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On March 30, the Kuomintang (KMT) Chairmans Office stated that the Central Committee of the Communist Party of China (CPC) and General Secretary Xi Jinping invited Chairperson Cheng Li-wen to lead a delegation to visit the mainland. Chairperson Cheng expressed her gratitude and gladly accepted the invitation. She expressed hope that both parties would work together to promote the peaceful development of cross-strait relations, enhance cross-strait exchanges and cooperation, seek peace in the Taiwan Strait, and improve the well-being of the people.On March 30, Song Tao, Director of the Taiwan Affairs Office of the Central Committee of the Communist Party of China, stated that since taking office, Kuomintang (KMT) Chairperson Cheng Li-wen has repeatedly expressed her desire to visit the mainland. To promote the peaceful development of relations between the KMT and the Communist Party of China (CPC) and across the Taiwan Strait, Song Tao, authorized by the CPC Central Committee, announced that the CPC Central Committee and General Secretary Xi Jinping welcome and invite Chairperson Cheng Li-wen to lead a KMT delegation to visit Jiangsu, Shanghai, and Beijing from April 7 to 12. Song Tao stated that they will communicate with the KMT regarding Chairperson Cheng Li-wens visit and make appropriate arrangements.March 30th - According to TeslaAIs Weibo account, the TERAFAB project was officially launched, with an expected annual computing power output exceeding 1 terawatt (1TW). Musk predicts that the potential annual production of humanoid robots could reach 1 billion to 10 billion units in the future. As robots enter a larger-scale application phase, the demand for high-performance chips will further increase. TERAFAB will produce chips for Teslas humanoid robots.The UK Business and Trade Secretary said the WTOs failure to reach an agreement on extending the suspension of e-commerce tariffs is a major blow to international trade.Australian Treasurer Charles Chalmers: The fuel consumption tax reduction will take effect on Wednesday.

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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