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August 28th - U.S. stocks closed Thursday with the Dow Jones Industrial Average up 0.2%, the S&P 500 up 0.7%, and the Nasdaq Composite up 1.57%. SK Hynix (SKHY.O) rose 2%, Tesla (TSLA.O) rose 2.6%, Nvidia (NVDA.O) rose 8.7%, and Broadcom (AVGO.O) rose 4%. The Nasdaq China Golden Dragon Index fell 0.74%, Baidu (BIDU.O) rose 4%, and Alibaba (BABA.N) fell 3%.According to the Financial Times, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) will release a new set of rules on Thursday.August 28th - According to sources, US President Trump is expected to meet with US refiners and fuel retailers next week to discuss measures to lower gasoline prices. With the November midterm elections approaching, the Trump administration is seeking to alleviate the pressure on consumers caused by the Iran war. Companies expected to attend include refiners such as Valero Energy, Marathon Oil, and PBF Energy, as well as major fuel retailers. Republicans are trying to maintain their slim majority in Congress in the November elections. Currently, the price of regular gasoline in the US remains above $4 per gallon, about $1 higher than a year ago. The Iran war has disrupted global energy markets and led to tighter supplies of gasoline and other refined products. Major US oil companies and refiners reported strong second-quarter results. These results have drawn criticism from Trump, who believes that oil companies benefiting from price increases should do more to reduce costs for consumers. He has publicly pressured major oil producers and refiners to lower prices.On August 28th, it was learned that a U.S. federal judge lifted a nationwide injunction on August 26th against new rules for mail-in ballots issued by the U.S. Postal Service. The new rules required states to redesign ballot envelopes and upload voter lists to the Postal Service; if these requirements were not met, the Postal Service could refuse to mail the ballots. It is understood that the U.S. government had repeatedly proposed deploying federal law enforcement officers or Immigration and Customs Enforcement (ICE) personnel near polling stations, and the Department of Justice was also preparing to deploy approximately 1,000 election watchdogs. However, many of these measures still face legal and political obstacles.U.S. Treasury Department: The United States has granted Venezuela general licenses related to the oil and gas industry, gold, Venezuelan minerals, mining operations, and PDVSA (petroleum company).

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.