Coinbase among best S&P performers as bitcoin hits highest level in 3+ weeks

Watch on YouTube ↗  |  January 05, 2026 at 19:34  |  2:35  |  CNBC
Speakers
Mackenzie Sigalos — Crypto Reporter/Analyst, CNBC
Kelly Evans — Anchor, The Exchange (CNBC)

Summary

CNBC's MacKenzie Sigalos reports on the crypto market rebound, with Bitcoin rising above $94,000 and Coinbase among top S&P performers after a Goldman bullish call. She outlines bullish catalysts including potential Venezuelan oil supply relief, reports of a Venezuelan Bitcoin reserve, technical short covering, and strong spot Bitcoin ETF inflows. She also flags a looming MSCI decision that could disqualify Strategy and Bitmine Immersion from indexes, creating a potential headwind.

  • Coinbase rises 7% after Goldman bullish call.
  • Bitcoin pushes past $94,000, back above 50-day moving average.
  • Traders cite Venezuela oil supply and potential BTC reserve as catalysts.
  • Spot Bitcoin ETFs see about $500M net inflows on first trading day of year.
  • Deribit $100k call is most popular options bet.
  • MSCI decision in ten days could disqualify Strategy and Bitmine Immersion from indexes.
  • Tom Lee-backed Bitmine Immersion is an Ether proxy trade.
  • Tom Lee previously called for a 6-8 week shakeout.
Ideas
Mackenzie Sigalos Crypto Reporter/Analyst, CNBC 0:29
Bitcoin rallies on macro, supply, technicals
Bitcoin is pushing past $94,000 as traders bet a Venezuela-related shakeup could be positive for risk assets. The bull case is macro: if Trump ramps Venezuelan oil production, more supply could mean cheaper energy, less inflation pressure, and looser financial conditions that favor crypto. Reports that Venezuela may have amassed a large Bitcoin reserve, and that the U.S. could seize and add those coins to a strategic reserve, could lock up supply. Technicals support the move: Bitcoin reclaimed its 50-day moving average for the first time since October, forcing shorts to cover, and the $100,000 call is now the most popular Deribit bet. Spot Bitcoin ETFs also saw about $500 million in net inflows on the first trading day of the year as tax-loss harvesting ended.
BTC Spot Bitcoin ETFs HIGH
Mackenzie Sigalos Crypto Reporter/Analyst, CNBC 2:24
MSCI decision threatens Strategy, Bitmine
MSCI will decide in ten days whether to classify companies like Strategy and Bitmine Immersion as investment funds, which would disqualify them from the index. The speaker calls this a major potential headwind for those names.
STRATEGY Bitmine Immersion MED
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This CNBC video, published January 05, 2026, features Mackenzie Sigalos discussing BTC, Spot Bitcoin ETFs, STRATEGY, Bitmine Immersion. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Mackenzie Sigalos  · Tickers: BTC, Spot Bitcoin ETFs, STRATEGY, Bitmine Immersion