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April 29th - The 10th Chief Negotiators Meeting of the Working Group on Chinas Accession to the Digital Economy Partnership Agreement (DEPA) was held in Seoul, South Korea, from April 27th to 28th. China exchanged in-depth views with DEPA members including Chile, New Zealand, Singapore, and South Korea on the negotiation process for Chinas accession and held detailed discussions on related issues.On April 29th, the China Multimodal Transport Development Alliance was established in Beijing. Led by China State Railway Group Co., Ltd., and jointly initiated by four leading state-owned enterprises in the logistics sector—China COSCO Shipping Corporation Limited, China Merchants Group Limited, China Logistics Group Co., Ltd., and China Digital Logistics Information Co., Ltd.—the alliance will jointly build three collaborative platforms for rail-water intermodal transport, rail-road intermodal transport, and technological innovation, as well as the 95306 national multimodal transport service hotline, to promote the high-quality development of multimodal transport. The alliances website was also launched simultaneously.According to the Iranian Students News Agency, Yemen has reiterated Irans right to control the Strait of Hormuz. The Yemeni Foreign Ministry on Wednesday condemned US piracy in the Gulf of Oman and emphasized that attacks on Iranian merchant ships and the detention of their crews violate international law.New Zealand Prime Minister: The free trade agreement signed with India is very exciting. It will create jobs, raise wages, and provide more opportunities for New Zealand.On April 29th, the Guangdong Branch of the Peoples Bank of China, in collaboration with the Guangdong Provincial Meteorological Bureau, organized the provinces financial system and local meteorological departments to launch an innovative "Climate Loan" product series. This initiative fully integrates professional data from meteorological monitoring and climate risk assessment into the entire credit service process. To date, financial institutions in Heyuan, Maoming, Zhaoqing, Zhuhai, and other areas have implemented "Climate Loans," with cumulative credit lines exceeding 140 million yuan and loans disbursed exceeding 84 million yuan.

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.