Recently, there has been some activity in the crypto market. Bitcoin and Ethereum have successively broken through key levels—BTC surged to $92,000, and ETH also stabilized above $3,100. The timing of this rally is quite interesting, coinciding exactly with rumors that Venezuela may be accumulating large amounts of Bitcoin.

The market is speculating whether this country's "shadow" Bitcoin reserves could be comparable to those of major institutions. If this is true, Venezuela could join the ranks of major sovereign holders. This speculation actually makes sense—they have previously used USDT settlements in their oil trade.

Data from the options market is also changing. The put skew is narrowing, and there has been a noticeable influx of large buy orders in the forward contracts, indicating that market sentiment is heating up based on these details.

However, to be cautious—during the US trading hours, there have been multiple instances of quick rises followed by pullbacks in recent days. Whether the upward trend can truly stabilize remains uncertain. Analysts are also warning not to be fooled by the apparent gains.

In short, geopolitical factors are becoming a new variable in this market, but whether the true trend can take hold depends on subsequent developments.