Crypto, Commodities, and Asian Stocks Rally on AI Momentum and Geopolitical News

Cryptocurrency markets surged Monday, tracking gains in commodities and Asian equities as AI-driven momentum combined with geopolitical developments to drive a broad risk-on rally.

Bitcoin briefly touched $93,000, trading around $93,824, up roughly 1% over 24 hours and 3% for the week. Ether (ETH) held near $3,184, XRP climbed above $2.18, and Solana (SOL) hovered near $136. Dogecoin (DOGE) eased slightly but remained up 17% over the past week, leading major tokens.

Derivatives activity amplified the rally. Liquidations exceeded $260 million in 24 hours, with shorts accounting for about $200 million as late sellers were forced to cover. In just four hours, over $121 million in short positions were wiped out, compared to under $9 million in long liquidations. On Hyperliquid, shorts made up 54.4% of liquidated positions versus 45.6% for longs, highlighting crowded bearish bets.

The crypto rally coincided with broader market strength. Asian equities hit record highs as technology stocks extended last year’s AI-driven momentum. Brent crude stabilized after early weakness tied to Venezuela, while gold jumped above $4,400 an ounce and silver posted even larger gains.

Traders attributed the early-year surge to positioning and relative value. “Traders are jumping in to exploit price inefficiencies,” said Jeff Mei, COO of BTSE, noting cryptocurrencies remain far below all-time highs even as equities and precious metals hit new records.

Weekend geopolitical developments added fuel: the U.S. detained Venezuelan President Nicolás Maduro, with former President Donald Trump suggesting no troops would be deployed if acting President Delcy Rodríguez “does what we want,” reinforcing market optimism.