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① Iran 1. The Iranian Foreign Minister will travel to Baghdad tomorrow. 2. The Iranian Revolutionary Guard says it will take a tougher stance against "violations" by vessels. 3. About 30% of the Iranian population will attend the funeral of the late Supreme Leader. 4. Affected by the Middle East conflict, Irans inflation rate rose sharply to 88.6% year-on-year in June. 5. Following the US strikes against Iran, Iranian drones attacked Bahrain and oil tankers were attacked in the Strait of Hormuz. 6. The Iranian Islamic Revolutionary Guard Corps destroyed eight key US military infrastructure sites at the Ali Salim Air Base in Kuwait and the US Fifth Fleet in Bahrain. ② United States 1. The US strikes Iran again; explosions are heard in the Sirik region. 2. Trump says the US military strikes Iranian missile and drone storage sites. 3. According to CNN: US officials say that when Iran claimed to have attacked US targets in the Middle East, the US "detected several drones," but these drones did not hit their targets. ③ Israel 1. Israeli forces strike southern Lebanon again after the US-Lebanon framework agreement. 2. Israeli Prime Minister: Israel retains all the necessary "safe zones" along its northern border. 3. Israeli National Security Minister: The Lebanon-Israel-US framework agreement is a "major mistake." 4. Israeli official: If Hezbollah launches an attack, Israel will respond strongly. 5. Israeli Defense Minister: Has instructed the Israeli military to prepare for a long-term presence in the "safe zone" in southern Lebanon. 6. Israeli Prime Minister Netanyahu: We are breaking Irans diplomatic axis. We have reached a framework agreement that allows us to end the conflict with Lebanon. ④ Other situations: 1. US media: Trump and Netanyahu have been communicating much less than before. 2. UAE Foreign Minister praises the efforts of the Lebanese and Israeli governments in reaching a framework agreement. 3. Hezbollah: The Israel-Lebanon framework agreement is invalid; refuses to link Israeli troop withdrawal with Hezbollahs disarmament. 4. French Foreign Ministry: Willing to contribute to the implementation of the framework agreement between Lebanon and Israel. 5. Joint Maritime Information Center: Raises the maritime security threat level in the Strait of Hormuz from "medium" to "high". 6. Following the Iranian Revolutionary Guards strike on vessels violating regulations, more ships are seeking permission from Iran. 7. Security sources say an explosive drone attack struck a camp of an Iranian Kurdish opposition group north of Erbil, Iraq. 8. The Lebanese presidential palace stated that Lebanese President Aoun, in a phone call with US President Trump, said Lebanon would assume responsibility for implementing the framework agreement with Israel. President Aoun has requested US assistance to prevent violations of the agreement and to pressure Israel to withdraw from the southern region.According to Fox News: The latest round of US strikes against Iran is larger than last nights operation. US and Bahraini forces shot down nine Iranian drones that were heading towards US forces in Bahrain.According to the Islamic Republic of Iran Broadcasting (IRIB): Several shells struck a village on Qeshm Island.On June 28, U.S. Central Command issued a statement saying that on June 27, under the command of the Commander-in-Chief, U.S. Central Command forces conducted additional strikes against multiple Iranian targets. Following yesterdays U.S. strikes against Iran in response to its attack on the cargo ship "M/V EverLovely," Iran had an opportunity to uphold the ceasefire agreement, but its forces launched a one-way attack drone strike this morning (4:30 AM ET on Saturday), hitting and destroying the oil tanker "M/T Kiku." The Panamanian-flagged tanker was sailing near the Strait of Hormuz at the time, carrying more than two million barrels of crude oil. Today, U.S. Central Command forces responded to Irans continued attacks on merchant ships, with U.S. warplanes striking Iranian military surveillance facilities, communication systems, air defense sites, drone storage facilities, and mine-laying capabilities. Merchant ships continue to transit the Strait of Hormuz. The U.S. military remains vigilant and ready to respond.June 28 - The United States launched a military strike against Iran on June 27 local time.

BTC Fear & Greed Index Falls into Extreme Fear on Binance Withdrawal

Skylar Shaw

Nov 10, 2022 16:40

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Bitcoin (BTC) fell by 14.20% on Wednesday. BTC finished the day at $15,923 after falling by 9.95% from Tuesday. The day ended with BTC trading below $16,000 for the first time since November 15, 2020, which is notable given that its losing streak had now lasted four sessions.


BTC fell from an early high of $18,600 to a late low of $15,588 while trending downward the entire day. BTC breached the First Major Support Level (S1) at $16,769 during the prolonged sell-off that brought it to a new 2022 low and concluded the day at $15,923.


Before the news came that Binance was abandoning the deal, market anxiety over the FTX liquidity crisis, contagion concern, and the prospect of heightened regulatory scrutiny impacted on BTC and the larger market.


The market's response to FTX's demise and the escalating bankruptcy danger resulted in a greater decoupling from the NASDAQ Composite Index. As risk appetite was put to the test by the midterm elections on Wednesday, the NASDAQ declined by a relatively moderate 2.48%.


As BTC returns to under $16,000, the Fear & Greed Index drops to 22/100.


The Fear & Greed Index dropped from 29/100 to 22/100 this morning. The Index entered the Extreme Fear zone once more after a further BTC sell-off.


The news of Binance bailing out of the deal shook investor confidence after the FTX liquidity crisis. If FTX can't close an alleged $8 billion shortfall, it risks going out of business.


The consequences will be severe for one of the top exchanges and are likely to reduce investor trust for some time. The FTX story will continue to dominate the market in the short term.


In order to support a recovery to 40 and a transition into the neutral zone, the Index would need to stay above sub-20/100. BTC would, however, be at risk of trading below $10,000 if the price dropped below 20/100. In the absence of a bailout for FTX, the slide from 40 on November 6 points to further downside for BTC.