Bitcoin (BTC) is holding above the $95,000 level after a recent pullback from two-month highs, as U.S. regulatory uncertainty and softer risk sentiment weigh on the broader crypto market.
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The pause follows the U.S. Senate Banking Committee’s decision to delay markup on a proposed crypto market structure bill, a move that has cooled enthusiasm after Bitcoin briefly approached $97,000 earlier this week.
Despite the setback, analysts largely view the price action as consolidation rather than a reversal. Trading volume has declined, open interest has eased, and liquidations have risen, suggesting that some leverage is being cleared from the market.
Bitcoin ETF Flows Remain Supportive
Institutional demand through U.S. spot Bitcoin exchange-traded funds (ETFs) continues to provide a key source of support.
According to Farside Investors, Bitcoin ETFs recorded roughly $100 million in net inflows on January 15, marking four consecutive days of positive flows. BlackRock’s iShares Bitcoin Trust (IBIT) led the day with $315.8 million in inflows, while Fidelity’s FBTC and Grayscale’s GBTC saw outflows.
Since the start of the year, U.S. spot Bitcoin ETFs have attracted nearly $1.5 billion in net inflows. Analysts say this pattern suggests that institutional buyers have absorbed much of the selling pressure that followed Bitcoin’s breakout above $88,000.
Regulatory Delays Add Uncertainty
The delayed Senate vote followed public opposition from Coinbase CEO Brian Armstrong, who criticized parts of the proposed bill related to decentralized finance, tokenized equities, and regulatory oversight. Lawmakers postponed discussion of the bill, leaving questions about the future regulatory framework for digital assets.
The lack of clarity has contributed to short-term caution across crypto markets. Shares of crypto-related companies such as Coinbase and Strategy also fell after the news. Analysts note that while clearer regulation could support long-term adoption, uncertainty in the near term can pressure prices.
Is $100,000 Still in Play?
Technical analysts say Bitcoin has reclaimed the $95,000 zone, with the next major resistance around $97,500, near the 50-week exponential moving average. Some market watchers believe a push toward $100,000 remains possible if Bitcoin can hold above current support levels and ETF inflows continue.
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For now, the market appears to be in a cooling phase rather than a downturn. Whether Bitcoin can regain momentum will likely depend on regulatory developments, institutional flows, and broader risk sentiment in global markets.
Cover image from ChatGPT, BTCUSD chart on Tradingview
