If you're looking for evidence that crypto markets feed off geopolitical drama, Sunday evening delivered exactly that. Major cryptocurrencies spiked after the U.S. struck Venezuela and toppled Maduro's regime, with stock futures holding relatively steady amid the headlines.

Here's where the leading cryptocurrencies stood as of 8:25 p.m. ET:

Short Squeeze Drives Bitcoin Rally

Bitcoin nearly punched through $93,000 Sunday evening as millions of dollars worth of short positions got absolutely crushed. Trading volume for the apex cryptocurrency surged 30%, signaling intense buying pressure that caught bearish traders off guard.

Since U.S. operations in Venezuela began, Bitcoin has climbed nearly 4%. That's not just a coincidence—markets clearly responded to the geopolitical shift.

The carnage in the derivatives market tells the real story. According to Coinglass, over $117 million was liquidated from the cryptocurrency market in just one hour. An overwhelming $115 million of that came from bearish short positions getting wiped out.

Meanwhile, Ethereum reached an intraday high of $3,210 after finally breaking through the critical resistance level at $3,100. That's a meaningful technical move traders have been watching for weeks.

Despite the upward price action, the Crypto Fear and Greed Index still showed "Fear" sentiment prevailing in the market. Sometimes fear and rising prices coexist—go figure.

Top Gainers (24 Hours)

The global cryptocurrency market capitalization increased to $3.13 trillion, up 0.68% over the last 24 hours.

Stock Futures Stay Calm After Maduro Capture

While crypto went wild, stock futures barely budged Sunday evening. Futures tied to the S&P 500 gained a modest 0.05%, while Nasdaq 100 Futures rose 0.24%. The Dow Jones Industrial Average Futures slipped 21 points, or 0.04%, as of 7:45 p.m. EDT.

The muted response came despite major geopolitical headlines following U.S. military strikes on Venezuela, where forces captured President Nicolás Maduro and his wife, Cilia Flores.

Trump later announced that U.S. oil companies are preparing to invest billions in Venezuela's oil industry following Maduro's ouster. That's the kind of news that usually moves energy markets.

And indeed, oil prices traded higher. Brent crude gained 0.76% to $61.24 per barrel, while U.S. West Texas Intermediate rose 0.61% to $57.66.

Analysts Eye Bitcoin's Path to $100,000

Widely followed cryptocurrency analyst and trader Ali Martinez spotted a symmetrical triangle pattern for Ethereum, signaling a potential breakout that could yield a 30% move in either direction. That's the kind of technical setup that gets traders excited—or nervous, depending on which side they're on.

Michaël van de Poppe, another popular cryptocurrency commentator, stated that Bitcoin is "fighting the final resistance" before a potential break to $100,000.

"Great move, I think that we'll see a slight pullback to close the CME gap tomorrow, and after that, markets are ready to continue breaking upwards to $100,000," Van De Poppe predicted.

Whether Bitcoin actually reaches that psychological milestone depends on whether buyers can maintain this momentum and push through remaining resistance levels. The liquidation of shorts certainly helps clear the path, but there's always another resistance level waiting.