Core Insights - Bitcoin (BTC) is experiencing a positive start to 2026, trading near $92,700, with a 1.3% increase in the last 24 hours and a 5% rise in the first five days of the year [1] - Major altcoins such as XRP, SOL, BNB, and ETH have also seen gains of 1%-3% recently, indicating a mixed performance in the broader altcoin market [2] Market Dynamics - The CoinDesk 20 Index (CD20) increased by 1.25%, reflecting strength in major assets, while the CoinDesk 80 Index (CD80) showed weakness, indicating a divergence in market performance [2] - Analysts attribute Bitcoin's price rise to safe-haven demand following U.S. actions in Venezuela and a reduction in tax-related selling pressure [2] Trader Sentiment - There is renewed demand for bullish options, particularly for the $100,000 strike call, with significant inflows into ETFs noted on January 2nd after a period of outflows [3] Geopolitical Factors - Following the U.S. attack on Venezuela and the capture of President Nicolás Maduro, speculation has arisen regarding Venezuela's potential control of over $60 billion in Bitcoin reserves, which could be seized by the U.S. [4] - The possibility of the U.S. adding seized Bitcoin to its strategic reserve is seen as a factor that could stabilize Bitcoin's price and reduce forced selling [5] Oil Market Implications - The narrative surrounding President Trump's potential access to Venezuela's oil reserves could impact oil prices, but analysts caution that the extraction of Venezuelan crude is complex and costly, which may limit immediate effects on the market [6] Technological Developments - Ethereum co-founder Vitalik Buterin announced that the network has effectively addressed the blockchain scalability trilemma through upgrades like zkEVMs and PeerDAS, enhancing decentralization, security, and transaction speed [7]