Bitcoin shot up to $93,000 on Sunday evening as short positions collapsed across the market. More than $261.21 million in crypto liquidations hit within the past 24 hours, with $197.75 million coming from bearish bets.
Trading volume on jumped 43% as prices settled around $92,600 at the time of writing. Interestingly, since the United States’ forces began operations in Venezuela, Bitcoin is up nearly 4%.
Ethereum followed with a clean breakout above $3,100, reaching an intraday high near $3,211. XRP, BNB, SOL, and ETH all skyrocketed as the global crypto market value rose to $3.15 trillion, and the Crypto Fear and Greed Index recovered to the Neutral zone.
The weekend rally came alongside the that US special forces captured Venezuela’s leadership, Nicolás Maduro and Cilia Flores, from regime sites in Caracas, and transferred them offshore.
Equity futures remained stable. S&P 500 futures rose 0.05%, Nasdaq 100 futures added 0.24%, and Dow futures slipped marginally. Oil prices moved higher, with Brent above $61 and WTI near $58.
Markets treated the event as a controlled geopolitical shift and not a systemic shock. With stocks steady and oil bid, crypto became the fastest channel for repositioning risk over the weekend, when traditional markets were closed.
Intelligence a Venezuelan Bitcoin stockpile built off‑chain over several years. Estimates range from 600,000 to 660,000 BTC, accumulated through gold swaps, oil settlements in USDT, and seized mining operations since 2018.
At current prices, that reserve implies over $55 billion in Bitcoin. If even partially confirmed and seized, it would represent roughly 3% of the circulating supply. That figure is larger than Germany’s 2024 liquidation by over twelve times, and nearly double the prior US government holdings before this event.
However, the key point for markets is not the immediate selling risk. The dominant expectation is a long legal freeze or be added to the US strategic reserve. Either outcome removes a large block of Bitcoin from active circulation for years.
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