Bitcoin jumps to $93,000 as New Year rally continues, with liquidations totaling $260 million across the market.

Crypto, Commodities, and Asian Stocks Surge on AI Momentum and Geopolitical News

Cryptocurrencies climbed Monday, tracking gains in commodities and Asian equities as AI-driven momentum combined with geopolitical developments to drive a broad risk-on rally.

Bitcoin briefly touched $93,000, trading near $93,824, up about 1% over 24 hours and 3% for the week. Ether (ETH) held around $3,184, XRP rose above $2.18, and Solana (SOL) hovered near $136. Dogecoin (DOGE) eased slightly on the day but remained up 17% over the past week, leading major tokens.

Derivative activity amplified the move, with $260 million in liquidations over 24 hours, including roughly $200 million in shorts. In four hours alone, over $121 million in short positions were wiped out, compared to under $9 million in longs. Shorts accounted for 54.4% of liquidations on Hyperliquid, highlighting crowded bearish positions.

The rally coincided with strength in other markets. Asian equities hit record highs as tech stocks extended last year’s AI-driven momentum. Brent crude steadied, while gold climbed above $4,400 an ounce and silver posted even larger gains.

Traders attributed the surge to early-year positioning and relative value. “Traders are exploiting price inefficiencies,” said Jeff Mei, COO of BTSE, noting cryptocurrencies remain far below all-time highs even as equities and precious metals hit new records.

Geopolitical developments added fuel: the U.S. detained Venezuelan President Nicolás Maduro, with Donald Trump suggesting no troops would be deployed if acting President Delcy Rodríguez “does what we want,” reinforcing investor optimism.