Bitcoin Holds Below $92,000 as Atkins Calls ‘Big Week for Crypto’

Bitcoin price is still capped below $92,000 as investors hold steady ahead of what U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins says will be a big week for crypto.

Atkins’ remarks came days before the U.S. Senate Banking Committee is expected to vote on the Digital Asset Market Clarity Act (CLARITY).

BTC edged down a fraction of a percentage over the past 24 hours to trade at $91,997 as of 12:49 a.m. EST, with trading volume up 40% to $42.4 billion, indicating an increase in trader activity despite a slight decline.

The Senate will increase the market structure on Thursday

According to Atkins, “passing bipartisan market structure legislation will help us future-proof against rogue regulators.”

It’s a big week for crypto – Congress is poised to improve our financial markets for the 21st century.
I am fully in favor of Congress clarifying the division of powers between the SEC and the @CFTC. pic.twitter.com/NtDWRW85kL

– Paul Atkins (@SECPaulSAtkins) January 12, 2026

Lawmakers in the House of Representatives passed the bill in July and it has been working its way through the Senate for months, likely slowed by a 43-day government shutdown in October and November.

Banks and several cryptocurrency companies have raised concerns about the bill’s stablecoin rewards provisions, while many Democrats are reportedly pushing for stronger ethical safeguards and clearer guidance on decentralized finance.

In the interview with Fox Business’ Stuart Varney, Atkins also did not rule out the possibility of U.S. authorities seizing Venezuela’s Bitcoin holdings after U.S. forces overthrew and captured President Maduro.

The SEC chairman said it “remains to be seen” what action, if any, the United States would take if given the opportunity to seize the reported 600,000 BTC.

NOW: 🇺🇸 🇻🇪 SEC Chairman Paul Atkins says it is still unclear whether the United States will pursue the seizure of Venezuela’s alleged $60 billion in Bitcoin holdings. pic.twitter.com/hyD1pYbZMG

– CryptoGoos (@cryptogoos) January 12, 2026

Crypto Markets Trade Cautiously Amid Political, Economic Tensions

However, the crypto market is still trading with cautious and modest risk, as traders have taken into account the Justice Department’s criminal investigation into Federal Reserve Chairman Jerome Powell.

The crypto space edged down a fraction of a percentage point to a market cap of $3.21 trillion, as the S&P 500 and Dow Jones Industrial Average closed at record highs on Monday, hitting 52-week highs of 6,986 and 49,633, respectively.

In the middle of escalation of political tensionsGold and silver also hit all-time highs, with gold surpassing $4,600 an ounce and silver reaching over $85 an ounce, driven by safe-haven demand.

Meanwhile, data from coin mechanism shows that US Spot BTC ETFs saw a net inflow of $116.70 million, a positive figure after four consecutive days of net outflows.

Can the price of BTC also skyrocket?

Bitcoin Price Analysis: Traders Eye a Breakout

Bitcoin investors remain cautious of the ascending triangle pattern, a formation that in most cases signals a bullish rally after a breakout.

THE BTC Price is trading below a sustained resistance level around $94,000 and a rising support level, with supply zones at $80,500, $85,300 and $87,200, now supported by $89,600.

In the short term, Bitcoin price has risen above the 50-day simple moving average (SMA) on the daily chart, adding to the bullish outlook and possibility of a breakout.

Meanwhile, major indicators support a bullish outlook. The Relative Strength Index (RSI) at 57 and rising signals that investors are entering the market, which could result in a price surge.

Bitcoin’s Moving Average Convergence Divergence (MACD) has also turned positive, with the blue MACD line moving above the orange signal line, confirming that sentiment has turned positive.

If the rally accelerates and momentum continues to build, Bitcoin price could climb towards the psychological resistance of $94,000. If this level is breached, the next likely target will be the previous demand zone at $106,106, which lies within the 200-day SMA.

Conversely, if the bears act on BTC at this level, key support around $89,000 would hold.

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