Bitcoin surged to $95,000, while the U.S. Clarity Act discussions are delayed. Former Mayor Eric Adams faces scrutiny over a token launch.
Bitcoin has made a significant rebound, reaching $95,000, while the U.S. Senate has postponed discussions on the Clarity Act. Additionally, former New York Mayor Eric Adams has been implicated in a controversial token launch, and Belarus has enacted new legislation concerning crypto banks.
Bitcoin's Surge
Last week proved to be a strong one for Bitcoin and the broader cryptocurrency market. The rally commenced on Monday, with Bitcoin rebounding from $90,000 and subsequently crossing the $95,000 threshold for the first time since November 2025. The price peaked near $98,000 mid-week before settling back to $95,000, marking a 5% increase over the week.
Analysts at QCP Capital highlighted that this breakout was significant, as Bitcoin had previously lagged behind gold and equities. They attribute the current price levels to various macroeconomic factors, including geopolitical tensions and U.S. tariff policies, suggesting that investors may be turning to digital assets amid fiat currency depreciation.
Ethereum also saw gains, surpassing $3,300 with an increase of 7% for the week, while most top cryptocurrencies experienced upward movement. The cryptocurrency fear and greed index rose sharply from 29 to 50, indicating a shift toward "greed" for the first time since October. Additionally, Bitcoin-based ETFs attracted $1.42 billion, contributing to a total crypto market cap of $3.3 trillion, with Bitcoin holding a 57.4% dominance.
Clarity Act Delayed
On January 15, the U.S. Senate Banking Committee decided to delay the consideration of the Clarity Act, which aims to define the regulatory framework for cryptocurrencies. Officials indicated that further consultations with industry stakeholders are necessary. Coinbase's CEO, Brian Armstrong, criticized the bill for having too many issues, including restrictions on tokenized stocks and stablecoin rewards, leading to the company's withdrawal of support.
"I found it extremely unfair that one industry [banks] came in and got the opportunity to take control of regulators, banning competition," Armstrong stated in a FOX News interview.
Reports suggested that this withdrawal caused unrest within the Trump administration, with threats to withdraw support for the Act unless Coinbase resumed negotiations. Armstrong later refuted these claims, emphasizing constructive dialogue with the White House.
NYC Token Controversy
On January 12, Eric Adams announced the launch of the NYC Token during a conference in Times Square. Marketed as a means to combat anti-Americanism, the token's value quickly plummeted after launch, raising suspicions of manipulation. Analysts reported that a wallet linked to Adams profited significantly from the token's liquidity pool, leading to comparisons with the controversial LIBRA token launch.
"To be absolutely clear: Eric Adams did not move investors' funds. He also did not profit from the release of NYC Token," a statement from his representatives asserted.
Belarusian Crypto Banking Legislation
On January 16, Belarusian President Alexander Lukashenko signed a law recognizing crypto banks as joint-stock companies within the High-Tech Park, allowing them to operate with digital tokens alongside traditional banking services. This legislation aims to foster innovation in financial products while ensuring compliance with existing regulations.
Ethereum User Growth
On January 15, Ethereum recorded over 1 million daily active addresses, more than double the figures from the previous year. The network also experienced a record 2.8 million daily transactions, attributed to lower transaction fees and increased stablecoin usage. The amount of ETH staked reached 35.8 million, representing 29.57% of the total supply, as major players and ETF issuers contributed to this growth.
