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BTC Despite the escalating geopolitical tensions between the United States and Venezuela on Saturday morning, the US dollar exchange rate remained stable at around $90,000.
Bitcoin fell below $90,000 on Saturday, but later recovered above that level. As of this writing, its trading price remains above this level.
“The United States bombed a country and captured its leader, all during the weekend. Yet Bitcoin’s price hardly changed at all,” wrote Nic Puckrin, market analyst and founder of cryptocurrency media company Coin Bureau, in an X post.
Although the U.S. attack on Venezuela topped the news headlines on Saturday, Bitcoin’s price remained relatively stable. Source: TradingView
Bitcoin’s current trading price is above the 21-day moving average. Market analyst Michaël van de Poppe said that if Bitcoin can remain above this short-term support level, it indicates that prices will continue to rise in January.
Although recent geopolitical developments have kept Bitcoin’s price stable, this is significant because risk assets like Bitcoin often experience sudden declines during geopolitical crises or macroeconomic challenges.
U.S. President Donald Trump announced an attack on Venezuela. Will the situation escalate further?
U.S. President Donald Trump announced airstrikes on Venezuela’s capital, Caracas, on Saturday, leading to the arrest of Venezuelan President Nicolas Maduro.
Source: Donald Trump
This news has sparked mixed reactions online, with both supporters and critics expressing their opinions. So far, its impact on the financial market has been minimal.
“The geopolitical situation is currently very tense. Key players will return to the market next week. Therefore, Bitcoin’s volatility may increase after the weekend,” said Leonard Snyder, an analyst and trader in the cryptocurrency market.
Institutional investors in traditional financial markets usually do not trade during weekends, at night, or on holidays. However, these investors might still react to the news by selling their assets and causing further market fluctuations when the U.S. stock market opens on Monday.
This could exacerbate the selling pressure, leading to a decline in Bitcoin prices. Previously, Bitcoin prices experienced a sudden drop in October, stopping its upward trend.
As a result, Bitcoin prices fell by more than 30% from their historical high of over $125,000. In November, prices dropped to around $80,000, before rebounding to around $90,000.
