New York, Jan 12, 2026, 10:30 EST — Regular session
- Bitcoin edged up roughly 0.4% to around $91,164, while crypto-linked U.S. stocks showed a mixed picture in early trading.
- Strategy revealed it purchased 13,627 bitcoin, spending roughly $1.25 billion, pushing its total holdings to 687,410
- Traders are keyed in on Tuesday’s U.S. CPI report and the ripple effects from the DOJ’s subpoenas of Fed Chair Powell
Bitcoin held close to $91,000 on Monday, while U.S.-listed crypto stocks showed mixed moves following Strategy’s announcement of a new $1.25 billion bitcoin acquisition.
This muted shift is significant as investors juggle two factors: institutional demand for bitcoin from large buyers and ETFs, alongside a swift shock to U.S. markets linked to doubts about Federal Reserve independence. Tuesday’s U.S. inflation report now stands as the key pivot for rates, the dollar, and risk appetite.
Bitcoin climbed 0.35% to $91,164, bouncing between $90,097 and $92,369 earlier. Coinbase shares gained 0.6%, Strategy held steady, Marathon Digital remained flat, and Riot Platforms dropped roughly 2%.
Strategy disclosed it purchased 13,627 bitcoin for $1.247 billion from Jan. 5 to Jan. 11, paying an average of $91,519 per coin. As of Jan. 11, it held a total of 687,410 bitcoin. According to a filing, these acquisitions were financed through proceeds from stock sales under an at-the-market program, which allows gradual share sales into the market. (SEC)
Macro noise rattled crypto markets as the dollar dipped following a Justice Department threat to indict Fed Chair Jerome Powell, Reuters reported. Bannockburn Global Forex strategist Marc Chandler weighed in: “This just ended the dollar’s New Year bounce.” (Reuters)
In a statement released late Sunday, Powell described the threat of criminal charges as “a consequence” of the Fed adjusting rates “based on our best assessment” rather than political pressures. Traders noted the episode helped boost demand for hard assets that day. (Federal Reserve)
ETF flows continue to weigh on the market. According to data from BitcoinTreasuries/Bitbo, U.S. spot bitcoin ETFs—those holding bitcoin outright—saw net outflows in the last three reported sessions through Friday. Notably, there was a $253.5 million withdrawal on Jan. 9. (Bitbo)
Bitcoin remains far from its October peak near $126,000, keeping the market on edge over changes in rates and liquidity. (Reuters)
The divergence in crypto-linked stocks highlights how traders approach these names differently. Coinbase usually follows volume and trading mood, whereas miners and bitcoin holders behave more like leveraged bets on the token, showing bigger moves when prices fall.
The setup works both ways. A hotter-than-expected CPI might push bond yields and the dollar higher, putting pressure on bitcoin and stocks closely linked to it; further ETF outflows would only deepen those losses. Then there’s the Powell investigation—a distinct tail risk—with headlines that could shake up correlations across asset classes.
Tuesday’s U.S. Consumer Price Index data for December drops at 8:30 a.m. ET. Traders will be watching closely to adjust rate forecasts. (Bureau of Labor Statistics)
