Bitcoin (BTC) launches its first comeback move in months as geopolitics excites world assets.
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Bitcoin price gains see a return to $93,000 after a nearly month-long absence, but traders are skeptical.
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A key golden cross is almost here on the four-hour chart, paving the way for further market strength.
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Venezuela reactions form the key focus for risk-asset traders this week.
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US labor-market data is due as expectations of a Fed rate cut this month fade.
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Bitcoin whales remain active sellers, upping distribution over the new year.
Bitcoin price breakout or sub-$80,000 next?
Bitcoin is finally giving bulls some relief this week as BTC price action reacts favorably to geopolitical events — will it last?
That question is getting some serious attention from traders and commentators as BTC/USD hits $93,000 for the first time since Dec. 11.
Data from TradingView shows that Bitcoin has gained as much as 6.6% over the past five days.
“Price will unlikely recover straight from here,” trader CrypNuevo argued in a thread on X.
CrypNuevo likened current price action to October 2019, predicting that the price would continue to hunt nearby liquidity on exchange order books.
“The structure is identical and price did a liquidity run before sweeping the lows, and then pumped,” he continued.
“I think we’ll sweep the lows with or without the liquidity run.”
That would imply a trip below $80,000 for the first time since last April. On the way down, two “gaps” in CME Group’s Bitcoin futures market could provide initial targets.
“Two CME gaps are sitting below price at $90,500–$91,600 and $88,200–$88,800,” Bitcoin education resource Coin Bureau confirmed.
The latest data from monitoring resource CoinGlass, meanwhile, puts 24-hour crypto short liquidations at $250 million. Liquidity was piled high into the weekly close, with $93,700 bulls’ next upside target.
Commenting on data from one of its proprietary trading tools, Keith Alan, cofounder of trading platform Material Indicators, saw more interesting price action next.
A “wall” of sell orders, which previously sat at $100,000, is no longer in place.
“Now the fun begins,” Alan told X followers, with a chart showing increased buying from smaller Bitcoin whales.
Bitcoin golden cross close to confirmation
A 5% BTC price rebound may sound modest by typical crypto market standards, but the trend implications could be significant.
Analyzing simple (SMA) and exponential (EMA) moving averages gives Bitcoin bulls reason for optimism above $90,000.
For the first time since $114k, Bitcoin is trading above its 4-hour 200 moving average cloud.
This is an accomplishment for the bulls.
So long as they can keep price above the MA cloud.
I’ll be watching… pic.twitter.com/ntM9nlRO2a
— Caleb Franzen (@CalebFranzen) January 3, 2026
One bullish phenomenon currently playing out is the 50-period SMA crossing above the 200-period equivalent on the four-day chart. This “golden cross” signifies low-timeframe buying momentum, and would undo the “death cross” from mid-October.
On the daily chart, a golden cross is still far from reality after its own death cross hit a month later.
Taking a longer-term perspective, however, trader SuperBro notes that another pair of trendlines is already flipping green: the weekly 100-period SMA and EMA.
In previous Bitcoin bear markets, the 100-week EMA crossing under the 100-week SMA came at the start of major BTC price downside — but 2026 is proving to be different.
“Historically, the weekly 100 EMA and SMA cross deep in the bear. Each prior cycle saw a 50%+ crash to the cycle bottom within weeks,” SuperBro wrote on X.
“This is an unprecedented bullish deviation from prior cycles.”
As Cointelegraph reported, Bitcoin’s 2025 performance has led to increasing claims that the four-year BTC price cycle theory is no longer valid.
Venezuela dictates market moves
All eyes are on risk assets and commodities this week as markets react to the US military move on Venezuela and its consequences.
The surprise headlines hit outside TradFi trading hours over the weekend, leaving crypto to deliver the world’s only real-time response.
The total crypto market cap has added 5% since Friday, retaking the $3 trillion mark.
More conspicuous, however, is its return to moving in the same direction as safe-haven assets gold and silver.
XAU/USD was up 2% at the time of writing on Monday, moving…
cointelegraph.com