Bitcoin experienced a sudden and sharp price increase of approximately $2,000 on Friday, January 9, 2026, following two significant political and economic developments in the United States. The cryptocurrency, trading around $90,000, rocketed to $92,000 within an hour before settling slightly above $91,000.
The rally was triggered by a combination of events. First, former President Donald Trump posted unpublished jobs data on his social media platform, Truth Social, roughly 12 hours before the official December employment report was scheduled for release. The data indicated private-sector job growth of 654,000 over the past year, alongside a decrease in government employment by 181,000.
Concurrently, the U.S. Supreme Court announced it would not release its highly anticipated ruling on the legality of tariffs imposed by President Trump in 2025. This delay eased near-term macroeconomic uncertainty, causing the perceived odds of the tariffs being ruled legal to surge to 31%.
The positive sentiment spilled over into the broader cryptocurrency market. Ethereum saw steady gains, trading near $3,120, while XRP rose above $2.10. The total crypto market capitalization increased by more than 1% to approximately $3.13 trillion. Other large-cap tokens like BNB and Solana also posted gains.
The rapid price ascent led to forced liquidations in derivatives markets, wiping out roughly $39 million in short positions. White House National Economic Council Director Kevin Hassett commented on the tariff situation, stating that the administration had discussed backup legal options and possessed other legal authorities to implement similar trade measures if the court eventually rules against the tariffs.
