XMR Hits New ATH, BTC Stopped at $98K, Senate Delays Crypto Structure Bill: Your Weekly Recap

It has been another eventful week, as the cryptocurrency markets have reacted to the latest developments on the US front and the controversy its leader continues to stir around the world.

Last weekend was highly dull as bitcoin remained flat at $90,500. Its first revival signs emerged on Sunday evening when the asset tapped $91,000 and even $92,000 on Monday. It was stopped twice there, but the bulls were more persistent and broke above that resistance on Tuesday.

BTC kept climbing in the following days, and the culmination occurred on Wednesday evening when it surged to $98,000. This became its highest price tag in about two months.

After gaining ten grand since its 2026 entry price, BTC was due for a correction. It transpired in the past 24 hours, the most, as it was rejected at $97,000 and driven south to just under $94,500 minutes ago. This happened shortly after US President Trump said Kevin Hassett will likely remain the National Economic Council Director rather than becoming the next Federal Reserve Chair.

Despite this rejection and correction, bitcoin is actually well in the green on a weekly scale. Its price has risen by over 3.5% since this time last Friday, as its market cap is around $1.9 trillion. However, its weekly performance pales in comparison to XRM’s. The privacy coin has skyrocketed by over 50% and trades near its latest all-time high of over $700.

ICP and PUMP are the other double-digit gainers, followed by ETH, BNB, and TRX from the larger caps. In contrast, ZEC, SUI, LTC, and HBAR are deep in the red.

Market Data

Cryptocurrency Market Overview Weekly Jan 16. Source: QuantifyCrypto

Market Cap: $3.280T | 24H Vol: $118B | BTC Dominance: 57.5%

BTC: $94,500 (+3.6%) | ETH: $3,260 (+4.8%) | XRP: $2.03 (-4.2%)

This Week’s Crypto Headlines You Can’t Miss

First Time in 3 Months: Bitcoin Fear and Greed Index Signals Greed. The price pump earlier this week shifted overall market sentiment, as the fear and greed index entered ‘greed’ territory for the first time in three months. As is typically the case following such a sudden change, the market headed in the opposite direction soon after.

2025 Was Brutal for Bitcoin, But Arthur Hayes Sees Liquidity-Driven Rebound Ahead. The rough ending to the previous year will be followed by a more profound rally in 2026, predicted BitMEX’s former CEO, Arthur Hayes. In a new essay, he attributed the late 2025 decline to a declining US dollar credit.

Ethereum Treasury Giant Bitmine Makes $200M Power Move Into MrBeast’s Empire. The largest ETH treasury firm has invested $200 million into Beast Industries, the entertainment company founded by YouTube creator Jimmy Donaldson, who is widely known as MrBeast.

Senate Banking Committee Postpones Crypto Market Structure Bill. Perhaps the most evident behind the latest price correction this week was the postponement of the highly anticipated crypto market structure bill. Senate Banking Committee chairman Tim Scott announced the decision on Thursday.

Ethereum Sets Record With 393,600 New Wallets in One Day. The Ethereum network hit a massive milestone earlier this week as 393,600 new wallets were created in a 24-hour window on January 11. This set a new record in this metric, even though ETH has remained far below its 2025 peak.

Monero (XMR) Hits Fresh Records But Experts Warn Against FOMO Entries. As mentioned above, Monero had a big week in which it broke its previous record on a few occasions. The latest was on January 14 at almost $800, but experts warned investors to be wary of FOMO entries.

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