Bitcoin climbs even as Senate calls off hearing on crypto bill: Crypto Daybook Americas

Market Overview: Bitcoin Surges Past $97,000

By Francisco Rodrigues (All times ET unless stated otherwise)

Bitcoin (BTC) advanced nearly 2% over the past day, surpassing the $97,000 mark as investor confidence strengthened and the cryptocurrency overcame a resistance level that had persisted for two months.

According to QCP Capital analysts, “Bitcoin had been trailing behind the rallies in equities and precious metals, but has now broken through the $95,000 ceiling that limited gains since November.” They added that with the U.S. dollar potentially facing further devaluation—a factor boosting precious metals—Bitcoin’s comparative value may encourage a shift toward digital assets.

The wider crypto market also experienced gains. The CoinDesk 20 (CD20) index rose by 1% during the same period. This renewed appetite for risk is evident in the spot ETF sector, with U.S. bitcoin funds attracting $843 million in net inflows yesterday, while ETH ETFs saw $175 million added.

These advances come despite ongoing geopolitical uncertainty. Former President Donald Trump has advocated for U.S. control over Greenland, a Danish territory, calling it “essential” for national security, which has heightened tensions with NATO allies.

Markets appear to be discounting the possibility of a NATO breakdown, and oil prices suggest geopolitical risks are receding. WTI crude futures dropped over 4.4% to $59 after Trump declared that “the killing has stopped” in reference to Iranian protests, reducing the likelihood of U.S. military intervention.

However, regulatory hurdles in the U.S. continue to pose challenges. The Senate Banking Committee has postponed its review of the crypto market structure bill, and Coinbase has withdrawn its support as Wall Street continues to oppose crypto yield products.

This delay caused a short-term dip in crypto prices, but the overall upward trend remains intact. Ether lagged behind Bitcoin, gaining 1.5%, while privacy coins outperformed: Zcash (ZEC) rose 5.1% and Dash (DASH) climbed 2.4%.

Looking forward, upcoming Supreme Court rulings on tariffs or further geopolitical developments could prompt a shift toward risk aversion. For now, however, market sentiment has swung to “greed” for the first time since October’s selloff.

For a detailed breakdown of today’s altcoin and derivatives activity, see Crypto Markets Today

Key Events to Monitor

For a full schedule of this week’s events, check out CoinDesk’s Crypto Week Ahead.

• Crypto
  • Jan. 15 (estimated): Ravencoin (RVN) undergoes its second block reward halving at block 4,200,000, reducing rewards to 1,250 RVN per block.
  • Jan. 15: U.S. Senate Banking Committee markup on the Digital Asset Market Clarity Act.
• Macro
  • Jan. 15, 8:30 a.m.: U.S. Jobless Claims. Initial claims for the week ending Jan. 10 (previous: 208K); continuing claims for the week ending Jan. 3 (previous: 1,914K).
• Earnings (Estimates based on FactSet data)
  • No earnings reports scheduled.

Token-Related Developments

For more details on this week’s token events, see CoinDesk’s Crypto Week Ahead.

• Governance Votes & Calls
  • CoW DAO is holding a vote to renew its grants program for 2026, allocating 500,000 xDAI and remaining COW reserves. Voting concludes Jan. 15.
• Token Unlocks
  • Jan. 15: Connex (CONX) will release 1.59% of its circulating supply, valued at $21.16 million.
  • Jan. 15: Starknet (STRK) will unlock 4.83% of its circulating supply, worth $10.6 million.
• Token Launches
  • Jan. 15: KUBChain will conduct its first KUB token burn.
  • Jan. 15: HTX DAO will carry out its scheduled token burn.
  • Jan. 15: The migration period for Mantra’s OM token to MANTRA Chain ends.

Upcoming Conferences

For a comprehensive list of events, refer to CoinDesk’s Crypto Week Ahead.

• Day 2 of 2: Web 3.0 Expo Dubai Edition (UAE)

Market Performance Snapshot

• BTC: $96,711.33, down 0.55% since 4 p.m. ET Wednesday (24hr change: +1.98%)
• ETH: $3,356.79, down 1.23% (24hr change: +1.92%)
• CoinDesk 20: 3,048.78, down 0.97% (24hr change: +1.04%)
• Ether CESR Composite Staking Rate: 2.85%, up 6 bps
• BTC funding rate on Binance: -0.0003% (-0.1237% annualized)

