Bitcoin slipped below $90,000 on Saturday as President Donald Trump ordered military strikes on Venezuelan sites. The cryptocurrency traded at $89,571 at press time, down from nearly $91,000 the previous day.
What Happened: Military Action
Trump directed strikes on military facilities inside Venezuela, U.S. officials told CBS News, escalating the administration's campaign against President Nicolás Maduro.
The strikes follow months of U.S. military buildup in the region, including deployment of the USS Gerald R. Ford aircraft carrier and multiple warships in the Caribbean.
Recent weeks saw the U.S. seize two oil tankers off Venezuela, launch deadly strikes on more than 30 boats the administration claims carried drugs, and hit what Trump called "the dock area where they load the boats up with drugs."
The Trump administration has accused Maduro of drug trafficking and collaboration with gangs designated as terrorist organizations, which Maduro denies.
Also Read: ZachXBT Reports Hundreds Of Wallets Drained For Under $2,000 Each Across Multiple Chains
Why It Matters: Market Impact
Social media analysts @AshCrypto and @BitcoinJunkies noted the timing coincides with cryptocurrency's attempted recovery.
On Christmas Eve, Trump declined to specify his goals but warned that if Maduro "plays tough, it'll be the last time he'll ever be able to play tough." Maduro said this week he remains open to talks with the U.S. on drug trafficking, oil and migration issues "wherever they want to whenever they want."
Read Next: Dogecoin Could Reach $10 Despite Recent Muted Trading, Analyst Projects
