• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
February 24 - The Peoples Bank of China (PBOC) kept the one-year and five-year loan prime rates (LPR) unchanged at 3% and 3.5% respectively, marking the ninth consecutive month of no change.Chinas one-year loan prime rate as of February 24 was 3%, as expected and unchanged from the previous value of 3.00%.Chinas five-year loan prime rate (LPR) as of February 24 was 3.5%, compared to an expected 3.50% and the previous value of 3.50%.Chinas one-year loan prime rate (LPR) up to February 24 will be announced in ten minutes.1. All three major U.S. stock indexes closed lower. The Dow Jones Industrial Average fell 1.66% to 48,804.06 points, the S&P 500 fell 1.04% to 6,837.75 points, and the Nasdaq Composite fell 1.13% to 22,627.27 points. IBM fell more than 13%, and American Express fell more than 7%, leading the decline in the Dow. IBM suffered its biggest drop since 2000 due to the threat of AI to its core business. The Wind U.S. Tech Giants Index fell 0.99%, with Microsoft falling more than 3% and Tesla falling nearly 3%. The Nasdaq China Golden Dragon Index fell 0.95%, with Kingsoft Cloud falling nearly 9% and BOSS Zhipin falling more than 6%. 2. All three major European stock indices closed lower. The German DAX index fell 1.06% to 24,991.97 points, the French CAC40 index fell 0.22% to 8,497.17 points, and the UK FTSE 100 index fell 0.02% to 10,684.74 points. The EUs freeze on the ratification process of the trade agreement with the US was the main trigger. 3. 4. International precious metal futures generally closed higher. COMEX gold futures rose 3.29% to $5,247.90 per ounce, and COMEX silver futures rose 6.87% to $88.00 per ounce. 5. The main US crude oil contract closed down 0.29% at $66.29 per barrel; the main Brent crude oil contract fell 0.29% to $71.09 per barrel.

The Bogged-down Crypto Market

Cory Russell

Oct 08, 2022 14:09

微信截图_20221008100800.png


The market remained inside the range that has been in place since the second half of September once again as a result of the 50-day moving average in BTCUSD acting as local resistance.


At the time of writing, Bitcoin was trading slightly under $20K, down 1.9% over the previous day.


Investors in the cryptocurrency market have been deterred from purchasing as a result of a rapid rise in stock markets that has slowed down in recent days due to uncertainty. The market's capitalization dropped 1.6% over night to $956.

News context

We've lately seen some stability in the bitcoin market, according to Sam Bankman-Fried, CEO of the cryptocurrency exchange FTX. But when the Fed's monetary policy becomes more restrictive, it has an impact on all assets, leading cryptocurrencies as well as fiat money and stock indices to change.


Hoarders have amassed a record 13.7 million coins, or 71.5% of the whole BTC supply, according to Ark Invest, purchasing the cryptocurrency that has been falling since the spring. Additionally, vendors have almost reached the limits of their ability to sell.


Due to a higher dollar last week, the connection between bitcoin and gold hit its highest point in more than a year, according to Kaiko. Despite a Fed rate rise, gold and bitcoin failed to exert their role as haven assets.


The huge centralized and regulated Binance and Coinbase will be the main targets of the EU's ban on Russian cryptocurrency wallets, which may increase demand in smaller exchanges with laxer KYC but generally increase the danger of more active cryptocurrency sales.