- Bitcoin climbed above $97,000 driven by renewed risk appetite
- Gains were also supported by large inflows into Bitcoin ETFs
- Risks include potential geopolitical escalation
Bitcoin has resumed its upward trajectory after a slow start to 2026, with the latest surge pushing BTC to a high of $97,360 as global markets embraced renewed risk sentiment.
The sharp advance over the past 24 hours has sparked optimism about a possible break above the key psychological $100,000 level.
As the broader crypto market rides this rising momentum, analysts point to a rotation back into digital assets, driven by fiat currency depreciation concerns and supportive institutional flows.
Investors remain mindful of the macroeconomic backdrop: recent US data showed the Producer Price Index (PPI) rose 3% in November — the highest since July — which could create mixed signals for price action. Still, analysts say a confirmed break above $100,000 would be a pivotal moment for Bitcoin.
Bitcoin jumps to $97,000
Equities climbed after US consumer price data was released on Tuesday, and Bitcoin capitalized on the risk-on sentiment, jumping from about $93,000 to a high of $97,360.
While Wall Street slipped in places due to losses in bank and technology stocks, BTC posted a modest rise.
More than a 4% gain in Bitcoin signaled a strong risk-on outlook that also lifted major altcoins including Ethereum, XRP and Solana.
Technical charts show Bitcoin encountering likely resistance in the $97,000–$97,500 zone.
Nevertheless, these gains mark a marked recovery from January levels in the low $90,000s.
This move takes BTC above the $95,000 resistance level — a barrier that had constrained momentum since November 2025, analysts at QCP Group noted on X.
1/ QCP Asia Colour, 14 January 2026
We’re goin’ up, up, up, it’s our moment
Goldilocks still holds: US jobs look steady and inflation remains stable. Risk is back across the board, from equities and precious metals to the dollar and crypto.
— QCP (@QCPgroup) January 14, 2026
QCP highlights the potential for continued strength, suggesting Bitcoin could attract investor rotation away from traditional safe havens.
Recent US CPI data, which stayed relatively stable and aligned with mild inflation expectations, helped bolster a favorable environment for risk assets.
Eyeing $100,000 amid ETF inflows
Despite notable headwinds, the market structure points to further upside potential, with technical indicators showing bullish momentum and volumes supporting the rally.
Recent gains were backed by significant inflows into US spot Bitcoin ETFs.
As Bloomberg ETF analyst Eric Balchunas noted, funds recorded over $760 million in flows in a single day.
Bitcoin ETFs had Big Day with $760m in flows. They needed it, started year real strong, dipped and now made it up, YTD above water. Check out the YTD flows every one is seeing action (this was like when 10 kids on my 8th grade bball team scored in game the other night, you love… pic.twitter.com/xeHw6EfBrS
— Eric Balchunas (@EricBalchunas) January 14, 2026
The renewed demand follows large redemptions and repositioning at the end of 2025 and early 2026.
The current trend paints a different picture, signaling growing institutional conviction as BTC approaches the $100,000 threshold.
Risks remain, including potential geopolitical escalations and shifting macroeconomic data, which could quickly alter market sentiment. Traders and investors will be watching price action around the $97,000–$100,000 area closely, as a decisive break or rejection there is likely to set the tone for the next leg of the cycle.