Bitcoin Surges Past $93,000: Venezuela Strike and Record Short Squeeze Fuel Historic Rally
Bitcoin just blasted through another psychological barrier—$93,000—and the catalysts are as geopolitical as they are financial. A major strike in Venezuela's oil sector sent shockwaves through traditional markets, while a record-breaking cascade of short liquidations on derivatives exchanges provided the rocket fuel.
The Mechanics of the Move
It wasn't a slow grind. The climb was a classic short squeeze, amplified by macro uncertainty. As Venezuela's oil output—a key global supply—faced disruption, capital started hunting for non-correlated assets. Bitcoin, the perennial outlier, fit the bill. Then, the leverage flushed out. Over-leveraged traders betting against the rally got caught as the price moved against them, forcing a wave of automated buy orders that propelled the price higher in a self-reinforcing loop.
Beyond the Headline Numbers
Forget the dollar value for a second. The real story is in the market structure. This move wasn't driven by retail FOMO alone; it was a complex interplay of macro hedging and a brutal cleansing of weak, speculative positions. It's a reminder that in crypto's volatile arena, the most dangerous trade is often fighting the momentum when fundamental and technical factors align—especially when Wall Street's usual playbook gets disrupted by a supply shock halfway across the world.
What's Next for the Benchmark Asset?
The breach of $93,000 sets a new front line. The market will now test whether this level can act as support or if it's just a pit stop on the way to the next round number everyone's eyeing. One thing's certain: the combination of real-world instability and a record short liquidation event has demonstrated, once again, that Bitcoin's price discovery happens in the most unforgiving venue imaginable—the global, 24/7 market, where geopolitics meets greedy leverage and the results are written in double-digit percentage moves. Just ask the hedge fund managers currently explaining a 'tactical short' as a 'strategic long-term learning expense' to their investors.
US Strike Impact And Short Liquidations
While there were speculations of high volatility and bearish activity in the crypto market after the U.S. capture of Venezuela’s President Nicolás Maduro, the crypto space remained stable. However, it sent shockwaves through the crude oil market. The news sent oil to four-year lows, while crypto markets held steady, with Bitcoin price prediction turning bullish.
The total crypto market cap has also recovered above the $3.2 trillion mark after dipping to $2.96 trillion in December. With Bitcoin, altcoins have also shown strong investor interest in the rebound.
In the last 24 hours, $83.76 million in short positions have been liquidated, forcing bears to cover amid the rebound. According to The Kobeissi Letter, as many as $75 million in levered shorts were liquidated in just 60 minutes, suggesting that this uptrend has caught sellers off guard.
BREAKING: bitcoin surges toward $93,000 as $75 million worth of levered shorts are liquidated in 60 minutes.
Bitcoin is now up nearly $5,000 since its low on Friday night after the US began strikes on Venezuela. pic.twitter.com/G94bixPTdo
— The Kobeissi Letter (@KobeissiLetter) January 5, 2026
Spot Bitcoin ETFs also saw a slight recovery with $471.3 million in inflows on Friday. ETF products saw a large outflow in December, but with the market recovery, these could also see a rebound in the coming days.
Bitcoin Price Prediction Analysis Shows $100,000 Target
Bitcoin has been struggling over the last few months, with prices dipping to an eight-month low NEAR $80,000. However, amid this strong reversal, important price levels are starting to take shape. After struggling below $90,000 since early December, BTC has finally stabilized above the $92,000 support, currently hovering around $92,400.
Bitcoin price chart. Image courtesy: TradingView
Various analysts are eyeing a $100,000 recovery for Bitcoin as liquidity and investor interest in the market grow. The $94,000 is the first crucial resistance level from where the price has been rejected twice in December. If bitcoin price breaks above $94,000 with strong volumes, $100,000 becomes achievable in the coming weeks.
However, on the downside, $90,000 is the most crucial level that could determine mid-term momentum in the crypto market. If Bitcoin fails to hold $90,000, the reversal WOULD be nullified, and another bear leg could follow.
With short liquidations and inflow recovery in ETFs now, Bitcoin remains stable, supported by strong price zones. These support levels will be crucial, as failure to hold them could lead the crypto market back into correction mode.
Bitcoin Hyper’s L-2 Solution Attracting Smart Money
While Bitcoin price prediction is yet to fully regain momentum, Bitcoin Hyper has caught the attention of large players ahead of the upcoming bull run. The project’s presale has surpassed the $30 mark despite weak market conditions.
Bitcoin Hyper takes a fresh approach by combining Bitcoin’s rock-solid security with the speed of the Solana VIRTUAL Machine. It introduces a true Layer-2 network that lets Bitcoin scale without compromising what makes it trusted.
Users MOVE BTC into the Bitcoin Hyper network via a canonical bridge, where it is converted into a 1:1-backed wrapped BTC. This wrapped BTC then powers the entire network as its native currency.
Developers can use familiar Rust-based tools, SDKs, and APIs to build fast, responsive applications, much as they do on Solana. As a result, Bitcoin Hyper opens the door to smart contracts, DeFi platforms, NFTs, and even meme tokens, all of which are secured by Bitcoin itself.
Another highlight of the project is its staking protocol, which provides 39% staking rewards for presale adopters. Currently priced at $0.013535, HYPER is rising in rankings and is a standout small-cap contender that has enticed both retail and whale investors.
Buy Bitcoin Hyper Here
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