Bitcoin edged closer to the $93,000 mark on Tuesday as Asian stock markets extended their rally, taking cues from Wall Street’s overnight strength. Gains in energy and financial stocks pushed the Dow Jones Industrial Average to a fresh all-time high, setting a positive tone for risk assets globally.
Traders initially reacted to weekend developments in Venezuela, where a U.S. operation led to the capture of President Nicolás Maduro. The news briefly lifted oil and energy stocks before fading into the background as markets shifted focus to the week’s macro events.
Market snapshot
Bitcoin: $93,787 (+0.9%)
Ether: $3,220 (+1%)
XRP: $2.40 (+12.1%)
Total crypto market cap: $3.29 trillion (+1.4%)
Oil eases as traders reassess Venezuela risk
After jumping on Monday, oil prices pulled back slightly. Brent crude slipped 19 cents to $61.57 a barrel, while WTI fell 22 cents to $58.10, as traders weighed what Washington’s next moves could mean for Venezuelan oil exports over the longer term.
President Donald Trump said the U.S. would place Venezuela under temporary American control and warned of further military action if the country does not cooperate on opening its oil sector and addressing drug trafficking concerns.
Asia stocks ride the global risk rally
Asian equities followed Wall Street higher. MSCI’s Asia-Pacific index excluding Japan advanced again, Japan’s Topix hit a record high, and both Hong Kong and mainland Chinese markets posted gains as investors leaned into the same risk-on sentiment that lifted U.S. benchmarks overnight.
On Wall Street, financial stocks powered the Dow to a new high, while energy shares jumped on expectations that U.S. involvement in Venezuela could eventually unlock access to the country’s vast oil reserves. The rally capped a third straight year of double-digit gains for major U.S. indexes.
Calm currencies, busy commodities, steady crypto
Currency markets were comparatively quiet. The U.S. dollar held steady ahead of Friday’s jobs report after swinging sharply in the previous session.
Commodities remained active. Copper hit a record high amid supply disruptions in Chile, while gold hovered near all-time highs around $4,449 an ounce as investors continued to hedge against geopolitical uncertainty.
In crypto markets, traders largely treated the Venezuela headlines as another positioning catalyst rather than a long-term driver.
Some analysts noted a potential link to mining economics through energy costs. Bitfinex analysts said that cheaper and more reliable energy could improve miner margins globally and support the next phase of mining expansion, particularly in regions able to lock in long-term power contracts.
