Bitcoin price is in focus as it surged above $93,000 amid the U.S. military operations in Venezuela that led to President Nicolas Maduro’s capture. Most traders are reacting to price, ditching positioning, as the crypto market leaves hesitant traders behind for a strong upside momentum. Here are the 3 reasons behind the significant rebound in Bitcoin price.
Bitcoin Price Surging Higher Amid Clean-Slate Effect: Matrixport
While traders continue to be divided over bear market or continuous bull market claims, Bitcoin price held above $88,000 to build further upside momentum into 2026. Hesitant traders stayed on the sidelines amid the long New Year holidays, keeping most traders focused on prices rather than on BTC positioning.
Matrixport said “Starting the new year with a clean portfolio and light positioning is often the ideal setup.” It is causing Bitcoin and the global crypto market to reset and naturally gravitate, following the unwinding of almost $30 billion in Bitcoin and Ethereum futures leverage since the October peak.
BTC positioning is far leaner at the 2026 start, with speculative excess flushed out. Matrixport predicts Bitcoin price and the crypto market now have room to follow their natural trajectory, mostly higher, without the crowded speculative trades.
Venezuela’s Shadow 600,000 BTC Reserve Could End Up in US Strategic Reserve
Intelligence claims suggest Venezuela may control a massive Bitcoin “shadow reserve” of up to 600,000 BTC. The potential $60 billion in Bitcoin holdings is similar in scale to Strategy (MSTR) and BlackRock’s BTC holdings.
The Venezuelan regime under Nicolas Maduro accumulated Bitcoin (BTC) and Tether (USDT) through gold swaps and settlements of oil exports in USDT to evade US sanctions.
Following the U.S. operation in Venezuela that led to Maduro’s capture on January 3, attention has shifted to recovering these assets. If seized, these BTC could be frozen as forfeited assets or added to a U.S. strategic reserve. This would represent a major supply lock-up, which is bullish for Bitcoin price.
Bitcoin Price Bounces amid Technical Breakouts
Some whales and traders have reacted to the news, increasing holdings and going long on BTC. The price has jumped by more than 2% over the past 24 hours, reclaiming above $93,000. At the time of writing, the price is trading at $92,432.
The 24-hour low and high were $90,877 and $93,204, respectively. Moreover, trading volume has increased by 41% in the last 24 hours, indicating a rise in interest among traders.
Analyst Joe Consorti highlighted that Bitcoin price broke back above the 50-day moving average for the first time since October. It is now testing levels not seen since early December, indicating a massive drop in selling pressure. He predicts a BTC rally if it reclaims and holds the 50-week MA at $101K.
Bitcoin price has also broken above its 200-MA and 200-EMA on the 4-hour chart. This signals a potential short to mid-term uptrend. The main level to break for the bulls remains that $94K horizontal area and range high.
