Bitcoin Stays Above $90K Amid U.S. Military Action in Venezuela
- Bitcoin traded between $89,900 and $91,600, showing resilience during geopolitical tensions.
- Analyst Michael van de Poppe noted low expectations for a market correction due to the event being priced in.
- Liquidation data revealed $65 million in losses for short positions compared to only $3 million for long positions over the last day.
- Analyst Shagun Makin emphasized Bitcoin’s ability to maintain key price levels amidst geopolitical noise, indicating its potential as a safe-haven asset.
The cryptocurrency market displayed notable strength as Bitcoin remained stable despite rising geopolitical tensions following U.S. military actions. This stability suggests that traders are increasingly focusing on market structure rather than external shocks.
Overall, Bitcoin’s performance above $90K, coupled with significant liquidation losses for short traders, reinforces its emerging status as a resilient asset in turbulent times. (Source)
