Bitcoin soared past $91,000 on Sunday as traders continued to capitalize on a rebound that began in early 2026. The price of Bitcoin reached approximately $91,300 during the Asian morning hours, marking an increase of 1.4% for the day and over 4% for the week. Other major cryptocurrencies also rallied, with ether climbing roughly 1% to approach $3,150 and experiencing a notable 7% increase over the week. Solana increased by around 1.6%, contributing to an 8% rise in its weekly performance. XRP remained steady above $2, seeing a daily increase of 0.6% and nearly 10% over the past week. Cardano similarly posted modest gains and has risen about 8% in the same timeframe.
The surge followed a significant liquidation event that cleared out a range of positions in the futures market, effectively resetting near-term leverage. Data revealed that approximately $180 million worth of futures positions were liquidated within 24 hours, with shorts accounting for roughly $133 million and longs about $47 million. This imbalance suggests many traders were caught off guard by the rally, leading to forced buybacks that pushed prices higher.
The increase in cryptocurrency values coincided with a rapidly evolving political situation in Venezuela. U.S. President Donald Trump announced plans for the U.S. to take a more active role in Venezuelan affairs, although specifics remained vague. Venezuela’s Supreme Court granted Vice President Delcy Rodríguez temporary presidential powers after the U.S. took ousted President Nicolás Maduro into custody. Trump indicated that the U.S. would focus on Venezuelan oil and mentioned that a military presence might not be necessary if Rodríguez complied with U.S. demands.
Though cryptocurrency traders generally view geopolitical headlines as catalysts for volatility rather than direct economic influences, the broader risk environment can significantly impact market behavior. In times of reduced liquidity, even small increases in demand can push asset prices past key technical levels, prompting stop-loss orders in futures markets. This effect can intensify if many traders are positioned for a price decline, as forced buybacks can lead to sharper price movements.
