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Next week sees a flurry of Q2 earnings reports, including those from SpaceX (SPCX.O), SanDisk (SNDK.O), and Western Digital (WDC.O). On the economic front, key data releases include Chinas July foreign exchange reserves and trade balance (in billions of yuan); the US June trade balance (in billions of US dollars); US July non-farm payrolls; unemployment rate; and the S&P Global Manufacturing PMI. Please stay tuned. For a complete earnings calendar of individual stocks, please check the calendar section of the US-Hong Kong Telecom APP. Click to view...July 31 – The Bulgarian National Assembly announced on July 31 that presidential elections will be held on October 25. Incumbent Bulgarian President Eva Yotova previously stated in an interview that she will participate in the election. According to the Bulgarian constitution, the president is directly elected by voters for a five-year term and can be re-elected once. The next presidential election should be held two to three months before the current presidents term expires. In January of this year, the Bulgarian Constitutional Court approved the resignation of incumbent President Radev. Then-Vice President Yotova succeeded him as president. Radevs presidential term was originally scheduled to end in January 2027.According to The Daily Telegraph, a land blockade against Iran could target key border crossings, such as Inchehbolun and Salahs-Salahs, which connect Iran and Turkmenistan.On July 31, the International Cooperation Department of the China Securities Regulatory Commission (CSRC) issued a filing notice regarding the overseas listing and full circulation of unlisted shares of Vidali Technology Co., Ltd. The company plans to issue no more than 220,164,400 overseas listed ordinary shares and list them on the Hong Kong Stock Exchange. Seventeen shareholders of the company intend to convert a total of 765,789,470 unlisted shares in China into overseas listed shares for trading on the Hong Kong Stock Exchange.The Iranian Revolutionary Guard stated that the two attacked oil tankers did not respond to Irans warnings.

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.