Bitcoin briefly crosses $97,000 on favourable US inflation data, regulatory optimism and ETF inflows

Bitcoin was trading above $95,903 at around 9.20 am on January 15, up 0.38 percent from the previous day. The world’s largest cryptocurrency dipped to a low of $95,797 and a high of $97,735 in the morning session.

“Bitcoin hit fresh eight-week highs despite elevated US producer price inflation for November. Markets largely brushed off concerns that higher inflation could lead to tighter Federal Reserve policy, which would normally weigh on crypto and other risk assets. The rally was fuelled by a combination of favourable US inflation data, positive regulatory developments surrounding a crypto bill and positive net inflows in the spot ETFs. As a result, the global cryptocurrency market capitalisation now stands near  $3.25 trillion, reflecting renewed investor optimism,” said Piyush Walke, derivatives research analyst, Delta Exchange.

According to CoinSwitch Markets Desk, with limited resistance ahead and strong liquidity clustered near $100K, momentum favours further upside. The $95K is key support level, while a sustained break above $100K could turn psychological resistance into a springboard, accelerating price discovery and upside momentum.

Other crypto tokens were volatile. ETH was down 1.62 percent, ADA 5.60 percent, XRP 4.08 percent and SOL 1.75 percent. Tether gained 0.03 percent in the past 24 hours.

“Dash continues to soar, leading the top gainers with over a 37 percent rise, followed by Internet Computer with a 26.05 percent jump. Besides, Story plunges heavily by over 25 percent, followed by Pepe by 9.17 percent and Canton by 8.11 percent,” CoinDCX Research Team said.

Check out the cryptocurrency prices on January 15 at 9:20 am (IST).

Why is Bitcoin up? 

According to Avinash Shekhar, co-founder and CEO of Pi42, there’s a renewed conviction in digital assets as bitcoin pushes above the $97,000-plus range and broad market participation returns. Bitcoin’s strength reflects growing demand as a non-sovereign store of value and improved macro conditions that are driving renewed capital flows into crypto assets.

“For investors today, a balanced approach makes sense: maintain core exposure to Bitcoin for its structural role in portfolios while scaling selective positions in Ethereum and strategic altcoins like XRP that are demonstrating relative strength and adoption. Staying aligned with on-chain signals and regulatory clarity will position investors to capitalise on this phase of market expansion,” said Shekhar.

What’s happening in the crypto market?

Here’s a rundown of the crypto market, according to WazirX founder Nischal Shetty:

• Dollar weakness and regulatory clarity supported bitcoin move higher over the past 24 hours, while rising oil prices and FX volatility kept broader risk appetite in check.
• China reported a record trade surplus, underscoring the persistence of global trade imbalances despite tariffs and geopolitical pressure. While this highlights China’s export strength, it also reinforces concerns around trade tensions, weaker global demand, and uneven growth, all of which tend to reduce risk appetite across markets.
• In the UK, easing inflation expectations have strengthened the case for potential interest rate cuts, adding to a broader global narrative of slowing economies and policy recalibration. While rate-cut optimism can support risk assets over time, in the near term, it reflects underlying economic softness rather than strength.
• Against this backdrop, crypto markets are seeing measured pullbacks rather than panic selling. Bitcoin is trading near $96,300 (-0.6%), while Ethereum is around $3,315 (-1.1%). Bitcoin continues to outperform Ethereum, suggesting that investors are favouring liquidity and perceived safety within the crypto space as macroeconomic uncertainty rises.
• As long as the bitcoin stays above key price levels and leverage remains under control, the market is more likely to consolidate than see a sharp downside.