"The Bitcoin price surged through the $96,000 level this afternoon, pushing decisively above a key resistance zone and signaling a renewed wave of bullish momentum after weeks of choppy, range-bound trading. At the time of writing, the bitcoin price is trading around $96,000 up roughly 4.4% over the past 24 hours, according to market data. The breakout marks a clear move beyond the upper boundary of January's consolidation range."
"All this is happening as the US Senate Agriculture Committee has delayed its key markup of the Digital Asset Market Structure CLARITY Act until late January. The Senate's Banking Committee markup is still scheduled for January 15. Senate Agriculture Committee Chairman John Boozman announced a timeline for advancing crypto market structure legislation, with legislative text set for release by the close of business on Wednesday, January 21, and a committee markup scheduled for Tuesday, January 27, at 3 p.m."
Bitcoin surged through $96,000, rising about 4.4% in 24 hours and moving roughly 5% above its seven-day low near $91,700. The breakout cleared the upper boundary of January's consolidation range and placed price near weekly highs as buyers regained short-term market control. Twenty-four-hour trading volume climbed to roughly $55 billion, and total market capitalization rose to approximately $1.92 trillion. The US Senate Agriculture Committee delayed markup of the Digital Asset Market Structure CLARITY Act until late January, with legislative text due January 21 and a committee markup scheduled for January 27. The delay reflects vote uncertainty over stablecoin rewards, DeFi oversight, and SEC-CFTC authority, and the bill cannot advance without approval from both Senate committees despite House passage in mid-2025. Circulating supply currently stands at just under 19.98 million BTC.
Read at Bitcoin Magazine
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