U.S. CPI: +2.9% YEAR-OVER-YEAR (EST. +2.9%); U.S. CORE CPI: +3.2% YEAR-OVER-YEAR (EST. +3.3%)

On-chain analytics firm CryptoQuant noted on January 17 that Bitcoin’s recent price rebound looks more like a short-lived bounce than a sustained recovery, as market demand remains weak. In its Friday report, CryptoQuant stated: “Bitcoin has risen 21% since November 21—this seems to be a bear market bounce. Demand has improved slightly but still looks weak.” A bear market bounce is a sharp price recovery within an overall downtrend that doesn’t change the fundamental bearish structure. Research director Julio Moreno said the rebound is still backed by shrinking demand trends. After previously dropping ~19% and falling below its 365-day moving average, Bitcoin has climbed ~21% since November 21. CryptoQuant views this moving average as a key line between bull and bear markets—once Bitcoin drops below it, a bear market is confirmed. Analysts note the current trend mirrors 2022’s: back then, Bitcoin also saw a strong bounce after breaking below the 365-day average, only to be blocke

On Jan. 17, the White House’s top cryptocurrency advisor clarified that U.S. prosecutors have not liquidated seized digital assets linked to Samourai Wallet developers — pushing back against earlier reports that the Bitcoin may have been sold in violation of a Trump administration executive order. Patrick Witt, Executive Director of the President’s Financial Advisors Committee, tweeted Friday that he’d received confirmation from the Department of Justice (DOJ) regarding the prosecution of Samourai founders William Lonergan Hill and Keonne Rodriguez. “Update: We’ve confirmed with DOJ that, per E.O. 14233, seized Samourai Wallet digital assets have not been and will not be liquidated,” Witt wrote. “They will be held as part of the government’s strategic Bitcoin reserve.” Earlier this month, Bitcoin Magazine cited court filings and data to report that the U.S. Marshals Service had sold over $6 million worth of Bitcoin tied to the case. The assets were part of funds Hill and Rodrigue

On Friday, January 17, the Audi Revolut F1 Team announced a multi-year partnership with crypto lending platform Nexo. This marks the automaker’s first official digital asset partner as it gears up to enter Formula 1 racing this year. Over the four-year collaboration, Nexo will activate the partnership globally through high-end experiences and digitally native interactive initiatives. These opportunities include exclusive rights, co-created content, educational programs, and a new wave of immersive brand experiences.

**Jan 17 Update** U.S. Democratic senators have returned to negotiations over the crypto market structure bill, holding a conference call with crypto industry representatives on Friday amid strong willingness to advance the proposal. The push comes after a legislative setback this week: the Senate abruptly delayed the bill’s first vote. Participants on Friday’s call said the Senate Agriculture Committee still aims to hold a markup hearing by month’s end, though discussion details were not to be disclosed. Democrats from the two committees tasked with advancing the bill—Banking and Agriculture—joined the call, which came one day after the Senate Banking Committee’s scheduled Thursday hearing. The draft released this week faced significant criticism, with U.S. exchange Coinbase saying it cannot support the version. Senate Banking Committee Chair Tim Scott has not set a new date for his panel’s markup, where lawmakers will debate amendments and could vote to advance the bill to

**Crypto mining firm Riot Blockchain announced Friday (Jan. 17) it has completed a $96 million acquisition by selling roughly 1,080 bitcoins to buy 200 acres of land in Rockdale, Texas.** The company also entered a data center lease and service agreement with semiconductor giant AMD, with an initial plan to deploy 25 megawatts of critical IT capacity. Under the 10-year initial agreement, Riot projects ~$311 million in revenue—with the potential to hit $1 billion if three 5-year renewal options are exercised. Fueled by the news, Riot’s Nasdaq-listed stock (ticker RIOT) jumped 11% in 24 hours to $18.80.

On January 17th, data from Onchain Lens indicates a recently created wallet withdrew 76,661 ZEC (Zcash) from Binance three hours ago. The tokens are valued at roughly $31.65 million.