Bitcoin price struggles at $90,000 amid US attack on Venezuela

Bitcoin (BTC) drops below $90,000 as the cryptocurrency market reacts to the US military’s move in Venezuela.

Bitcoin faces geopolitical pressure around the $90,000 mark

According to data from TradingView, the BTC price reversed after reaching a high near $90,940 on the Bitstamp exchange.

BTC/USD chart on a 1-hour timeframe | Source: TradingView News about the US conducting airstrikes in Caracas, Venezuela quickly spread, followed by President Donald Trump’s statement on Truth Social that the Venezuelan president has been detained and “removed from the country.”

Source: Truth Social In the context of traditional markets taking a break, BTC/USD is trying to maintain some of its early-year gains before the futures market reopens on Sunday.

Analysis account @Wealthmanager commented on X: “We are witnessing short-term selling pressure due to US military developments in Venezuela, but I still hold a short-term optimistic view.”

“If the situation does not escalate, I see this as only a temporary correction, and a recovery is likely to happen soon. My target in the coming days or weeks remains at $96,000–$100,000.”

Wealthmanager also noted that CME Group’s Bitcoin futures market closed the week above $90,000, creating a new “gap” and an upward price target accordingly.

Analyst Lennaert Snyder agrees that market movements will largely depend on the return of traditional investors next week.

“Geopolitical tensions are high, and next week, large investors will return to the market. Therefore, we may see more volatility in Bitcoin after the weekend,” he shared on X.

Trader, analyst, and crypto entrepreneur Michaël van de Poppe believes the latest Bitcoin move is a “classic” reaction to the situation in Venezuela, while maintaining an optimistic outlook.

“The January trend was very clear: Bitcoin will continue to rise as long as it stays above the 21-day moving average,” he concluded, referring to the current 21-day MA at $87,850.

BTC/USD daily chart with 21-day moving average (21SMA) | Source: TradingView## Bitcoin begins to recover against gold

Investors are also paying attention to Bitcoin’s outperformance compared to gold in the early New Year.

After gold hit a new all-time high of $4,551/ounce on December 26, XAU/USD declined by up to 6% before stabilizing again. During the same period, BTC/USD increased by 5%.

Bull Theory analysis source commented: “One important thing to remember is that the last time Bitcoin started a parabolic uptrend was after gold hit its peak.”

“If $4,550 is gold’s top, then this could be the beginning of a shift of funds from gold to BTC.”

According to Coinphoton, gold ended 2025 as the best-performing major asset, while Bitcoin, despite reaching a historic high in October, ranked last among key assets.