BTC climbs to $93,000 amid continued New Year momentum, with $260 million in liquidations recorded.

Crypto, Commodities, and Asian Stocks Surge on AI Momentum and Geopolitical Catalyst

Cryptocurrencies jumped Monday, tracking gains in commodities and Asian equities, as AI-driven momentum combined with geopolitical developments to fuel a broad risk-on rally.

Bitcoin briefly touched $93,000 amid heightened risk appetite following the U.S. detention of Venezuelan President Nicolás Maduro. BTC traded around $93,824, up roughly 1% over 24 hours and 3% for the week. Ether (ETH) held near $3,184, XRP rose above $2.18, and Solana (SOL) hovered near $136. Dogecoin (DOGE) eased slightly on the day but remained up 17% over the past week, leading gains among major tokens.

Derivatives activity magnified the move. Total liquidations surpassed $260 million in 24 hours, with short positions accounting for approximately $200 million as late sellers were forced to cover. Over four hours, more than $121 million in shorts were wiped out versus less than $9 million in long liquidations. On Hyperliquid, shorts represented 54.4% of liquidated positions compared to 45.6% for longs, signaling crowded bearish bets.

The crypto rally coincided with broader market strength. Asian equities hit record highs as technology stocks continued their AI-driven momentum. Brent crude steadied after early weakness linked to Venezuelan developments, while gold surged above $4,400 an ounce and silver posted even larger gains.

Traders said the early-year push reflected a combination of positioning and relative value. “Traders are jumping in to exploit price inefficiencies,” said Jeff Mei, COO of BTSE, noting that cryptocurrencies remain well below their all-time highs while equities and precious metals continue to hit new records.

Geopolitical developments over the weekend added fuel to markets. The U.S. detained Maduro, with former President Donald Trump suggesting that troops would not be deployed as long as acting Venezuelan president Delcy Rodríguez “does what we want,” reinforcing investor risk appetite.