Bitcoin Price Action Halts Near $91,000 Amid Geopolitical Tension
Bitcoin's price action has halted a breakout to new 2026 highs near $91,000 due to geopolitical tension. The US military action in Venezuela led to a drop in Bitcoin's price below $90,000 on Saturday. Despite this, traders remain optimistic about the outlook for Bitcoin if certain levels hold.
The US launched airstrikes in the Venezuelan capital, Caracas, followed by an announcement from President Donald Trump that Venezuela's President had been captured and flown out of the country. With traditional markets closed, Bitcoin attempted to preserve some early-year gains ahead of futures returning on Sunday.
Analytics account @Wealthmanager noted that CME Group's Bitcoin futures market had closed the week above $90,000, potentially providing a new gap and corresponding price target to the upside. Crypto analyst Lennaert Snyder agreed that much hinges on the return of traditional finance next week, which will likely bring more volatility to Bitcoin.
Crypto trader and analyst Michaël van de Poppe described Bitcoin's latest move as a classic Venezuela reaction, maintaining a bullish outlook. He noted that the direction is clear for January: up, as long as Bitcoin remains above the 21-day moving average at $87,850.
Bulls also looked to Bitcoin's relatively strong performance against gold over the New Year period. After reaching new all-time highs of $4,551 per ounce on December 26, gold fell by up to 6% before steadying, while Bitcoin gained up to 5%.
Bitcoin's Performance Against Gold
Bitcoin's performance against gold is an important indicator of its strength. According to trading and analytics resource Bull Theory, the last time Bitcoin started its parabolic rally was after gold made its top.
Geopolitical Tension and Bitcoin's Price Action
Geopolitical tension has a significant impact on Bitcoin's price action. The US military action in Venezuela led to a drop in Bitcoin's price, but traders remain optimistic about the outlook for Bitcoin if certain levels hold.
Bitcoin's Outlook for 2026
Bitcoin's outlook for 2026 is bullish, with many analysts predicting a continued increase in price. However, geopolitical tension and traditional finance markets will likely play a significant role in shaping Bitcoin's price action in the coming weeks.
Conclusion
In conclusion, Bitcoin's price action has halted near $91,000 due to geopolitical tension. Despite this, traders remain optimistic about the outlook for Bitcoin if certain levels hold. Bitcoin's performance against gold and its outlook for 2026 are important indicators of its strength and potential for growth.
Stay Updated – Subscribe to Our Newsletter
Get the latest crypto news, analysis, and insights delivered straight to your inbox.
No spam, ever. Unsubscribe anytime.Master Crypto Security with Crypto Security 101
Protect your digital assets from hacks, scams, and theft. The Economic Ninja's essential course teaches you proven security practices every crypto holder needs.
Affiliate Disclosure: This is an affiliate link. We may earn a commission at no extra cost to you.
Enroll in Crypto Security 101 →DISCLAIMER: Content is for informational purposes only. Not financial, investment, or legal advice. Cryptocurrencies are highly volatile with substantial risks including complete loss of principal. Conduct your own research and consult qualified professionals before making financial decisions. We make no warranties regarding accuracy or completeness. Not liable for losses from use of this content. Affiliate Disclosure: Some links are affiliate links. We may earn commissions at no extra cost to you.
