Bitcoin briefly hits $93,000 as crypto market extends new year rally with $260 million in liquidations

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Bitcoin briefly hits $93,000 as crypto market extends new year rally with $260 million in liquidations The rally in crypto was mirrored by a surge in commodities and Asian equities, driven by AI-led momentum and geopolitical developments. By Shaurya Malwa Updated Jan 5, 2026, 4:55 a.m. Published Jan 5, 2026, 4:45 a.m. Bitcoin BTC $ 92,439.26 briefly touched $93,000 on Monday as traders leaned into a fresh risk bid across markets following a U.S. ousting of Venezuela, while year-opening flows pushed major tokens higher after a choppy finish to 2025. BTC traded up about 1% over 24 hours and roughly 3% over seven days, while ether held near $3,160, also higher on the day. XRP added around 3% to above $2.10, extending its early January outperformance, while Solana hovered near $136. Dogecoin eased on the day but remained up 17% over the past week, the highest gains among majors. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . Derivatives positioning amplified the move. Liquidations crossed $260 million over 24 hours, with shorts accounting for about $200 million, showing late sellers were forced to cover as prices pushed higher. The rally came alongside strength in risk assets and another surge in commodities. Asian equities climbed to a record as investors piled into technology shares, extending last year’s AI-led momentum. Brent crude steadied after early weakness tied to the Venezuela developments, while gold jumped sharply back above $4,400 an ounce and silver posted an even larger move. Traders said the start-of-year bid reflects a mix of positioning and relative value, with crypto still far below its peaks while other assets sit near records. “We believe that in the new year, traders are jumping in to exploit price inefficiencies,” Jeff Mei, chief operating officer at BTSE, said in a Telegram message, noting cryptocurrencies remain well off their all-time highs as equities and precious metals keep printing new records. A move in markets began over the weekend as the U.S. took Venezuelan president Nicolás Maduro was into custody, with Donald Trump signaling a He also suggested U.S. troops on the ground would not be necessary as long as acting Venezuelan president Delcy Rodríguez “does what we want.” More For You KuCoin Hits Record Market Share as 2025 Volumes Outpace Crypto Market By CoinDesk Research Dec 22, 2025 Commissioned by KuCoin KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market. What to know : KuCoin recorded over $1.25 trillion in total trading volume in 2025 , equivalent to an average of roughly $114 billion per month , marking its strongest year on record. This performance translated into an all-time high share of centralised exchange volume , as KuCoin’s activity expanded faster than aggregate CEX volumes , which slowed during periods of lower market volatility. Spot and derivatives volumes were evenly split , each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line. Altcoins accounted for the majority of trading activity , reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover. Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity , indicating structurally higher user engagement rather than short-lived volume spikes. View Full Report More For You Asia Morning Briefing: Data shows legacy media took a more balanced view of bitcoin in 2025 By Sam Reynolds | Edited by Aoyon Ashraf 3 hours ago Media attention shifted from bitcoin’s environmental footprint to crime and kidnapping in 2025, while overall sentiment remained broadly neutral, according to crypto intelligence platform Perception. What to know : In 2025, mainstream media coverage of Bitcoin became more balanced, with neutral reporting surpassing negative stories. The shift in narrative was driven by the exhaustion of earlier critiques rather than increased enthusiasm for Bitcoin. AI emerged as the dominant topic in media, overshadowing Bitcoin and driving more significant sentiment swings. 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