Bitcoin briefly touched $93,000 on Monday as traders looked to a fresh supply of risk in markets following the US ousting of Venezuela, while opening flows of the year pushed major coins higher after a choppy finish to 2025.
BTC is up around 1% over 24 hours and around 3% over seven days, while ether was holding near $3,160, also up on the day. added about 3% above $2.10, extending its outperformance from early January, while solana was hovering near $136. eased that day but remained up 17% over the past week, the highest gains among the majors.
The positioning of derivative products amplified the movement. Liquidations exceeded $260 million over 24 hours, with short sales accounting for around $200 million, showing late sellers were forced to cover as prices rose.
More than $121 million in short positions were wiped out in the last four hours alone, compared to less than $9 million in long positions. Long liquidations remained relatively modest, indicating a market where bear leverage was crowded and vulnerable. On leading decentralized perpetual focus platform Hyperliquid, shorts still accounted for about 54.4% of all liquidated positions compared to 45.6% of longs, according to HyperDash.
The BTC rally was accompanied by strength in risk assets and a further rise in commodities. Asian stocks hit a record high as investors flocked to technology stocks, continuing last year’s AI-driven momentum. Brent crude stabilized after initial weakness linked to developments in Venezuela, while gold rebounded strongly above $4,400 an ounce and silver recorded an even bigger rise.
Traders said the start-of-year supply reflected a mix of positioning and relative value, with the crypto still well below its highs while other assets hover near record highs.
“We believe that in the new year, traders are moving to exploit price inefficiencies,” Jeff Mei, chief operating officer at BTSE, said in a Telegram message, noting that cryptocurrencies remain well below their all-time highs while stocks and precious metals continue to print new records.
A move in the markets began this weekend when the United States arrested Venezuelan President Nicolás Maduro, while Donald Trump signaled a
He also suggested that U.S. troops on the ground would not be needed as long as interim Venezuelan President Delcy Rodríguez “does what we want.”
