Powell Under DOJ Pressure
BTC is still rangebound near $90K, briefly touching $92K in Asia before slipping back to about $90.7K, as markets weigh tariff uncertainty, a mixed December jobs report and tomorrow’s CPI.
📉 BTC is still stuck in its $89K–$92K range (currently ~$90.7K) despite a softer-than-expected December payrolls print, heavy weekly outflows from BTC (~$681M) and ETH (~$750M) ETFs, and US equities closing at fresh record highs. Markets now largely expect no move at the late-January Fed meeting but still see room for two cuts over 2026, with this week’s CPI print the next key macro catalyst.
🌍 In the background, the White House has tightened control over Venezuelan oil revenues and is signalling “very strong options” on Iran just as the Justice Department’s subpoenas put direct political pressure on the Fed, knocking the dollar and lifting gold to new highs. Regulators are still reshaping the crypto perimeter: Dubai’s DFSA has banned privacy coins and narrowed stablecoin rules in the DIFC, while South Korea is preparing to reopen corporate crypto trading under strict caps and token lists.
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After a weekend of rangebound trading at $90K, on Monday morning in Asia BTC briefly rose to $92K before falling back within range. It currently changes hands at $90.7K.
The current sideways trading in BTC has occurred despite the past week seeing notable macro developments.
First, last Friday, the US Supreme Court ended up not delivering what was a highly anticipated decision on the legality of President Trump’s reciprocal tariffs — which were imposed under the International Emergency Economic Powers Act. The Court said that Wednesday 14 Jan, 2026 would be the next opinion day on which a ruling may be announced.