Bitcoin Nears $92K as Crypto Market Surges Past $3.2 Trillion

Bitcoin’s price action over the weekend was a textbook example of cryptocurrency’s reactivity to geopolitical headlines. After closing 2025 in the red—the first post-halving year to do so—BTC began 2026 with momentum, surging from $88,000 to nearly $91,000 on Friday. However, this ascent faced an immediate rejection on Saturday morning following reports of explosions in Venezuela’s capital, Caracas, causing the price to slip to $89,300.

The narrative shifted rapidly as the United States confirmed it had carried out a successful military mission in Venezuela, resulting in the capture of the country’s president. This development, coupled with a subsequent address to the nation by former President Donald Trump, acted as a catalyst for renewed bullish sentiment. Bitcoin regained its footing and climbed to a multi-week peak of just under $92,000 earlier on Sunday, a level not seen since mid-December. Although it was stopped at that resistance, BTC continues to trade firmly above $91,000, marking a solid 4.2% increase for the week and pushing its market capitalization to $1.825 trillion.

While Bitcoin led the charge, the broader altcoin market posted even more impressive daily gains, contributing to a significant expansion of the total cryptocurrency market capitalization. Ethereum decisively reclaimed the psychologically important $3,100 level with a 1.4% daily increase. Ripple’s XRP surged 3.5% to approach $2.10, while BNB traded close to $890 and TRX neared $0.30. Other major assets like Solana (SOL), Cardano (ADA), and Bitcoin Cash (BCH) also marked notable advances.

This altcoin strength is reflected in Bitcoin’s market dominance, which declined from 57.7% to 56.9% over the past week according to CoinGecko data, indicating that capital is flowing into assets beyond the market leader. The collective rally added approximately $60 billion to the total crypto market cap in a single day, pushing it decisively above the $3.2 trillion threshold. This milestone underscores the scale of institutional and retail capital currently engaged in the digital asset space.

The weekend’s risk-on sentiment was particularly evident in the more speculative corners of the market. Meme coins, often seen as a barometer for retail trader enthusiasm, joined the rally with vigor. Dogecoin jumped 7% to trade well over $0.15, while peers PEPE and Shiba Inu (SHIB) posted double-digit percentage gains. The standout performer was BONK, which skyrocketed by 30% daily, a surge powerful enough to propel it back into the top 100 cryptocurrencies by market capitalization.

Notably, the market also saw strength in tokens linked to former President Donald Trump, with assets like WLFI trading in the green. This movement suggests a segment of the crypto market continues to price in political narratives and developments, mirroring the broader market’s reaction to Trump’s address over the weekend. The simultaneous rallies in established altcoins like Ethereum and XRP, alongside high-volatility meme coins and narrative-driven tokens, paint a picture of a market experiencing broad-based, if selective, bullish momentum.