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The Hang Seng Tech Index extended its gains to 2% in the afternoon, while the Hang Seng Index is currently up 2.35%.On January 28th, at a press conference held this morning during the Fifth Session of the 14th Guangdong Provincial Peoples Congress, Qin Weizhong, Deputy Secretary of the Shenzhen Municipal Committee and Mayor of Shenzhen, stated that in the new year, Shenzhen will, in accordance with the work plan of the Provincial Party Committee and Provincial Government on promoting the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, actively promote in-depth exchanges and cooperation between Shenzhen and Hong Kong in all aspects and fields, especially strengthening the alignment of development strategies with Hong Kongs Northern Metropolitan Area, accelerating the interconnection of infrastructure, and this year will see the full completion and opening of the new Huanggang Port, accelerating the construction of projects such as the Hetao West Cross-River Bridge and the new No. 1 Channel, and jointly promoting the planning and construction of the Hong Kong-Shenzhen Western Railway and the Hong Kong Northern Link branch line with Hong Kong. Further leveraging the major platform role of Qianhai and Hetao, Shenzhen will promote more fruitful results in cooperation on modern service industries and technological innovation between Shenzhen and Hong Kong, jointly develop and construct the "one river, two banks, one zone, two parks" of Hetao, promote the cross-border flow of technological innovation elements, open sharing of resources, and collaboration of science and technology industries, and work together to accelerate the creation of a high-quality living circle that is livable, business-friendly, and tourist-friendly, fully supporting Hong Kong to better integrate into and serve the overall development of the country.ECB Governing Council member Koch said: If the euro continues to strengthen, the central bank will need to take action.On January 28th, United Parcel Service (UPS) announced on the 27th that it plans to cut approximately 30,000 operational jobs this year and close 24 business locations by the end of June. This layoff is part of the companys business restructuring and transformation plan implemented since April of last year. On April 29th, 2025, UPS announced it would reduce costs and improve profitability through large-scale layoffs and the closure of operating facilities. In 2025, the company cut a total of 48,000 jobs and closed 93 business locations.Zimbabwes Energy Minister: Partnerships are needed for oil and gas extraction and production.

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.