Bitcoin Price $90k Breakout Hangs In Balance As Us Storms Venezuela
Bitcoin halted a breakout to new 2026 highs near $91,000 as BTC price action dealt with "geopolitical tension" while TradFi markets were closed.
Bitcoin (BTC) dropped below $90,000 on Saturday as crypto markets reacted to the US military action in Venezuela.
Bitcoin attempts to hold recent gains as the US mounts an attack on Venezuela’s capital, Caracas.
Traders remain optimistic about the outlook for BTC price action if certain levels hold.
Gold starts to flag on low timeframes as Bitcoin’s gains tap 5% since Christmas.
Data from TradingView showed BTC price action reversing after highs near $90,940 on Bitstamp.
News that the US had launched airstrikes in the Venezuelan capital Caracas were followed by an announcement from President Donald Trump on Truth Social in which he said that Venezuela’s President had been captured and “flown out of the country.”
With traditional markets closed, BTC/USD attempted to preserve some early-year gains ahead of futures returning Sunday.
“We’re seeing some short-term selling pressure due to the ongoing US action against Venezuela, but I remain bullish in the near term,” analytics account @Wealthmanager reacted in a post on X.
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.
Source: CoinTelegraph
