Crypto markets started the week on a strong note, showing renewed optimism among investors. Bitcoin (BTC) reclaimed the $93,200 level for the first time since December 11, while Ethereum (ETH) climbed above $3,200.
The rally came despite geopolitical tensions following the US strike on Venezuela, which often weighs on riskier assets. Analysts say Bitcoin’s safe-haven appeal, short-covering near key levels of $91,500–$93,000, and steady inflows from stablecoins helped it weather the headlines, demonstrating resilience even before traditional markets reopened.
Institutional interest and technical strength support the rally
Institutional involvement in crypto appears to be growing. Riya Sehgal, research analyst at Delta Exchange, pointed to PwC’s increasing engagement in the sector and highlighted that Bitcoin Core development remains robust, with 135 contributors projected for 2025. Sehgal described the market as constructive, noting that BTC and ETH both show strong technical setups, though geopolitical risks and reactions from traditional finance could create short-term volatility.
The CoinSwitch Markets Desk added that Bitcoin’s recent price jump was partly fueled by a liquidation flush. Around $180 million in mostly short futures positions were liquidated by Monday afternoon, triggering buybacks as prices surpassed $91,000 and boosting momentum. While political headlines from Venezuela caused some short-term volatility, they didn’t change the underlying fundamentals.
Currently, Bitcoin has pulled back slightly from the $93,000 mark, trading at $92,623.23 — up 1.36% over the past 24 hours, with a trading volume of $34.15 billion as of Monday morning. BTC traded between $90,877 and $93,204 during the session. Ethereum mirrored this movement, trading around $3,163, up 0.34%, with a 24-hour volume of $16.8 billion and intraday swings between $3,119 and $3,211.
Technical outlook: BTC eyes $96K, ETH eyes $3,250
On the charts, Bitcoin broke out of a symmetrical triangle on the 2-hour timeframe, testing resistance between $93,000 and $94,000. Sehgal said a sustained breakout could push BTC toward $96,000–$97,500, with support at $91,500 and $90,000. “Liquidity clusters suggest potential fakeouts below $88,000, while thin order books above $95,000 leave room for rapid upside,” she noted.
Ethereum remains bullish as well, facing resistance between $3,200 and $3,250, with support around $3,050–$3,000.
Akshat Siddhant, lead quant analyst at Mudrex, added that if BTC closes above $93,700, momentum could carry it toward $100,000, with support forming near $88,500. He also pointed to growing institutional interest as a key driver of the rally — crypto ETFs saw around $646 million in net inflows on the first trading day of 2026 after December’s heavy selling. “Sentiment is improving,” he said, noting that the Fear & Greed Index reached neutral for the first time since October.
Altcoins show mixed performance
Among altcoins, some of the top gainers included Artificial Superintelligence Alliance, Virtuals Protocol, Render, Pepe, Bonk, Pudgy Penguins, Stacks, SPX6900, Shiba Inu, Hyperliquid, FLOKI, Cronos, Celestia, Aerodrome Finance, Injective, Story, Flare, XRP, NEAR Protocol, Cosmos, Starknet, Hedera, Internet Computer, Algorand, Ethereum Classic, PancakeSwap, Polygon, VeChain, Arbitrum, and Jupiter — with gains of up to 18%.
Meanwhile, projects like MYX Finance, Canton, Pippin, Midnight, Morpho, Zcash, UNUS SED LEO, Pump.fun, Monero, World Liberty Financial, Immutable, Quant, Sei, Ether.fi, MemeCore, Sui, Dogecoin, Sky, OKB, Polkadot, Toncoin, Litecoin, Nexo, GateToken, and Tezos faced selling pressure, falling as much as 15%.
