The price of Bitcoin (BTC) remained stable at around $90,000, despite geopolitical tensions between the United States and Venezuela that came to a head in the early hours of Saturday morning.
Bitcoin briefly fell below $90,000 on Saturday before climbing back above the $90,000 level, where it is trading at the time of writing.
“The United States bombed a country and captured its leader, in a weekend no less, and yet Bitcoin has barely moved,” Nic Puckrin, market analyst and founder of crypto media company Coin Bureau, said in an X post. job.
BTC is trading above the 21-day moving average, and if it remains above this short-term dynamic support level, it signals continued price appreciation in January. according to to market analyst Michaël van de Poppe.
BTC price remaining firm despite the recent geopolitical shock is important because risk assets, including BTC, tend to see sudden surges. decline in response to geopolitical crises or macroeconomic headwinds.
Related: US National Debt Surpasses $38.5 Billion, As Bitcoiners Celebrate “Genesis Day”
US President Trump announces an attack on Venezuela, but will the situation escalate?
US President Donald Trump announcement Airstrikes on the Venezuelan capital, Caracas, on Saturday resulted in the capture of Venezuelan President Nicolas Maduro.
The announcement received mixed reactions online, ranging from support has convictionbut has so far had little impact on financial markets.
“There is a lot of geopolitical tension and the big players will return next week. So we will probably see more volatility on Bitcoin after the weekend,” said Lennaert Snyder, cryptocurrency market analyst and trader. said.
Institutional investors in traditional financial markets generally do not operate on weekends, nights or public holidays. These institutional players could still react to the announcement of the opening of the American market on Monday by getting rid of their assets and increasing market volatility.
This could add to the selling pressure contributing to the recent Bitcoin price decline, which began following a flash crash in October which derailed the upward momentum in Bitcoin prices.
The price of BTC is down over 30% of a an all-time high above $125,000 to a low of around $80,000 in November due to the crash before rebounding to the $90,000 level.
Review: Bitcoin is ‘funny money on the Internet’ in times of crisis: co-founder of Tezos
