This article first appeared on GuruFocus.

Bitcoin (BTC-USD) climbed to a three-week high in early Asian trading, as investors digested fresh geopolitical uncertainty following the US move to oust Venezuela’s president Nicolas Maduro over the weekend. During Monday morning trading, the largest cryptocurrency rose as much as 2.3% to $93,323, marking its strongest level since Dec. 11, while ether and other digital tokens also moved modestly higher. The advance unfolded alongside a broadly constructive tone in Asian markets, where equities have pushed to all-time highs on technology and artificial intelligence optimism, even as some investors rotated toward perceived safety, lifting gold by as much as 2% to above $4,400 an ounce and sending silver up as much as 4.8%.

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Bitcoin has alternated between behaving like a potential haven during periods of stress and trading more in line with traditional risk assets, depending on market conditions. In this instance, gains are being supported primarily by crypto-native firms focused on digital assets, combined with a lack of selling from Bitcoin miners, wealthy family offices, and other large investment funds, according to Sean McNulty, APAC derivatives trading lead at FalconX. That mix of buyers and muted selling pressure could be helping prices firm despite ongoing uncertainty tied to global political developments.

The move higher follows weeks of range-bound trading, after Bitcoin missed the year-end equity rally over the Christmas holidays and finished last year down 6.5%. It has underperformed in 2025 despite a series of policy advances in the US promoted by President Donald Trump, who has positioned himself as supportive of cryptocurrencies. Signs of shifting sentiment emerged on Jan. 2, when investors allocated $471 million to the 12 US-listed Bitcoin exchange-traded funds, the largest inflow since Nov. 11. Traders are now watching whether Bitcoin could sustain a break above the $94,000 level, with $88,000 viewed as an important downside area to monitor, McNulty said.