.38 (+1.22%)
• Chevron Corp (CVX): $164.68 (+0.50%)
• Exxon Mobil Corp (XOM): $125.61 (+0.20%)