Recent geopolitical tensions surrounding the US-Venezuela crisis have shed light on crypto’s role during global uncertainty, especially regarding typical safe-haven assets such as gold and silver. Following reports of US military action and the detention of Venezuelan President Nicolás Maduro, financial markets briefly entered a risk-sensitive phase, with cryptocurrencies making gains.
Sathvik Vishwanath, co-founder and CEO of Unocoin, noted that Bitcoin and major digital assets recovered, with the former crossing the $94,000 mark. This price action reignited the digital haven narrative, indicating that some investors still see crypto as a hedge against geopolitical instability, alongside gold and silver, and not just as a speculative risk asset.
Oil deals
Venezuela and its state oil company PDVSA have reportedly used dollar-pegged stablecoins such as USDT since 2024 to facilitate oil transactions while circumventing US financial restrictions. This use case could strengthen the strategic case for cryptocurrencies in the long term, especially in regions facing capital controls or sanctions.
“Speculation surrounding unconfirmed Bitcoin ‘shadow reserves’ reportedly held by Venezuela – estimated at up to $60 billion – has fueled bullish sentiment. The possibility that such assets could be seized and retained by US authorities rather than liquidated has been interpreted as a potential supply-constraining event for Bitcoin,” he noted.
The rising demand for traditional hedges did not come at the expense of crypto. Gold and silver rose about 2.7 percent and 5.4 percent respectively, alongside Bitcoin, indicating a diversified flight to alternative stores of value. This trend suggests that investors are spreading risk across multiple hedging assets rather than choosing between precious metals and crypto.
However, according to Vikram Subburaj, CEO of Giottus, Bitcoin’s strongest performance in several weeks comes amid warnings that participation remains thin. The price has moved back above key levels such as the 50-day EMA and the annual open, signaling a shift in the short-term trend from weakness to strength. That said, spot volumes are at their lowest since late 2023, and order books remain tight, making the rally more sensitive to marginal flows and increasing the risk of sharp gains or abrupt pullbacks.
“Equities, gold and Bitcoin benefited from the market’s initial reaction to the US-Venezuela developments, reinforcing the short-term narrative of ‘asset owners winning’. The same environment highlights the fragility: liquidity in crypto has not recovered since the liquidation in October, with Glassnode data showing demand lagging price. The result is a market that can move higher with less capital. The market also remains vulnerable if sentiment or flows reverse. Until volumes and depth return built up, strength should be viewed as provisional rather than decisive,” he says. said.
Published on January 6, 2026
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