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European Commission: Approves €6.1 billion in aid for Ukraines defense.On August 24th, Mark Dowding, Head of Fixed Income at RBC Blue Bay Asset Management, stated that the firm remains optimistic about the performance of inflation-linked bonds and inflation swaps amid continued uncertainty surrounding a Middle East peace agreement. According to LSEG data, the money market has already fully priced in a 25 basis point rate hike by the Federal Reserve in December. Dowding said, “In the Middle East, hopes for a peace agreement continue to diminish, and it looks like we will be in a gray area for an extended period. Trade flows through the Strait of Hormuz remain at only a fraction of pre-war levels.”On August 24, the State Administration for Market Regulation (National Standardization Administration) approved and released the mandatory national standard for "Compressed Natural Gas for Vehicles," which will take effect on August 1, 2027. This standard revision aims to improve product quality, ensure safe use, and promote fair trade. The implementation of this standard will effectively regulate the quality control of compressed natural gas products in my country, promote the high-quality development of the compressed natural gas for vehicles, ensure the normal operation of natural gas vehicles, and continuously improve the safety of public transportation.The commander of the Ukrainian drone force stated that Ukraine shot down a Russian MiG-29 fighter jet and two Russian ships in the Black Sea.European Commission President Ursula von der Leyen: Europe supports Ukraine and we will provide the necessary assistance when it needs it.

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.