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August 8th - The most important UK data next week will be the second-quarter GDP report released on Thursday. Deutsche Bank UK economists predict that June GDP will decline by 0.1% month-on-month, keeping second-quarter GDP growth at 0.4% in 2026, but downside risks have increased.August 8th - The most important data release next week will be the US July CPI report on Wednesday, followed by PPI data on Thursday. Deutsche Banks US economists expect overall consumer prices to rise 0.15% month-on-month, compared to a 0.42% decline in June; core CPI is expected to rise 0.26% month-on-month, unchanged from June. For PPI data, overall PPI is expected to rise 0.22% month-on-month (previously 0.13%).Yemens Ministry of Defense: Launches military operation against Houthi rebels.On August 8th, Torsten Slok, chief economist at Apollo Global Management, stated, "Inflation is no longer just an economic issue; its about the credibility of the Federal Reserve. Inflation has been above target since 2021. For the worlds number one central bank, high inflation has persisted for a very, very long time."August 8th - At 9:00 AM on August 8th, the Ministry of Transport raised its typhoon defense response to Level II. The center of Typhoon Dolphin (strong typhoon), the 13th typhoon of this year, was located at 9:00 AM today (August 8th) in the southern part of the East China Sea, approximately 520 kilometers east of Wenzhou City, Zhejiang Province. It is expected to move westward at a speed of 10-15 kilometers per hour, with little change in intensity or a slight increase.

BTC Fear & Greed Index Falls Despite BTC Avoiding Sub-$16,000

Jimmy Khan

Nov 24, 2022 15:40

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Bitcoin (BTC) increased by 2.44% on Wednesday. BTC finished the day at $16,613 after rising by 2.87% on Tuesday. For the first time in three sessions, BTC avoided trading below $16,000.


BTC dropped to a low of $16,168 early in the morning following a mixed day's start. BTC surged to a late high of $16,682, avoiding the First Major Support Level (S1) at $15,791. At $16,469, the First Major Resistance Level (R1) was breached by BTC, which ultimately closed the day at $16,613.


On Wednesday, FTX contagion risk decreased even further, supporting the cryptocurrency market desperately needed. Former FTX CEO Sam Bankman-Fried boosted investor hopes after learning that the company had cash reserves of $1.24 billion.


Bankman-Fried wrote in a letter to the staff, "Perhaps there still remains a chance to preserve the company. I think there are many billions of dollars in sincere interest from new investors that could be used to compensate customers. But since I have no control over it, I can't guarantee you anything.


The letter came after news that Justin Sun of Tron and Brad Garlinghouse of Ripple were interested in buying FTX assets. Investors are hopeful that the collapse of FTX will have a minimal effect on creditors given the stated cash holding of $1.24 billion.


The FOMC meeting minutes provided more assistance for the cryptocurrency market overnight. Before the holidays, talk of letting up on the gas helped riskier assets, with the NASDAQ Composite Index increasing by 0.99%. The US economic data underwhelmed, though, restricting the NASDAQ's potential growth.


Since the US markets are closed for Thanksgiving, there are no US statistics to take into account today.