Bitcoin’s price surged above $96,000 this afternoon. It broke through a major resistance level and showed a new wave of bullishness after weeks of range-bound, choppy trading.
As of the date this article was written, bitcoin price is trading According to data from the market, around $96,000 is up by approximately 4.4% within 24 hours.
Breakout marks an obvious move past the upper limit of January’s consolidation range. Bitcoin’s price has risen to its highest level in a week, and is approximately 5% over its lowest point of the last seven days near $91,700. Buyers have taken control of the short-term structure, allowing it to rise.
The US Senate Agriculture Committee, however, has decided to delay its major markup on the Digital Asset Market Structure CLARITY Act till late January. Senate Banking Committee Markup still scheduled For January 15,
John Boozman, Chairman of the Senate Agriculture Committee, announced an accelerated timeline to advance crypto market structure legislation. The legislative text is scheduled for release on Wednesday 21st at close of business, and committee marking up will take place Tuesday 27th, 3pm.
Boozman said This schedule was designed to provide regulatory clarity and transparency for the crypto market, while also supporting U.S. consumer protection.
The delay signals that Senate leaders may lack the votes to advance the bill amid disagreements over stablecoin rewards, DeFi oversight, and SEC–CFTC authority.
While the House passed its version The bill will not be able to move forward until mid-2025 unless it is approved by both Senate Committees.
Bitcoin’s trading volume is increasing along with the rise in price. The 24-hour volume has risen to approximately $55 billion. This reflects renewed interest as prices have accelerated.
Bitcoin has grown to a total capitalization of approximately 1,92 trillion dollars, confirming its dominance in the market for digital assets. The current supply of BTC is just below 19.98 million, bringing it closer to 21 million coins set by the protocol.
Strategy ($MSTR) stock soars
Investors continue to value the shares of Strategy (MSTR), which jumped today to $177.00 USD, up +2 in after-hours trade. company’s high-risk, bitcoin-linked strategy.
Strategy reported that it had added 13627 Bitcoins worth $1.25 Billion, increasing its total bitcoin holdings from 687,410 BTC to the 12th of January.
Purchases were made from January 5 to January 11, and the funds came through a company program called “at-the-market offerings” which involved sales of MSTR (Class A Common Stock) and Stretch (STRC), whose Series A perpetual preference stock is 10.00%.
The Bitcoin Price Outlook
Bitcoin’s recent surge comes after several failed breakout attempts during the last few months.
Analysts warned that the price movement remained between $85,000 to $94,000 for most of last month. bulls needed a decisive move higher To regain control. It appears that this move is now underway.
The next resistance zone will be between $98,000 to $104,000. These levels previously stopped the upward momentum. If current levels are not maintained, the price could move back to former resistance, which is now a potential support.
Investors continue to invest, and the breakout is imminent weigh inflation trendsInterest-rate expectations and the escalating uncertainty in U.S. policy have all contributed to the deterioration of interest rates.
The Department of Justice is a political department. has opened a criminal investigation into Federal Reserve Chair Jerome Powell. The investigation is intensifying a months‑long feud between the White House and the U.S. central bank
The following is a list of PowellDOJ served The Federal Reserve issued grand jury subpoenas to him and threatened an indictment for his testimony on June 20, 2025 about the renovation of Fed offices worth $2.5 billion.
Bitcoin’s price is increasingly responding to macro narratives in the last few months. Participants see it as a way of protecting themselves against long-term depreciation and policy instability.
Bitcoin is currently trading at around $96,000.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: bitcoinmagazine.com
