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Cryptocurrency is increasingly being used as a stand-in (and in some cases, a replacement) for the stock market, and that was made clear this weekend as investors braced for an oil price shock worth $17 trillion amid Nicolás Maduro's capture.
It would have been impossible to predict quite how central to the political and economic world Bitcoin would become around a decade ago, as the leading cryptocurrency has not only skyrocketed in price, but remains a key indicator of how the market is feeling following major political and global events.
Donald Trump's election victory in November 2024 kickstarted the crypto revolution with Bitcoin's price surging beyond the $100,000 mark for the very first time, and his continued enthusiasm for the alternative currency has only further cemented its importance.
This was able to be witnessed once again over the weekend following the capture and detainment of Venezuelan president Nicolás Maduro by US forces, as while the stock and oil futures markets remained static outside of trading hours, the continued activity of cryptocurrency displayed how investors were feeling.
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As reported by Forbes, Bitcoin's price has jumped by around 5 percent across the last few days, sitting above $90,000 for the first time in just under a month as it had frequently dropped into the low $80,000 range.
The wider cryptocurrency market reportedly added around $100 billion following Maduro's capture, with analysts bracing for a $17.3 trillion oil price 'upheaval' that will have a significant affect on the price of these coins going forward.
This all revolves around news that the United States would be taking control of Venezuela's oil reserves — which are estimated to be around a fifth of the global total with roughly 300 billion barrels worth of crude oil.
Trump has also instructed companies to invest in the valuable material, asserting in a news conference: "We're going to have our very large United States oil companies – the biggest anywhere in the world – go in, spend billions of dollars, fix the badly broken infrastructure, the oil infrastructure."
What this means for Bitcoin and crypto is split into two parts, as not only does this solidify the currency as a key method for market reactions, but it could also indicate further price rises in the future as the market settles.
"Trump wants stock markets to have 48 hours to absorb the news," explained analyst Lark Davies in reference to the move happening on Friday night, adding that "this makes Bitcoin the front-running indicator of sentiment."
One of the concerns I had going into 2026 was a high oil price acting as a headwind for Bitcoin, similar to 2022.
— James Van Straten (@btcjvs) January 4, 2026
Oil staying low will contain inflation and the long end of the yield curve.
Trump can run it hot, for the first six months, without inflation being a concern.
Oil prices are expected to fall following news that the United States will be absorbing Venezuela's reserves, and this will likely increase inflation, leading to a potential boost for Bitcoin.
Sharing to X, Coindesk analyst James Van Straten revealed: "One of the concerns I had going into 2026 was a high oil price acting as a headwind for Bitcoin, similar to 2022.
"Oil staying low will contain inflation and the long end of the yield curve. Trump can run it hot, for the first six months, without inflation being a concern."
