New York, Jan 12, 2026, 12:45 EST — Regular session
Bitcoin edged up Monday, along with a group of bitcoin-related stocks, as traders balanced a new Strategy buying surge against broader jitters over the Federal Reserve.
The token climbed roughly 0.3% to $91,147. Coinbase (COIN) jumped 2.0%, and Strategy (MSTR) ticked up 2.1%. Miners Marathon Digital (MARA) surged 4.4%, with Riot Platforms (RIOT) edging up 1.3%.
The scene changed late Sunday when Fed Chair Jerome Powell revealed the Justice Department had handed the central bank grand jury subpoenas and was threatening a criminal indictment. “On Friday, the Department of Justice served the Federal Reserve with grand jury subpoenas,” Powell confirmed. (Reuters)
Bitcoin’s back to behaving like a high-beta macro play—reacting sharply to interest rates, the dollar, and shifts in risk appetite. This week’s packed with key data and policy events. Tuesday brings the U.S. consumer price index report for December, followed by the Fed’s January 27-28 meeting. (Bureau of Labor Statistics)
According to an SEC filing, the strategy acquired 13,627 bitcoin from Jan. 5 to Jan. 11, spending roughly $1.25 billion and averaging $91,519 per coin including fees. The purchases were financed via an at-the-market program, selling new shares gradually. As of Jan. 11, it held 687,410 bitcoin. (SEC)
This kind of buying can prop up bitcoin at the edges, but it also locks volatility into the stock. The shares tend to swing beyond the token’s moves, both on the upside and the downside.
After Powell’s remarks, the dollar took a hit. Marc Chandler, chief market strategist at Bannockburn Global Forex in New York, remarked: “This just ended the dollar’s New Year bounce.” (Reuters)
Gold surged past $4,600 an ounce, hitting a new record as investors sought safety across multiple fronts. “Elevated uncertainty plays directly into the gold market,” said Michael Haigh, global head of commodities research at Societe Generale. (Reuters)
Rate chatter is heating up. J.P. Morgan now forecasts the Fed’s next rate hike in 2027, while Barclays and Goldman Sachs pushed their expected 2026 cuts further into the year, Reuters reported. Traders see a 95% chance the Fed holds rates steady at the January meeting, per CME’s FedWatch tool. (Reuters)
Crypto isn’t off the hook. If the CPI print comes in hotter than expected, Treasury yields and the dollar could climb again. That combo usually puts pressure on bitcoin and miners, who depend on steady financing and a stable coin price.
Bitcoin remains far from its early-October peak near $126,223, leaving a shadow over crypto-equity valuations once spot prices lose momentum. (Reuters)
Tuesday’s CPI report is the next key checkpoint for traders, ahead of the Fed’s Jan. 27-28 meeting and the policy announcement on Jan. 28. Any new developments regarding Powell’s position could either extend the “haven” trade or cause it to unravel quickly. (FRED)
