Daily Market Update: Bitcoin Posts Five-Day Win Streak as Stock Futures Rise on Venezuela News

TLDR

• Bitcoin rose over 1% during Monday’s Asian trading session, setting up for a five-day winning streak, the longest since early October
• The leading cryptocurrency jumped from roughly $91,480 to $92,500, with prices topping $93,000 at one point during the session
• Tax-loss selling has subsided after December, allowing trading desks to deploy risk into the new year, according to analyst Markus Thielen
• Bitcoin spot ETFs pulled in over $471 million on Friday, the largest single-day inflow since November 11
• US stock futures rose Monday morning following military action in Venezuela that led to the arrest of President Nicolás Maduro

Bitcoin climbed over 1% during Monday’s Asian trading session. The move positioned the cryptocurrency for its longest winning streak since early October.

The leading cryptocurrency by market value jumped from roughly $91,480 to $92,500. Prices topped $93,000 at one point during the session.

Major alternative cryptocurrencies also posted gains. XRP, Solana, and Ether rose between 0.7% and 1% during the same period.

Tax-loss selling refers to when investors sell assets at a loss to offset capital gains. This strategy helps reduce overall tax liability for the year.

Bitcoin and the wider crypto market remained depressed through December. US-based holders reportedly liquidated holdings at a loss before year-end for tax purposes.

Market Performance and ETF Flows

Bitcoin underperformed Nasdaq, gold, and other precious metals through 2024. The cryptocurrency ended the year with a 6% loss.

The performance was particularly weak during North American trading hours in the final weeks of December. Trading desks now have more flexibility to deploy risk in the new year.

The 11 bitcoin spot exchange-traded funds pulled in over $471 million on Friday. This marked the largest single-day inflow since November 11, according to data source SoSoValue.

Geopolitical Factors and Stock Markets

Bitcoin’s latest uptick coincides with geopolitical developments in Venezuela. US military action over the weekend led to the capture of President Nicolás Maduro.

US stock futures posted gains Monday morning. Dow Jones Industrial Average futures inched up 0.1%, while S&P 500 futures rose 0.2%.

Nasdaq 100 futures climbed about 0.5%. The moves came as investors assessed the Venezuela situation heading into the first full week of 2025.

Market strategists largely downplayed long-term economic fallout from the Venezuela action. The country produces less than 1 million barrels of oil per day, under 1% of global output.

Bitcoin spot ETFs recorded their largest daily inflow since November 11 on Friday, pulling in over $471 million as the cryptocurrency positioned for its longest winning streak since early October.

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