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Bitcoin hits $94K after $420M in liquidations and geopolitical risk bid

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Bitcoin surged to $94,200 on Monday as leveraged wipeouts and safe haven momentum lifted majors to highs not seen since early December.

Bitcoin hits $94K after $420M in liquidations and geopolitical risk bid

Key Takeaways

  • Bitcoin surged past $94,000 as over $420 million in total liquidations hit the market in the past 24 hours.
  • The rally gained strength after the US military captured Venezuela’s Nicolás Maduro, boosting the safe haven narrative.

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Bitcoin surged past $94,000 on Monday, fueled by over $420 million in leveraged liquidations over the past 24 hours, according to CoinGlass data.

The rally began on Thursday as the new year kicked off and gained momentum over the weekend following news that the US military had captured Venezuelan president Nicolás Maduro, sparking renewed demand for safe-haven assets.

By 1:30 pm ET, Bitcoin was trading around $94,200—its highest level since early December. The rally lifted major tokens as well, with Ethereum rising to $3,200, Solana at $136, and XRP hitting $2.20.

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