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Traders have reduced their bets on a European Central Bank rate hike, which is now expected to be 35 basis points by the end of the year.June 12th - To support the "Clean Up the Internet: Rectifying the Chaos in AI Applications" campaign, further regulate AI services and applications, promote the healthy and orderly development of the industry, and effectively protect citizens legitimate rights and interests, the Cyberspace Administration of Chinas Reporting Center will launch a "Special Reporting Zone for Chaos in AI Applications" starting in June 2026, specifically to accept public reports. The scope of accepted reports mainly includes 14 categories of issues, such as inadequate implementation of labeling for generated and synthesized content, and the creation and dissemination of false, inaccurate, violent, and vulgar information.June 12th - The 2026 USA FIFA World Cup officially kicked off on June 11th local time. During the opening ceremony, two adorably ugly Labubu dolls, one brown and one blue, appeared on stage. Their unique and cute appearance became a delightful surprise for the event. It is reported that the World Cup co-branded "Labubu" dolls, priced at 599 yuan, have already sold tens of thousands of units, quickly selling out after being available for purchase during the live stream.June 12 – The 12th China-Latin America and Caribbean Infrastructure Cooperation Forum, hosted by the Ministry of Commerce of China and organized by the China International Contractors Association and the Macao Investment Promotion Institute, was successfully held in Macao from June 10 to 12. Li Chenggang stated that, guided by the five major projects announced by President Xi Jinping at the opening ceremony of the Fourth Ministerial Meeting of the China-CELAC Forum, China is focusing on green and low-carbon transformation and digital technology innovation, continuously promoting the upgrading of China-Latin America trade and investment cooperation. China will deepen strategic alignment and people-to-people cooperation with Latin American countries, firmly uphold the multilateral trading system, create an inclusive and open development environment, promote the digitalization, greening, and intelligentization of infrastructure cooperation, continuously enhance the sustainability of China-Latin America infrastructure cooperation, and ensure that the fruits of cooperation better benefit the people of China and Latin America.June 12th - The UKs GDP fell 0.1% month-on-month in April, impacted by the economic downturn caused by the war with Iran. Data released by the Office for National Statistics on Friday was in line with economists expectations of a decline. The weak April performance was partly due to the fading of factors that drove exceptionally strong growth in March, when consumers stockpiled petrol and manufacturers moved up production in anticipation of higher energy prices from the Iran war. Looking at the less volatile three-month rolling data, the UK economy grew 0.7% in the three months to April compared to the previous three months, in line with analysts expectations. Since the outbreak of the Middle East conflict in late February, damage to energy infrastructure and the blockade of the Strait of Hormuz have driven oil prices sharply higher. The weak April performance is another blow to Prime Minister Starmer, who is facing a leadership challenge if Andy Burnham wins next weeks Mekfield by-election.

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.