"Bitcoin jumps $3,000 after U.S. airstrikes on Venezuela…oil market seen as key swing factor"
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Summary
- After the U.S. military strike on Venezuela, Bitcoin (BTC) rose about $3,000 from its low, climbing to around $91,800.
- With traditional financial markets closed over the weekend, the crypto market saw relatively active trading, with most tokens posting gains.
- Markets are focused on the potential for heightened volatility around the opening of the oil futures market, warning that additional volatility is inevitable in financial markets, especially after the crude oil market reopens.
Bitcoin (BTC) rose about $3,000 after the United States launched a military strike on Venezuela, but some analysts say sustained volatility may emerge after the oil futures market opens.
According to CryptoPotato, a crypto-focused outlet, Bitcoin quickly rebounded after a short consolidation following the initial shock in Caracas, Venezuela’s capital, climbing to around $91,800—its highest level since Dec. 12 last year. It later retraced slightly and is now trading around $91,300.
Bitcoin has gained roughly $3,000 from its post-attack low since the U.S. assault on Venezuela began. With traditional financial markets closed over the weekend, the crypto market saw relatively active trading, with most tokens posting gains.
Volatility was particularly pronounced in some tokens said to be linked to President Donald Trump. The World Liberty Financial (WLFI) token surged 14% in a single day, while the Official Trump (TRUMP) token rose about 7%, ranking among the session’s top gainers.
Markets are watching for the potential expansion of volatility around the reopening of oil futures trading. As President Trump said the United States would manage Venezuela’s oil industry, some analysts are pointing to the resumption of oil futures trading on the 4th (local time) as a key inflection point.
The Kobeissi Letter, a market-analysis newsletter, said, "Venezuela holds more than 300 billion barrels of oil reserves, and there is a possibility these resources could come under U.S. control." Assuming an oil price of $57 per barrel, the total value of the reserves would be about $17.3 trillion.
The Kobeissi Letter added, "Even if the crude were sold at roughly half the market price, it would still amount to about $8.7 trillion—exceeding the gross domestic product (GDP) of every country except China and the United States." It also warned that "most people do not recognize how dramatically this has changed the global order," adding that "additional volatility is inevitable in financial markets, particularly after the oil market opens."
