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The API crude oil inventory data for the week ending July 17 will be released in ten minutes.On July 22, Iranian President Pezechzian emphasized on the 21st that Iran must maintain internal unity and cohesion and should not unjustly belittle the results of the negotiations. Speaking at the National Industry and Mining Day celebrations, Pezechzian said that Iran has made steady progress on important issues such as the reopening of the Strait of Hormuz and the resumption of oil exports during the negotiations. Despite the US breach of contract, Irans achievements in these processes have "far exceeded expectations." Pezechzian said that discussions about the methods and results of the negotiations are welcome within Iran, but the results should not be belittled with unfounded statements. He stressed that maintaining unity and internal cohesion is crucial to Irans current situation.Market sources indicate that U.S. Chairman of the Joint Chiefs of Staff General Dan Kane has not explicitly stated whether a U.S.-Iran conflict would include ground troop operations.The Dow Jones Industrial Average rose 385.56 points, or 0.74%, to close at 52,224.82 on Tuesday, July 21; the S&P 500 rose 65.91 points, or 0.89%, to close at 7,509.19; and the Nasdaq Composite rose 329.13 points, or 1.29%, to close at 25,837.21.July 22nd - U.S. stocks closed Tuesday with the Dow Jones Industrial Average up 0.74%, the S&P 500 up 0.89%, and the Nasdaq Composite up 1.29%. SK Hynix (SKHY.O) rose 13.7%, Micron Technology (MU.O) rose 12%, SanDisk (SNDK.O) rose 14%, Nvidia (NVDA.O) rose nearly 2%, and SpaceX (SPCX.O) rose 3%. The Nasdaq China Golden Dragon Index closed down 0.69%, and NetEase (NTES.O) fell more than 3%.

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.