Topics Daily Bits

Post-Fed rate cut: Bitcoin steadies, tradfi surges, ICNT soars +40%

Beginner
Daily Bits
12 Des 2025

Following the Fed rate cut, its 3rd rate cut in a row, Bitcoin is trying to find a more solid footing.

Spot prices of the world's biggest crypto yet again rebounded off its 21-day simple moving average (SMA) - a critical support level for most of this week.

12_Dec_-_BTC.png

However, across the tradfi space, major assets across global financial markets have been able to take greater advantage of US interest rates moving lower:

  • The S&P 500 (Bybit: SP500) soared to a new all-time high!
  • Gold (Bybit: XAUUSD+) surged to a 7-week high (since Oct 21st)
  • EURUSD - the world's most traded FX pair - is now trading at levels not seen since early October.

  • This week has also seen new record highs for the likes of Silver (XAGUSD), as well as big-name US stocks such as Goldman Sachs, Walmart, Broadcom, and more.

Trade SP500, XAUUSD+, XAGUSD, EURUSD+, US stocks and more on Bybit MT5 here.

Sharp rise in US jobless claims boosts next Fed rate cut odds

Even as markets were still digesting the mixed signals from the latest FOMC meeting, markets were jolted by the latest weekly US jobless claims data.

First-time applications for unemployment benefits in the US jumped by 44,000 last week (ending Dec 6) to 236,000.

That's the biggest jump in the weekly initial jobless claims since March 2020 at the start of the pandemic!

The idea of a weakening US labour market then bolstered bets for Fed rate cuts, with the odds of a January rate cut rising from single-digits to 27%.

Markets are set to remain sensitive to US jobs and inflation prints between now and the next FOMC rate decision due January 28, 2026.

NOTE: Look out for our Week Ahead preview to be published Monday, Dec 15.

ICNT climbs to near-4 month high after key milestones

Within the Bybit universe, ICNT has been the best-performing token over the past 24 hours, climbing over 40% to briefly post its highest prices since mid-August 2025.

12_Dec_-_ICNT.png

ICNT is the token for the Swiss Web3 cloud platform called the Impossible Cloud Network (ICN), whose goal is to disrupt centralised tech giants with the foundations of the next-gen internet.

ICNT has soared as much as 72% since Dec 9, having been officially Verified Gold on DePIN Hub.
Screenshot_2025-12-12_at_12.12.48_PM.png

Source: @ICN_Protocol

This award comes after ICN last week marked a full year of continuous operation since its hardware (ScalerNodes) and performance validators (HyperNodes) were launched.

ICYMI: This week also saw new listings across Spot, Perps, and more for ALMANAK, FOLKUSDT, NIGHT, Humidifi (WET), and STABLE.