Why Bitcoin Surged Nearly 5% Over This Weekend

Group 1 - The recent capture and ousting of Venezuelan president Nicholas Maduro has created uncertainty in the market, particularly regarding the impact on cryptocurrencies [1] - Bitcoin's price has surged by 4.9% since Friday's close, reaching nearly $95,000, indicating a positive market reaction to recent events [2] - Investors are adopting a risk-on sentiment, influenced by lower oil prices and bullish expectations surrounding federal tax refunds, which are driving interest in equities and cryptocurrencies [4] Group 2 - The current bullish trend in Bitcoin is attributed to diminishing recessionary concerns, with expectations of continued rally through the end of the first quarter [5] - Bitcoin's transaction volume has increased significantly, from around 300,000 daily transactions last year to approximately 500,000 currently, indicating a healthier market for Bitcoin investors [6] - Despite geopolitical events in Venezuela, investors remain optimistic, with Bitcoin and other risk assets experiencing upward movement [8]