Bitcoin Surges Past $91,000 Amidst Venezuela Political Shift

Bitcoin Surpasses $91,000 Amid Venezuelan Political Developments

Bitcoin reached above $91,000 on Sunday as traders continued the early 2026 recovery in major cryptocurrencies. Ether, Solana, and Cardano also showed significant gains, driven by geopolitical news from Venezuela.

Bitcoin traded at approximately $91,300 during Asian morning hours, marking a 1.4% increase on the day and a 4% rise over the past week. Ether rose by 1% to near $3,150, up 7% for the week, while Solana increased by 1.6%, climbing over 8% in seven days. XRP hovered above $2, with a 0.6% daily rise and nearly 10% weekly gain, while Cardano showed modest daily growth, up 8% over the week.

The surge followed a significant liquidation event that reset short-term leverage. Data indicated around $180 million in futures positions were liquidated in the last 24 hours, with $133 million from shorts and $47 million from longs, indicating traders were caught off guard by the rally, necessitating buybacks as prices ascended.

Sunday's gains coincided with rapid political changes in Venezuela. President Donald Trump announced U.S. plans to oversee Venezuela, though the White House provided limited details. Venezuela's Supreme Court appointed Vice President Delcy Rodríguez with all presidential powers temporarily after President Nicolás Maduro was taken into U.S. custody.

Trump also highlighted a focus on Venezuelan oil, suggesting a U.S. presence in the oil sector without the need for ground troops if Rodríguez aligns with U.S. interests.

While crypto traders often view such headlines as volatility catalysts rather than macroeconomic drivers, the overall risk sentiment remains relevant. In times of reduced liquidity, even slight spot demand can push prices through technical levels, triggering stop-driven movements in futures markets. This effect is intensified when shorts anticipate a pullback, as forced covering can transform a steady rise into a sharper breakout.