Analysis: The market's reaction to the situation in Venezuela may be limited, and Bitcoin prices remain strong

Despite the escalating geopolitical tensions between the United States and Venezuela reaching a boiling point early Saturday, Bitcoin prices remained strong, stabilizing around $90,000. BTC briefly dipped below $90,000 on Saturday but quickly rebounded above that level.

Market analyst Michaël van de Poppe pointed out that the BTC price is currently above the 21-day moving average, and if it can maintain this short-term support level, it suggests that prices may continue to rise in January. It is noteworthy that BTC has remained stable amid recent geopolitical shocks, which is significant because risk assets, including Bitcoin, typically experience sudden drops during geopolitical crises or macroeconomic headwinds.

Jamie Cox, managing partner at HARRIS FINANCIAL GROUP in Virginia, stated that the overall market reaction to the situation in Venezuela may be limited, and we might receive some news that could influence market trends during Sunday’s OPEC meeting.