NEW YORK, Jan 14, 2026, 14:09 (EST)
- Bitcoin climbed roughly 3.6% to near $96,876, while ether gained around 4.8% and XRP edged up about 1.4%
- Ahead of the Senate Banking Committee debate on Jan. 15, U.S. senators introduced a draft bill targeting crypto market structure
- The December CPI report, indicating moderate core inflation, bolstered bets that the Fed will pause rate hikes this month, though rate cuts remain on the table for 2026
Bitcoin climbed Wednesday, reclaiming the $96,000 mark as ether and XRP also saw gains among leading tokens.
The move mattered because U.S. inflation data kept the Federal Reserve on a familiar path: no rush, but not done. The Consumer Price Index climbed 0.3% in December and was up 2.7% year-over-year. Core inflation — excluding food and energy — rose 0.2% for the month and 2.6% annually, driven largely by rents and food. “Families may not closely track core inflation, but they see grocery prices,” said Sung Won Sohn, a finance and economics professor at Loyola Marymount University. 1
Washington propelled another boost. Late Monday, U.S. senators rolled out draft legislation aiming to clarify when crypto tokens qualify as securities, commodities, or fall into other categories. The bill would also grant the Commodity Futures Trading Commission authority over spot crypto markets — where tokens are traded for immediate delivery. It targets stablecoin payouts too, banning interest just for holding stablecoins but allowing rewards linked to actions like payments or loyalty schemes. “What is threatening progress is … the relentless pressure campaign by the Big Banks,” said Summer Mersinger, CEO of the Blockchain Association. Cody Carbone, CEO of The Digital Chamber, called it “encouraging” to see the process advance. 2
Richmond Fed President Tom Barkin described December’s inflation figures as “encouraging” but cautioned that price increases tend to accelerate at the start of the year. Speaking to the CFA Society in Washington, he called the situation “a delicate balance” and noted that policymakers still have time since rate adjustments take a while to influence the economy. 3
The battle over stablecoin rewards has turned into a proxy fight: banks warn that boosting yields on dollar-pegged tokens might drain deposits from insured accounts, while crypto companies contend that banning such rewards shields established players and stifles innovation.
Senate Banking Committee Republicans are calling their market-structure proposal the “Digital Asset Market CLARITY Act.” They argue it would clearly define the boundaries between SEC and CFTC jurisdiction and swap out what they describe as “regulation-by-enforcement” for a formal statutory framework. 4
The House passed its version of the CLARITY Act — H.R.3633 — on July 17, 2025. It has since been sent to the Senate, per Congress.gov, highlighting the industry’s lengthy wait for a clear regulatory framework. 5
There’s plenty of room for this to get messy. The Senate draft remains open to amendments, and with the election year looming, any complex moves could stall. On the market front, a surprise inflation spike or a sharper risk-off swing in stocks could easily drag crypto back into its familiar pattern of swift reversals.
