Bitcoin’s price rally that started on Friday morning drove it to a multi-week peak of $91,000, where the asset was rejected and driven south, especially since the latest geopolitical development between the US and Venezuela.
Many altcoins have performed a lot better on a daily scale, including some of the meme coin reps, such as DOGE and PEPE.
After being one of the few global assets to end 2025 in the red, bitcoin’s price finally started to show some revival signs on January 2. Following a quiet January 1, in which it remained sideways between $87,000 and $88,000, the cryptocurrency went on the offensive yesterday and broke past $90,000 for the first time in about a week.
This time, the bulls kept the pressure on and drove it even further north to a multi-week peak of $91,000. However, that was as far as BTC would go, at least for now, and it quickly retraced to $90,000. It added several hundred dollars late on Friday, but the explosions in Venezuela’s capital on Saturday morning halted its progress.
Bitcoin dipped to $89,300 but now sits closer to $90,000 after US President Donald Trump confirmed that his country’s military was behind the strikes against Caracas. Moreover, he added that the US captured Venezuela’s President Nicolás Maduro and his wife, who were flown out of the country.
A press conference is expected later today, which could result in more volatility in the crypto market, given that it’s the only financial market open today. For now, BTC’s market cap has neared $1.8 trillion, while its dominance over the alts is below 57% on CG.
Ethereum has reaffirmed its place well above $3,000 and even trades close to $3,100 now. XRP surpassed BNB in terms of market cap after a 6% surge to $2.00. ADA and BCH have increased by similar percentages today.
Dogecoin has rocketed by over 10% and trades north of $0.14. PEPE is the other notable meme coin gainer, having surged by another 15% to $0.000006. Nevertheless, MYX has stolen the show with an 85% pump today to almost $7.
The total crypto market cap has added around $80 billion since January 1 and now sits at $3.145 trillion on CG.
