What’s Fueling the Rise in Cryptocurrency Prices? – January 12, 2026

As of January 12, 2026, the cryptocurrency market has seen a modest increase in capitalization despite many top coins experiencing price declines. Factors influencing this uptick include recent trading volumes and geopolitical tensions, especially in relation to the U.S. regulatory landscape.

Key Takeaways

The cryptocurrency market capitalization increased by 0.6%, reaching $3.2 trillion.
Bitcoin (BTC) holds steady at $91,271, while Ethereum (ETH) trades at $3,128.
Several top coins have experienced both gains and losses over the last 24 hours.
Geopolitical tensions, particularly involving U.S. Federal Reserve leadership, are impacting market sentiment.
The crypto market sentiment remains cautious, with a focus on upcoming macroeconomic signals.

Why Is Crypto Up Today

Current Market Overview

The cryptocurrency landscape has shown a slight uptick today, with the total market capitalization increasing by 0.6% to approximately $3.2 trillion. Despite this, 63 out of the top 100 cryptocurrencies saw declines over the last day, and total trading volume has contracted to $87.2 billion, marking a significant drop compared to recent weeks.

Leading Cryptocurrencies: Performance Today

As the week begins, the performance of leading cryptocurrencies is mixed. Currently, four of the top ten cryptocurrencies by market capitalization have lost value while four have seen gains (not accounting for stablecoins).

Bitcoin (BTC) saw a modest increase of 0.7%, trading at $91,271.
Ethereum (ETH) rose by 1.2%, now priced at $3,128.
The biggest gainer is Solana (SOL), which increased by 3.6% to $141.
Following closely is Lido Staked Ether (STETH), up 1.3% at $3,124.

On the downside, XRP (XRP) experienced a decline of 2.1%, currently trading at $2.05, while Dogecoin (DOGE) fell 2% to $0.1368. Additionally, Binance Coin (BNB) decreased by 1.2% and Tron (TRX) dropped by 0.2%, trading at $902 and $0.2977, respectively.

Notable Market Moves

Within the top 100 cryptocurrencies, Pol (POL) recorded a significant drop of 11.3% to $0.1584, followed by Provenance Blockchain (HASH), down 9.5% to $0.02155. In contrast, three cryptocurrencies reported double-digit gains: Monero (XMR) surged 18.1% to $569, Canton (CC) climbed 10.9% to $0.1459, and MYX Finance (MYX) rose 10.2% to $5.51.

Adding to market dynamics, Coinbase announced it would reconsider its support for major crypto legislation if the U.S. Senate introduces more regulations on stablecoin rewards, heightening tensions as the markup approaches on January 15.

In international news, South Korea may be ending a nine-year ban on corporate crypto investments, introducing new regulations that would allow listed companies and professional investors to engage in crypto trading.

Market Sentiment and Institutional Risks

Petr Kozyakov, Co-Founder and CEO of Mercuryo, noted that BTC initially surged past $92,000 before retreating, reflecting volatility similar to that of major U.S. tech stocks amidst a risk-off sentiment.

Market participants are weighing the rising tensions between U.S. Federal Reserve Chairman Jerome Powell and President Donald Trump, alongside escalating geopolitical risks, prompting a flight to safer assets such as gold and silver. Meanwhile, privacy coins like Monero and Zcash continue to gain traction as interest in such assets grows.

Analysts from Bitunix pointed out ongoing investigations into Powell, indicating that this isn’t just a legal issue but a potential disruption to the perceived independence of the Federal Reserve. This could shake market confidence regarding the U.S. dollar and central bank policies, in turn affecting Bitcoin and other decentralized assets.

Price Levels and Important Events Ahead

At the time of reporting, Bitcoin was priced at $91,271, having mostly traded sideways before dipping to a low of $90,244 and peaking at $92,356. It has seen a 2.1% decrease over the past week, fluctuating between $89,799 and $94,420.

A close above $91,520 may set the stage for a move towards $93,011 and $94,800 for further upside tests. Conversely, failing to maintain above $91,000 might trigger a decline toward $89,241 and $87,921.

BTC Trading View

Ethereum currently trades at $3,128, after a range-bound period that saw it touching a low of $3,091 and a high of $3,163. Over the past week, Ethereum has decreased by 1.5%, fluctuating between $3,068 and $3,292.

If ETH can maintain a close above $3,180, an increase to $3,250 and potentially $3,300 could follow. However, dropping below $3,100 may push it down under $3,000.

Despite slight gains, market sentiment remains tempered, with the crypto fear and greed index registering at 40 today, a slight decline from 41 on Friday, indicating a neutral stance with cautious participants waiting for new economic indicators.

Crypto Sentiment

In a concerning development, Bitcoin ETFs in the U.S. ended the previous week with substantial outflows, totaling $249.99 million on Friday, which reduced overall net inflows to $56.4 billion. Among the nine funds, only Fidelity witnessed positive inflows with $7.87 million, while BlackRock faced losses of $251.97 million.

ETF Flows

Similarly, negative flows were recorded for Ethereum ETFs on January 9, amounting to $93.82 million, resulting in a total net inflow of $12.43 billion. BlackRock and Grayscale saw outflows of $83.78 million and $10.04 million, respectively.

ETH ETF Flows

During the first trading week of the year, nearly $750 million was withdrawn from the two largest crypto-linked ETF categories. The Bitcoin support level at $79,000 corresponds to the average purchase price for the ETFs, which may result in significant sell-offs if crossed.

Quick FAQ

The recent uptick in the cryptocurrency market was observed alongside gains in the U.S. stock markets on January 9, where the S&P 500 rose by 0.65%, the Nasdaq-100 increased by 1.02%, and the Dow Jones Industrial Average added 0.48%, rebounding from previous losses.

While this is not yet a robust rally, analysts label it a minor increase amid market consolidation, suggesting prices may oscillate over the coming days without a definitive directional move.