US-Venezuela Gold Deal Boosts Bitcoin and Precious Metals

The US-Venezuela gold deal has sparked a positive sentiment in the precious metals and crypto markets, leading to a rebound in both bitcoin and gold prices.

According to reports, Venezuela's state-owned mining company Minerven has signed a multimillion-dollar contract with global commodities trader Trafigura to supply up to 1,000 kilograms of gold dore bars to US refineries. The deal was facilitated by the Trump administration under arrangements involving the US government.

The agreement aligns with broader US efforts to deepen commercial ties with Venezuela following the January 2026 US military operation that ousted former President Nicolas Maduro. Interim President Delcy Rodriguez has signaled upcoming reforms to Venezuela's mining laws, aiming to attract foreign investment in gold, minerals, and rare earths.

As a result of this development, bitcoin prices have surged, with the cryptocurrency trading at $72,815, moving towards the 50-day moving average at $75,878. The 24-hour low and high are $67,482 and $74,051, respectively. Trading volume has increased by 46% over the last 24 hours, indicating massive interest among traders.

Bitcoin futures open interest jumped more than 12% to $49.45 billion in 24 hours, signaling bullish sentiment among derivatives traders. CoinGlass data showed a significant increase in total Bitcoin futures open interest on CME and Binance.