Bitcoin News: Bitcoin Price Hits $94K as Crypto Trading Volume Falls to Lowest Since Late 2023
Bitcoin climbed to its highest levels in nearly a month on Monday, pushing above $94,000 as global risk assets and precious metals moved higher following geopolitical developments tied to the U.S. operation in Venezuela.The advance came despite mounting concerns over thin market liquidity, with onchain data showing crypto trading volumes at their lowest levels since late 2023 — a divergence that has split near-term outlooks among traders.Bitcoin seeks fresh monthly highs on Venezuela catalystData from TradingView showed BTC reaching a year-to-date high of $94,026 on Bitstamp, marking its strongest price since mid-December.The move coincided with gains across traditional markets. U.S. equities opened higher, with both the S&P 500 and Nasdaq Composite up around 1% at the time of writing. Gold also rallied sharply, rising more than 2.5% to trade near $4,455 per ounce, reinforcing the broader risk-on tone.“Asset owners keep on winning,” macro trading resource The Kobeissi Letter wrote in a post on X, reacting to the synchronized move across asset classes.Bitcoin built on its recent recovery by reclaiming several technically significant levels, including the 50-day exponential moving average (EMA) near $91,600, as well as the 2025 yearly open around $93,500.Traders eye breakout, but spot demand remains keyMarket participants said Bitcoin’s ability to hold above $94,000 will be critical in determining whether the move can extend into a broader breakout.“Good to see $BTC finally showing a bit of strength,” trader Max Rager wrote on X. “Retesting the 2025 yearly open and a major level for Bitcoin price over the past year. Would like to see a break and hold above $94k and then could see a push back over $100k.”Other analysts echoed the view that upside continuation will hinge on spot market participation.Commentator Exitpump said further gains would “depend on spot buyers,” while crypto trader and analyst Michaël van de Poppe described the current zone as the final barrier before a potential move into six-figure territory.“Final hurdle before $100K: that’s where Bitcoin is currently at,” van de Poppe wrote. “I wouldn’t expect a clear-cut, immediate breakout; however, I do expect to see it happen in the coming week. The year started bullish.”Crypto volume crash raises caution flagsDespite the bullish price action, concerns are growing over a lack of market engagement.Veteran Bitcoin analyst Willy Woo warned that thin order-book liquidity and subdued trading activity could make recent gains fragile.“I think we get a short-term pump for January,” Woo wrote on X, citing early signs of a local liquidity bottom. However, he cautioned that the rally may lack durability without stronger participation.Onchain analytics firm Glassnode reinforced those concerns, reporting that crypto spot trading volumes have fallen to their lowest levels since late 2023.“This weakening demand contrasts sharply with upside moves across the market,” Glassnode said, warning that recent price strength is occurring against a backdrop of increasingly thin liquidity.Market split between momentum and structureThe divergence between rising prices and falling volume has left the market divided. Bulls argue that improving sentiment, seasonal tailwinds, and macro catalysts could support further upside. Bears counter that without a pickup in spot demand and liquidity, the rally risks becoming vulnerable to sharp pullbacks.For now, Bitcoin’s ability to hold above the $93,500–$94,000 zone remains the key technical test as traders assess whether early-2026 strength can evolve into a sustained trend — or fade amid structurally weak participation, according to Cointelegraph.