After reaching nearly $91,000, the price of Bitcoin (BTC) fell below $90,000 amid rising tensions due to recent US military actions in Venezuela. The cryptocurrency began to reverse its gains following news of airstrikes in Caracas, as traders remained watchful of critical support levels.
Despite this decline, analysts expressed optimism for Bitcoin's potential recovery. The market saw a 5% increase since Christmas, and with traditional financial markets closed, BTC/USD aimed to maintain its early-year performance. A prominent analyst suggested that if the geopolitical situation stabilizes, a rebound towards $96,000 to $100,000 could be imminent.
Data from TradingView indicated that Bitcoin's price peaked at approximately $90,940 before the recent downturn. The closure of Bitcoin futures above $90,000 this past week could indicate a new price target. As major financial players return next week, experts predict an increase in market volatility.