Crypto, Commodities, and Asian Stocks Rally on AI Momentum and Geopolitical Catalyst
Cryptocurrencies surged Monday, alongside commodities and Asian equities, as AI-driven momentum and geopolitical developments fueled broad risk-on sentiment.
Bitcoin briefly hit $93,000, trading around $93,824, up about 1% over 24 hours and 3% for the week. Ether (ETH) hovered near $3,184, XRP climbed above $2.18, and Solana (SOL) stayed near $136. Dogecoin (DOGE) slipped slightly but remained up 17% over the past week, leading gains among major tokens.
Derivatives activity magnified the move. Total liquidations exceeded $260 million in 24 hours, with shorts accounting for roughly $200 million as late sellers were forced to cover. In four hours alone, over $121 million in short positions were wiped out versus under $9 million in long liquidations. On Hyperliquid, shorts represented 54.4% of liquidated positions versus 45.6% longs, signaling crowded bearish bets.
The rally coincided with broader market strength. Asian equities hit record highs as tech stocks extended last year’s AI-driven momentum. Brent crude steadied after early weakness tied to Venezuela, while gold surged above $4,400 an ounce and silver posted even larger gains.
Traders said early-year positioning and relative value drove the move. “Traders are jumping in to exploit price inefficiencies,” said Jeff Mei, COO of BTSE, noting cryptocurrencies remain far below all-time highs even as equities and precious metals set new records.
Geopolitical developments added fuel: the U.S. detained Venezuelan President Nicolás Maduro, with Donald Trump suggesting no troops would be deployed if acting President Delcy Rodríguez “does what we want,” reinforcing investor optimism.
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