Crypto market holds firm as Bitcoin climbs nears $94,000 after nearly a month

Synopsis

Bitcoin hovers near $94,000 while Ethereum stays above $3,200 as major altcoins rally. Market optimism is supported by institutional activity and US-Venezuela geopolitical developments.

Bitcoin hovers around the $94,000 mark after nearly one month, Ethereum remains above $3,200 and the total market capitalisation rose 1.68% to $3.2 trillion, supported by strong performance across large caps. The cryptocurrency was trading at $93,812 and Ethereum was trading at $3,224 on Tuesday.

In the past 24 hours, Bitcoin and Ethereum were up by 1.52% and 1.99% respectively. Among the major altcoins, XRP, BNB, Solana, Dogecoin, Cardano and Hyperliquid gained over 12% in the past 24 hours, whereas Tron was down 0.58% in the same period.

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Riya Sehgal, Research Analyst, Delta Exchange said that traders attributed the rally to early-year repositioning and optimism following US military operations in Venezuela, which analysts say could eventually lower global energy costs and support Bitcoin mining economics.
Crypto TrackerTOP COINS (₹) XRP216 (12.66%)Ethereum290,739 (1.87%)BNB81,694 (1.2%)Bitcoin8,447,529 (1.1%)Tether90 (-0.09%)
Overall, the market’s tone remains constructive, with institutional activity, regulatory progress and a broader risk-on environment positioning crypto assets for potential continuation gains through mid-January, Sehgal added.

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In the past week, Bitcoin and Ethereum were up by 7.54% and 9.40% respectively. Among the major altcoins, XRP, BNB, Solana, Tron, Dogecoin, Cardano and Hyperliquid were up by over 28% in the past week.

CoinSwitch Markets Desk says that crypto prices strengthened during the US trading session, a clear departure from late-2025 behaviour, when markets consistently sold off alongside US equities.

“The coming days remain critical, particularly around US geopolitical developments, which could significantly influence trader sentiment. The best-case scenario involves BTC holding the $93K–$94K range and gradually testing the $95K resistance zone,” CoinSwitch Markets Desk further added.

Here is what other analysts say

After a significant run, the markets are cooling a bit as the bulls appear to be exhausted, but are not expected to remain passive.

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Vikram Subburaj, CEO, Giottus

The move comes with the clear caveat that participation is thin. Price has reclaimed key reference levels such as the 50-day EMA and the yearly open. Macro conditions have provided a supportive backdrop without fully validating the move. Equities, gold and Bitcoin have all benefited from the initial market response to the US-Venezuela developments that reinforces a short-term “asset owners win” narrative.

Growing concerns around the US debt reaching a record $38.6 trillion are strengthening Bitcoin’s appeal as a long-term hedge. Institutional participation continues to support the move, with firms like Strategy adding over $116 million worth of BTC.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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