Geopolitical developments in Venezuela and U.S. involvement are driving volatility in cryptocurrency markets.
Bitcoin surged above $91,000 on Sunday as traders extended early-2026 gains across major tokens. Ether, Solana, and Cardano also posted broad advances, supported by heightened risk appetite amid fast-moving news from Venezuela.
Bitcoin traded near $91,300 in Asian morning hours, up roughly 1.4% on the day and over 4% for the week. Ether rose about 1% to $3,150, gaining roughly 7% over seven days, while Solana added 1.6% and climbed 8% for the week. XRP hovered just above $2, up 0.6% on the day and nearly 10% for the week, while Cardano recorded modest daily gains and an 8% weekly advance.
The rally followed a liquidation flush that cleared crowded positions and reset near-term leverage. Around $180 million in futures were liquidated over 24 hours, with $133 million from shorts and $47 million from longs, forcing buybacks that drove prices higher.
Political developments added further momentum. Former President Donald Trump said the U.S. plans to “run” Venezuela, though specifics remain limited. Venezuela’s Supreme Court granted Vice President Delcy Rodríguez full presidential powers after ousted President Nicolás Maduro was taken into U.S. custody. Trump also signaled a focus on Venezuela’s oil sector, suggesting ground troops would not be needed if Rodríguez “does what we want.”
Crypto traders typically view such headlines as volatility catalysts rather than direct macro drivers. In thin liquidity conditions, modest spot demand can push prices through technical levels, while concentrated short positions can amplify gains through forced covering.
