BTC US$93.6k. Record Ethereum usage, with low fees & big inflows
After a disappointing 2025, in which the Bitcoin price declined for the first time in a post-halving year, 2026 is already looking more promising. Bitcoin is up 7.5% from the same time last week, trading around A$139,529 (US$93,693), while Ethereum gained 9.5% to trade around A$4,781 ($3,210). Ripple surged by a whopping 26.5% while Solana (11.7%), Dogecoin (22.5% and Cardano (18.9%) all saw significant gains. Geopolitical strife typically weighs heavily on markets, but the US military operation in Venezuela has seen both crypto and traditional markets rise in its aftermath. One theory suggests that President Trump’s promises of increased oil production will result in lower energy prices. Crude oil has already fallen, which will, in turn, result in lower inflation and, consequently, boost asset prices. While the end of sanctions could lead to a bump in near-term oil production, analysts say that getting Venezuela back up to full production will likely take years and US$100 billion (A$149B) in infrastructure. Another bright spot for crypto was the fact that end-of-year crypto tax loss harvesting in the US (AKA wash trading that pushes down prices) stopped on December 31. Sentiment has risen, and after three weeks of extreme fear, the Crypto Fear and Greed Index is finally back to just 26 or Fear today. Santiment analyst Brian Quinlivan said its social media analysis showed sentiment is even better than that and is actually "very positive at the moment."
