Bitcoin (BTC) fell below $90,000 on Saturday as crypto markets in Venezuela reacted to US military action.
Key Points:
Bitcoin has tried to pare recent gains as the US attacks the Venezuelan capital of Caracas.
If certain levels are held, traders are optimistic about the outlook for BTC’s price action.
Gold starts to flag on shorter time frames as Bitcoin gains from Christmas onwards.
Bitcoin faces “geopolitical pressure” at $90,000
Trading Wave data shows that BTC price action is reversing after highs near 90,940 on Bitstamp.
The news that the United States had launched airstrikes in the Venezuelan capital of Caracas followed an announcement by President Donald Trump on Twitter that the Venezuelan president had been captured and “flew out of the country.”
After traditional markets closed, BTC/USD tried to preserve some of the early year’s gains before pulling back on Sunday.
“We are seeing some short-term selling pressure due to the ongoing US action against Venezuela, but I remain bullish in the near term,” the analytics account @wealthmanger reacted in a post on X.
“If this situation does not escalate further, I see this move as a temporary pullback, with a recovery as soon as possible. ,000 96,000–$100,000 remains my target for the coming days/weeks.”
The wealth manager noted that CME Group’s bitcoin futures market closed above $90,000 on the week, potentially providing a new “gap” and associated price target upside.
Crypto analyst Lennart Snyder agreed that TradeFi’s return next week was overhyped.
“There’s a lot of geopolitical tension and the big players will be back next week. So we’ll see more volatility on Bitcoin later in the week,” he told X-Followers.
Crypto trader, analyst and entrepreneur Michael Van de Pope, meanwhile, described Bitcoin’s latest move as a “classic” Venezuela reaction, maintaining a bullish outlook.
“The direction for January is clear: as long as Bitcoin stays above the 21-day MA,” he concluded, citing the 21-day simple moving average, at 87,850.
Gold bull run begins to retaliate in BTC price
Bulls also looked at Bitcoin’s relatively strong performance against gold in the New Year period.
Related: Bitfinex goes long BTC for 2026: 5 things to know in Bitcoin this week
After hitting a new all-time high of 4,551 per ounce on Dec. 26, the CZ/USD fell as much as 6 percent before consolidating. At the same time, BTC/USD rose by 5%.
“An important thing to remember is that the last time Bitcoin started its parabolic rally,” trading and analytics resource Bull Theory commented on the topic.
“So if 50 was the 4550 top for gold, that could be the start of a money flow from gold to BTC.”
As QuintalGraph reported, gold ended 2025 as the year’s best-performing major asset, with bitcoin bringing up the opposite rear despite hitting an all-time high in October.
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This article does not contain investment advice or recommendations. Every investment and trading venture involves risk, and readers should do their own research when making a decision. Although we strive to provide accurate and timely information, we do not guarantee the accuracy, completeness or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. QuintileGraph shall not be liable for any loss or damage arising from your reliance on this information.
