Key Points

• Bitcoin continues its price rally 4 days ahead of the Trump administration debut, nearing $102,000.
• Market optimism is fueled by continued institutional accumulation and rising odds of the SBR creation in the US.

Bitcoin continues its price rally that kicked off on January 13, fueled by continued institutional accumulation and the nearing of a new administration in the US set to bring crypto-friendly policies.

Also, there’s a fight against the discrimination of Bitcoin companies via Operation Chokepoint 2.0 taking place, as Senator Cynthia Lummis leads the charge in Washington DC.

Bitcoin Trades Above $101,000

At the moment of writing this article, BTC is trading above $101,000, up by 2.5% in the last 24 hours. The digital asset’s market cap surpassed $2.02 trillion in a price rally that debuted on January 13.

Earlier, BTC got close to $102,000, fueled by multiple factors, including, US economic favorable data, continued inflows in BTC ETFs, whale accumulation, and the nearing of the Trump administration in the US.

BTC ETFs Recorded Over $626 Million Inflows on January 16

Yesterday, BTC ETFs in the US recorded over $626 million in inflows, led by BlackRock’s BTC ETF, IBIT, at almost $528 million influxes.

On January 15, BTC ETFs saw over $755 million in inflows, following a 4-day streak of outflows, according to SoSoValue data.

As of January 16, the total net assets locked in BTC ETFs were almost $115 billion, while the cumulative net flow in the crypto products since their debut in January 2024 was above $37 billion, according to the same official data.

Continued inflows in BTC ETFs signal rising institutional demand. CryptoQuant also highlighted BTC accumulation using another important metric.

Significant Inflows to Coinbase Prime

Earlier today, CryptoQuant noted in a post via X that significant inflows to Coinbase Prime show high OTC trading activity. This is the preferred Bitcoin accumulation method for US institutions.

CryptoQuant shared a graph showing the rising number of address inflows to Coinbase Prime, including cold wallet transactions.

CryptoQuant’s CEO, Ki Young Ju, explained that when there is a significant increase in inflows to the Coinbase Prime Brokerage Service, the preferred BTC purchase channel for US institutions, it suggests that multiple OTC trades are taking place.

Since December 22, 2024, the OTC balance has been on the rise, signaling important BTC inflows into OTC trading platforms.

Amidst institutional rising interest in BTC, the crypto market is fueled by optimism about the upcoming Trump administration and an ongoing fight against the discrimination of BTC companies via Operation Chokepoint 2.0.

Sen. Cynthia Lummis Fights Against Operation Chokepoint 2.0

Yesterday, Satoshi Act Fund’s CEO, Dennis Porter, shared a post via X, highlighting Sen. Cynthia Lummis’ fight against Operation Chokepoint 2.0. She continues to lead the charge in the US to make sure that it remains the best place in the world for BTC.

Yesterday, Lummis noted that the Federal Deposit Insurance Corporation (FDIC) is attempting to hide Operation Chokepoint 2.0 and it must preserve all documents related to crypto immediately. She also shared a US Senate letter asking for this preservation.

Porter also noted via X that there is “no one on this planet” who deserves more respect for their leadership on Bitcoin than Lummis.

Optimism Flows in the Crypto Industry

The US has 4 more days before the Trump administration takes over, bringing crypto-friendly policies. Also, he is expected to allow the establishment of a Strategic BTC Reserve, as previously confirmed. According to the Kalshi prediction market, there is a 64% chance that Trump will create an SBR.

Meanwhile, it has been already confirmed that a total of 8 states are leading the charge to push a Strategic Bitcoin Reserve Bill:

• Florida
• Alabama
• New Hampshire
• Pennsylvania
• Ohio
• North Dakota
• Oklahoma
• Texas

All signs point to a great future for Bitcoin and crypto in the US and abroad starting this year. Today, a few days ahead of Trump taking over the US, a Crypto Ball is set to take place in Washington DC.

The event will be hosted by David Sacks, and it will honor Trump as the first crypto president.

Special guests include important names in the crypto industry.