Market Overview
Bitcoin (BTC/USDT) eased 1.3% on January 15, slipping below the $97,000 mark after a strong five-day rally that took it to a two-month high, according to a Bybit report. The pullback comes as traders lock in gains after BTC met resistance near its upward trendline from November 21.
— Bybit (@Bybit_Official) January 15, 2026
Profit-Taking Pulls BTC and Precious Metals Lower
Similarly, gold (XAUUSD) and silver (XAGUSD) retreated slightly, down 0.4% and 3.6% respectively, following record or near-record highs. Brent crude oil also fell about 3% after hitting a three-month peak, ending a six-day winning streak.
Market participants attributed the pullback in safe-haven assets to easing geopolitical concerns. US President Donald Trump signalled a pause in potential action against Iran and hinted at holding off on critical mineral tariffs. These developments reduced perceived supply-side risks and prompted partial profit-taking. Meanwhile, optimism in global equities emerged after TSMC projected nearly 30% revenue growth for 2026, supporting broader indices such as the S&P 500 and NAS100.
FHE Leads Crypto Gains Amid Narrative Play
Amid the broader market pullback, FHE (Fully Homomorphic Encryption) emerged as a standout, climbing roughly 58% over the past two days. The token, backed by Binance Labs and Chainlink, underpins a fully encrypted Web infrastructure designed for secure AI computation and data management. Analysts note that high-beta, story-driven tokens like FHE often attract capital when macro markets stabilize, and the current rally reflects growing interest in AI-adjacent crypto themes.
Technical observers highlighted that FHE could encounter resistance around the 0.0835 level, with the 50-day simple moving average offering near-term support if the narrative loses momentum. The rally reinforces the trend of investors seeking emerging technology plays within the crypto sector while locking profits in more established assets like BTC.
With official U.S. labor reports suspended due to the ongoing government shutdown, traders are increasingly relying on alternative economic data, subtly influencing sentiment across crypto markets, Bybit Research noted.