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July 24th - PMI data showed that U.S. business activity expanded at its fastest pace in eight months, with strong domestic service sector demand offsetting the impact of slowing factory production, increased supply chain delays, and rising costs. The preliminary reading of the S&P Global Services PMI for July rose to 53.6, the highest level since November 2025, driven by demand in the hospitality and other service sectors boosted by the World Cup and July 4th Independence Day celebrations. The preliminary reading of the S&P Global Manufacturing PMI for July fell to 53.8, the lowest level since March. Chris Williamson, chief business economist at S&P Global Market Intelligence, said, "Supply chain delays continued to worsen in July, accompanied by renewed price pressures, constraining economic growth and suppressing demand. Recent events in the Middle East will only further exacerbate concerns about supply chains and prices, increasing downside risks to the near-term economic outlook, suggesting that the recovery in July may not be the beginning of an improving trend."The annualized total number of new home sales in the United States in June will be released in ten minutes.The preliminary reading of the S&P Global Services PMI for July in the United States was 53.6, below the expected 51.5 and the previous reading of 51.2.The preliminary reading of the S&P Global Composite PMI for July in the United States was 53.6, below the expected 51.8 and the previous reading of 51.9.The preliminary readings of the S&P Global Manufacturing and Services PMI for July in the United States will be released in ten minutes.

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.

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