Bitcoin Surges Past $94,000 as New CPI Data and ETF Inflows Drive Momentum

Bitcoin climbed past $94,000 on January 13, 2026, driven by new U.S. inflation data and renewed inflows into spot Bitcoin exchange-traded funds according to TradingView. The price briefly touched a high of $94,400 earlier in the week, according to CoinMarketCap.

The rise follows mixed investor behavior in the first few trading days of 2026. Bitcoin ETFs initially attracted $1.2 billion in inflows, but flows reversed in subsequent sessions, with $243 million in outflows recorded on January 6 as reported by Blockonomi.

CryptoQuant CEO Ki Young Ju anticipates a period of consolidation for Bitcoin, with the asset likely to trade in a flat range through the first quarter of 2026 according to Yahoo Finance. He cited reduced capital inflows and investor rotation into traditional assets like stocks and precious metals as key factors.

Why Did This Happen?

Recent U.S. Consumer Price Index (CPI) data released on January 13 showed a core rate of 2.6%, below market expectations of 2.7% as Business Standard reported. This data has been cited by President Donald Trump as justification for a potential interest rate cut by the Federal Reserve according to the same report.

The Fed has remained cautious about aggressive rate cuts, emphasizing the need to monitor the economic impact of earlier reductions. However, Trump has repeatedly called for faster action to lower borrowing costs as Investopedia noted.

Investor behavior has also been influenced by geopolitical and regulatory developments. The Trump administration's decision to subpoena Federal Reserve Chair Jerome Powell over comments on building renovations has raised concerns about central bank independence as Business Times reported. Powell described the move as a political pretext to assert control over monetary policy according to the same source.

How Did Markets React?

The announcement of the subpoenas caused a brief market reaction, with U.S. Treasury yields rising and gold prices hitting a record high above $4,600 an ounce according to Investopedia. However, broader stock markets remained largely stable as the same report indicates.

Bitcoin ETF flows have shown a mixed pattern. While early January saw strong inflows, recent days have shown outflows in Bitcoin ETFs, with only BlackRock's IBIT product recording positive flows as Blockonomi reported. Ethereum and Solana ETFs, by contrast, have continued to see inflows according to the same analysis.

Institutional demand for Bitcoin remains strong. Major banks such as Wells Fargo and Morgan Stanley have been building positions in Bitcoin through ETFs according to Yahoo Finance. This trend has been interpreted as a sign of growing institutional confidence in the asset class.

What Are Analysts Watching Next?

CryptoQuant CEO Ki Young Ju has warned that Bitcoin is unlikely to experience a sharp price drop in the near term but expects a period of sideways trading as Yahoo Finance reported. He also noted that historical patterns suggest January and early February are typically strong months for Bitcoin according to the same report.

VanEck, a major asset manager, has projected Bitcoin could hit $2.9 million by 2050 in a base-case scenario as BZinga reported. The firm's more optimistic "hyper-Bitcoinization" scenario suggests the price could reach $53.4 million by 2050 if Bitcoin captures a significant share of global trade according to the same analysis.

Binance founder Changpeng Zhao has expressed optimism about an upcoming "super cycle" for Bitcoin, pointing to rising institutional demand and regulatory developments according to Yahoo Finance.

Investor sentiment remains mixed. The Crypto Fear & Greed Index has remained in the "fear" range for months, with a score of 28 as of January 10 as reported. This indicates ongoing caution among traders despite positive macroeconomic data.

Upcoming events will be closely watched by market participants. The U.S. CPI data for December 2025, released on January 13, was a key focus as TechInsider noted. Investors will also be watching the January 22 earnings report from Procter & Gamble and any developments in the ongoing legal discussions surrounding the Fed according to the same source.