AI Summary
Show More
Quickly grasp the article's content and gauge market sentiment in just 30 seconds!
Today’s trading action so far reflects some profit-taking, even as geopolitical tensions show a slight let up.
Bitcoin (BTC/USDT) is down about 1.3%, dipping back below the psychological $97k level and on course for its first daily drop in 5 days. Still, it remains around a 2-month high, having met resistance at the upward trendline that commenced since the Nov. 21st intraday low.
Gold (XAUUSD+) is now easing just below record highs, down 0.4% on some profit taking.
Silver (XAGUSD) is down 3.6%, also set for its first daily decline in 5 days like BTC, but the former is still holding around the psychological $90 level despite pulling away from yesterday's all-time high.
Brent Crude Oil (UKOUSD): down ~3% after reaching a 3-month high yesterday (Wed, Jan 14), perhaps set to end a 6-day winning streak.
S&P 500 futures (SP500) in turn are finding support at the upward trendline that began since Nov 21st, catching a bid after back-to-back daily declines.
Trade gold, silver, oil, and US stock indices on Bybit Tradfi.
Oil is falling as US President Donald Trump suggested he may hold off on attacking Iran for now, easing supply-side concerns. Such signs of easing geopolitical tensions may have prompted profit taking in safe havens such as gold.
President Trump also appears to be holding off on critical mineral tariffs, which led to Silver slipping from its record highs. Even with today's declines, XAGUSD still has a year-to-date advance of about 25%.
POTUS also said he has no plans to oust Fed Chair Jerome Powell despite the US central bank being served grand jury subpoenas by the Trump administration.
Beyond Trump-inspired headlines, global equities appear to be seeing some support after TSMC (world's biggest contract chipmaker) said it expects to keep spending more amidst the AI boom, while forecasting revenue growth of almost 30% for 2026. Such signals bode well for major AI / big tech players that are huge members of broader stock indices such as the SP500 and NAS100.
FHE is today’s standout mover within the Bybit universe, surging some 58% over the past 2 days.
The rally comes amid signs of rotation into high-beta, story-driven tokens when macro markets take a breather.
FHE (Fully Homomorphic Encryption) is the infrastructure pioneered by the Mind Network - backed by Binance Labs and Chainlink - to create a fully encrypted Web which enables secure AI computations and data management (think: privacy-meets-AI narrative).
Still, the rise in such tokens should come as no surprise for the ardent learners at Bybit - as we had highlighted such "quantum/cryptographic resistance" projects as a key theme to watch in our 2026 Crypto Outlook, published on Jan 5th.
If FHE could stay on traders’ radars as a pure narrative play, especially in a market hungry for the next AI-adjacent theme, sustained gains may see resistance around the 0.0835 support-turned-resistance zone in mid-2025.
However, if the narrative fails to gain further traction, FHE may tumble back to its 50-day simple moving average (SMA) for near-term support.