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On May 11, French President Emmanuel Macron, who was visiting Kenya on May 10, stated that France had "never considered" any "deployment" in the Strait of Hormuz. In response to plans by France and the UK to send additional warships to the Red Sea and the waters surrounding the Strait of Hormuz, Iranian Deputy Foreign Minister Gharibabadi posted on social media on May 10 that any external military deployment under the guise of "protecting shipping" would "no less exacerbate the crisis and militarize this crucial waterway." Only Iran can guarantee the security of the strait and will not allow any country to interfere.On May 11, following reports that Iran had responded to the US ceasefire proposal, Sultan Barakat, a professor at Hamad bin Khalifa University in Qatar, warned against expecting a swift breakthrough in negotiations. Barakat stated that a comprehensive peace agreement is still a long way off, and this should not be considered the end of the US-Iran conflict for an extended period. He pointed out that Iran has accumulated considerable resentment during the war; the deaths of its supreme leader and his family, numerous senior officials, and the immense destruction caused by the war have made it difficult for the Iranian people to trust the United States. However, both sides hope to extend the ceasefire as long as possible and use it as a starting point for gradually resolving various issues through negotiations. Barakat noted that Iran initially hoped for a comprehensive peace agreement but has now shifted to a phased approach. He speculated that Iran might want to restore navigation through the Strait of Hormuz and propose a joint oversight plan with the US.On May 11, according to the Iranian Students News Agency, the head of the Iraqi military media center responded to foreign media reports about the existence of Israeli bases in Iraq, declaring that the news was baseless and untrue.The Kingdom of Bahrain condemned Irans continued blatant attacks on the United Arab Emirates.US Ambassador to the United Nations: Iran cannot hold the world economy hostage.

BTC Bulls Target $21,000 as ETH Breaks Down Resistance at $1,500

Skylar Shaw

Oct 27, 2022 16:22

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Bitcoin (BTC) increased by 3.95% on Tuesday. BTC finished the day at $20,104, reversing a loss of 1.25% from the previous day. Notably, BTC avoided falling below $19,000 for a fourth session and ended the day around $20,000 for the first time since October 5.


BTC dropped to a low of $19,251 late in the morning after a negative morning. However, BTC soared to a late-afternoon high of $20,432 after avoiding the First Major Support Level (S1) at $19,138. The Major Resistance Levels were breached by BTC. BTC, however, breached the Third Major Resistance Level (R3) at $20,258 due to a late retreat.


On Tuesday, Ethereum (ETH) increased by 8.63%. ETH finished the day at $1,460, reversing a loss of 1.47% from the previous day. Notably, ETH made its first appearance at $1,500 since the middle of September.


Following a volatile morning, ETH dropped to an early low of $1,335. ETH surged to a high of $1,525 in the late afternoon, avoiding the First Major Support Level (S1) at $1,322. The day's Major Resistance Levels were overcome by ETH. Late in the day, support came from the Third Major Resistance Level (R3) at $1,440.


A less hawkish Fed policy decision in December was predicted on Tuesday thanks to US economic figures. A Wall Street Journal article and FOMC member Mary Daly discussed the Fed taking its foot off the throttle last Friday.


Economic figures this week have shown the impact of Fed policies on the economy. The services sector contracted more sharply in October's preliminary private sector PMIs, and consumer confidence also suffered.


The housing sector was also impacted by the increase in mortgage rates, with a noticeable slowdown in home price increases.


There are no relevant statistics at this time for the markets to evaluate. Although FOMC members are prohibited from speaking publicly until November 3, they are unable to alter the narrative, which supports the optimistic morning session.


The FedWatch Tool estimated the likelihood of rate increases in November and December to be 95.1% and 47.9%, respectively, as of this morning. The chance of a 75-basis point increase in December was 77.0% a week ago.


Elon Musk's intentions to complete the purchase of Twitter (TWTR) and rumors that CFTC Chairman Rostin Behnam may classify BTC and ETH as commodities are two more factors influencing the surge.

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