CoinDesk 20 members’ performance

• DXY: 99.14, unchanged
• Gold futures: $4,622.20, down 0.29%
• Silver futures: $90.91, down 0.52%
• Nikkei 225: 54,110.50, down 0.42% at close
• Hang Seng: 26,923.62, down 0.28% at close
• FTSE: 10,240.60, up 0.55%
• Euro Stoxx 50: 6,034.83, up 0.50%
• DJIA: 49,149.63, little changed at Wednesday’s close
• S&P 500: 6,926.60, down 0.53% at close
• Nasdaq Composite: 23,471.75, down 1.00% at close
• S&P/TSX Composite: 32,916.47, up 0.14% at close
• S&P 40 Latin America: 3,326.32, up 1.17%
• U.S. 10-Year Treasury rate: 4.14%, up NA bps
• E-mini S&P 500 futures: 6,990.50, up 0.35%
• E-mini Nasdaq-100 futures: 25,820.00, up 0.74%
• E-mini Dow Jones Industrial Average Index futures: 49,412.00, up 0.11%

Bitcoin Metrics

• BTC Market Share: 59.7% (up 0.17%)
• ETH/BTC Ratio: 0.03471 (up 0.29%)
• Hashrate (7-day average): 999 EH/s
• Hashprice (spot): $41.83
• Total transaction fees: 3.07 BTC / $294,966
• CME Futures Open Interest: 123,715 BTC
• BTC value in gold: 21 ounces
• BTC to gold market cap ratio: 6.49%

Technical Outlook

TA for Jan 15, 2026

• The BTC/USD weekly chart displays a strong continuation pattern, supported by bullish divergence, indicating the broader uptrend is intact.
• With Bitcoin breaking above $90,000, attention now turns to whether it can close the week above the 50-week exponential moving average (orange line), which would confirm the bull market’s return.
• If momentum holds above this threshold, the next significant target is the $100,000 resistance, aligned with a major Fibonacci level.

Crypto-Related Equities

• Coinbase Global (COIN): Closed at $255.86 (+1.25%), pre-market at $253.61 (-0.88%)
• Circle Internet Group (CRCL): Closed at $84.80 (+1.61%), $84.23 (-0.68%)
• Galaxy Digital (GLXY): Closed at $28.19 (+5.11%), $28.24 (+0.18%)
• Bullish (BLSH): Closed at $39.66 (+2.53%), $39.50 (-0.40%)
• MARA Holdings (MARA): Closed at $11.11 (+1.46%), unchanged pre-market
• Riot Platforms (RIOT): Closed at $17.31 (+3.34%), $17.39 (+0.46%)
• Core Scientific (CORZ): Closed at $17.92 (-0.61%), $18.05 (+0.73%)
• CleanSpark (CLSK): Closed at $13.34 (+6.29%), $13.38 (+0.30%)
• CoinShares Bitcoin Mining ETF (WGMI): Closed at $48.94 (+0.14%), unchanged pre-market
• Exodus Movement (EXOD): Closed at $18.40 (+1.66%)

Crypto Treasury Companies

• Strategy (MSTR): Closed at $179.33 (+3.66%), $181.70 (+1.32%)
• Semler Scientific (SMLR): Closed at $21.37 (+5.06%)
• SharpLink Gaming (SBET): Closed at $10.88 (+3.23%), $10.91 (+0.28%)
• Upexi (UPXI): Closed at $2.46 (+6.49%)
• Lite Strategy (LITS): Closed at $1.55 (+4.03%)

ETF Fund Flows

Spot Bitcoin ETFs

• Net inflows for the day: $840.6 million
• Total net inflows: $58.1 billion
• Aggregate BTC holdings: approximately 1.3 million

Spot Ethereum ETFs

• Net inflows for the day: $175.1 million
• Total net inflows: $12.76 billion
• Aggregate ETH holdings: approximately 6.11 million

Source: Farside Investors

Overnight Highlights

• Trump confirms no intention to dismiss Fed Chair Powell despite investigation (Reuters): President Trump stated he does not plan to remove Fed Chair Powell, despite an ongoing Department of Justice investigation, which has eased concerns about the central bank’s independence as markets monitor the Fed’s influence on inflation and economic stability.
• NCAA calls for suspension of college sports prediction markets (CoinDesk): The NCAA has requested the CFTC to pause college sports betting markets until stronger safeguards are in place, citing potential risks to student-athletes, consumers, and fair competition.
• Bitcoin’s bullish outlook strengthens as U.S. bond volatility hits multi-year lows (CoinDesk): Bitcoin’s 10% rally in January has analysts forecasting a potential breakthrough above $100,000, supported by the lowest U.S. Treasury bond volatility since 2021.
• Oil prices fall as Trump eases Iran tensions (The Wall Street Journal): U.S. equities climbed on Monday, with the S&P 500 reaching a new high, buoyed by strong bank earnings and cooling inflation, as President Trump’s efforts to reduce tensions with Iran helped calm broader market concerns.