The news of a U.S. military strike on Venezuela might have felt like a "drop everything" moment for global markets, but Bitcoin seems to be taking it in stride. According to Michael van de Poppe, the reason we aren't seeing a crypto sell-off is simple: the event was a quick, 30-minute coordinated strike that has already passed. Markets hate uncertainty more than anything else, and because this felt like a contained event, traders didn't run.
Bitcoin Remains Firm Above $90,000
Instead of crashing, Bitcoin climbed back toward $91,290. Most of the people who lost money were the short sellers betting the price would collapse. When Bitcoin held its ground, those bets backfired to the tune of $55 million.
Bitcoin price is up 4.19% over the past seven days. Source: CoinMarketCap
Learning from the Past
Bitcoin has indeed been jumpy in the past. Just last summer, the price slid by about $3,000 in just 90 minutes following explosions in Tehran. However, analyst Shagun Makin pointed out that Bitcoin is developing a "thick skin" — proving it can stay firm above that crucial $90,000 mark. By holding steady, it is sending a clear message: it takes more than a 30-minute strike to rattle the digital gold crowd these days.
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