The cryptocurrency was trading at $95,266 level on Wednesday (January 14).
Bitcoin and Ethereum were up by over 4.42% and 7.23%, respectively, in the last 24 hours. Among the major altcoins, XRP, BNB, Solana, Tron, Dogecoin, Cardano, and Hyperliquid went up by over 9%.Also Read | Gold and silver-backed multi-asset funds see 40% jump in December inflows. Is risk aversion rising?
Akshat Siddhant, Lead Quant Analyst, Mudrex, said rising geopolitical tensions in the Middle East have also pushed investors toward alternative safe havens like crypto, supporting the broader market rally, and on-chain data adds to the positive setup, with short-term holders moving back into profit. Historically, this has been a sign that selling pressure eases, extending upside potential.
“The cryptocurrency market continued its upward move, Bitcoin rose over 4% to trade near $95,000, reclaiming multi-week resistance as spot buying and higher open interest supported prices, and Ethereum gained more than 7% above $3,300, driven by solid network activity and trading volumes,” said Riya Sehgal, Research Analyst, Delta Exchange.
The global cryptocurrency market capitalisation rose 4.58% to $3.25 trillion, according to CoinMarketCap.
Sehgal added further that market data showed improving liquidity and reduced caution following the October sell-off, and total crypto market capitalisation reached $3.33 trillion, the highest this year, signalling rotation into risk assets.
In the past week, Bitcoin and Ethereum went up by 2.85% and 2.55%, respectively. In the same time period, BNB, Solana, Tron, Dogecoin, and Cardano were up by over 4%, whereas XRP and Hyperliquid were down by 4.19% and 5.41%, respectively, in the same period.
According to the CoinDCX Research, despite the rally, market sentiment remains neutral, indicating that traders are still cautious about the surge. Nearly $600 million worth of short positions were liquidated over the past 24 hours following the move.
Also Read | Mutual funds increased cash allocation by over Rs 5,900 crore to Rs 2.07 lakh crore in December
Market perspective
CoinSwitch Markets Desk
BTC climbed back after the U.S. CPI data showed inflation remains stable at ~2.7% YoY, easing fears of further Federal Reserve rate hikes. As long as BTC holds above $96K, the path remains open toward $100K and higher, while trading below $95K would signal short-term cooling
Vikram Subburaj, CEO, Giottus
The move suggests buyers are defending higher levels even as macro uncertainty persists. On-chain data also point to a cooling of aggressive profit-taking. Realised profits have moderated sharply from late-2025 peaks. Momentum indicators have reverted toward neutral territory and this is consistent with consolidation above prior breakout levels rather than distribution.
Nischal Shetty, Founder, WazirX
Recent developments around the Digital Asset Market Clarity Act have played a meaningful role in Bitcoin’s move toward the $95k mark over the past day.
On the macro side, rising oil prices driven by Middle East tensions and a weaker Japanese yen are adding volatility. India continues to stand out with strong growth prospects, high crypto adoption, and clearer compliance guidelines via the current FIU framework, which strengthens trust in the ecosystem.
