Bitcoin Approaches $95K as Market Grows by $250 Billion in 2026

The cryptocurrency market has kicked off 2026 on a robust note, with Bitcoin leading the charge. The total market capitalization has surged past $3.2 trillion, bolstered by significant gains across the sector.

Key Takeaways

The cryptocurrency market cap has increased to approximately $3.2 trillion, adding nearly $250 billion in 2026.
Bitcoin surged past $94,000, showing positive market sentiment and increased buying interest.
Major altcoins like Ethereum and Solana also recorded significant gains, following Bitcoin's upward trend.
A wave of liquidations in the derivatives market forced many traders to buy back positions, further amplifying price increases.
Recent geopolitical events in Venezuela have sparked speculation about the country's crypto holdings, notably Bitcoin.

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Global Crypto Market Gains Momentum

At the start of the new year, the total value of the cryptocurrency market was approximately $2.96 trillion. Since then, it has expanded by around 7.7%, resulting in an addition of nearly $250 billion in market capitalization. In the last 24 hours, the market experienced an increase of about 1.5%. This rise brought the total crypto capitalization to $3.20 trillion, as reported by CoinMarketCap, highlighting a renewed interest in major assets.

Bitcoin Breaks Through $94K as Market Sentiment Improves

On Tuesday, Bitcoin took the lead in the upward market movement, breaking above the $94,500 mark and attracting strong buying interest. As of the latest update, Bitcoin was trading near $93,332, having posted a daily increase of about 0.79%, and a more than 6% rise over the past week. This increase followed a significant reset in leveraged trading positions and appeared to be fueled by growing global tensions, which have driven demand for alternative assets.

Bitcoin and crypto performance

Major Altcoins Follow Bitcoin’s Lead

The upward momentum of Bitcoin encouraged a rally among other major altcoins. Ethereum surged approximately 1.5% to trade near $3,214 and has gained about 8% over the previous week. Similarly, Solana rose by around 1.4% on the day, bringing its weekly increase to over 10% as investor risk appetite expanded. Notably, XRP also distinguished itself among larger cryptocurrencies by rising roughly 9% in a single session, reflecting a nearly 26% gain over the past week, trading around $2.33.

Liquidation Wave Clears Derivatives Markets

Recent price fluctuations prompted a sharp upheaval in the derivatives market, where a wave of liquidations eliminated heavily crowded positions, particularly among bearish traders. Data from CoinGlass indicates that approximately $418.62 million in futures contracts were liquidated over the past 24 hours. Notably, short positions accounted for $330.16 million of this total, while long positions amounted to $88.46 million. This imbalance suggests that many traders were positioned against increasing prices, leading to forced buybacks that amplified the price rally.

Global Crypto Market Liquidations

Venezuela Developments Add Market Volatility

Recent geopolitical events have added another layer of uncertainty to the market landscape. Notably, U.S. operations targeting Venezuela’s leadership have coincided with increasing volatility across global financial markets. U.S. forces captured Venezuelan President Nicolás Maduro, and both he and First Lady Cilia Flores were subsequently detained and transported to the United States. They now face charges in New York related to weapons and drug offenses. U.S. President Donald Trump has stated that the U.S. will oversee Venezuela during this transitional period.

Speculation Grows Around Venezuela’s Crypto Holdings

In the wake of Maduro’s detention, market focus shifted to speculations concerning Venezuela’s cryptocurrency holdings, especially Bitcoin. An investigative report by The Whale Hunt suggested that Venezuela may possess a concealed Bitcoin reserve valued between $60 billion and $67 billion. However, information from BitcoinTreasuries reveals a starkly different picture, indicating that Venezuela's known Bitcoin holdings are merely 240 BTC, worth approximately $23 million. The disparity between these figures has fueled intense debate within the crypto community.

Seizure Risk Seen as a Possible Shift in Bitcoin’s Narrative

The conversation has shifted toward the potential for U.S. authorities to seize Venezuelan digital assets. During a CNBC segment, journalist MacKenzie Sigalos touched upon this issue, suggesting that the seized state-held Bitcoin could transform the narrative around the asset. She pointed out that even the mere possibility of such seizures could bolster Bitcoin's attractiveness as a hedge against political instability.

Disclaimer: This content serves informational purposes only and should not be construed as financial advice. The opinions expressed in this article may reflect the author's personal views and do not necessarily represent those of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment choices. The Crypto Basic is not liable for any financial losses.