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On June 18th, local time, 36 satellites belonging to Amazons Low Earth Orbit (LEO) satellite program were successfully launched from the Kourou Space Centre in French Guiana on the morning of June 17th. Approximately two hours later, all satellites were successfully deployed into their designated orbits. The launch was carried out by a European Ariane 6 launch vehicle. According to the contract, the Ariane 6 will carry out 18 launches to deploy the Amazon LEO satellites; this was the third launch.On June 18th, OCBC Group Research analysts stated in a report that the Central Bank of Indonesia and the Central Bank of the Philippines are likely to raise interest rates by 25 basis points each later on Thursday. The Federal Reserves decision to maintain interest rates likely indicates that these Southeast Asian central banks believe short-term capital flow volatility will persist, and in this context, their policy decisions will remain primarily driven by inflation and macroeconomic stability factors. OCBC noted that the expected rate hike by the Central Bank of Indonesia will be consistent with its policy objective of preventing further deterioration of market sentiment.On June 18th, Federal Reserve officials hinted on Wednesday that they may soon need to raise interest rates rather than cut them, a sharp shift in thinking against the backdrop of rapidly rising inflation. Krishna Guha, an analyst at Evercore ISI, said that the decline in energy prices could provide some relief in the coming months. However, he warned that the interest rate outlook has decoupled from oil prices, suggesting a deeper uncertainty about whether underlying inflation will cool enough that the Fed will not ultimately have to raise rates. Guha stated that in addition to energy, two other pressures remain: the continued transmission effects of tariffs and the cost spillover from the investment boom in artificial intelligence infrastructure. Claudia Sam, chief economist at New Century Advisors and a former Fed economist, said that she has not yet seen the conditions that would typically prompt the Fed to respond to supply-driven inflation—an overheated labor market or a loss of anchor in inflation expectations. But she acknowledged that the case for action is accumulating. “I can understand the view that the Fed should be prepared to intervene and raise rates if things worsen,” she said. The Fed may act faster than it did during the pandemic when inflation surged because “they are already having this debate.”According to TASS, the local mayor said that drones attacked a Moscow oil refinery.On June 18th, at the opening of the 2026 Hong Kong Auto Show, Geely Remote New Energy Commercial Vehicle and Cao Cao Mobility (02643.HK) reached a strategic cooperation agreement to jointly promote the large-scale deployment of Robovans. According to the plan, by 2030, the two companies will have deployed a total of 100,000 Geely Remote Robovan Prodigy T6 vehicles. Guided by the "One Geely" strategy, the two companies will accelerate the construction of an intelligent logistics network for the AI era through deep collaboration in the operation of new energy commercial vehicles and logistics scenarios, jointly creating a comprehensive green and intelligent transportation new energy ecosystem solution.

BTC Fear & Greed Index Falls to 31 as Investor Focus Shifts to the Fed

Skylar Shaw

Oct 31, 2022 15:42

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Bitcoin (BTC) decreased by 0.89% on Sunday. BTC concluded the week up 5.42% to $20,647, partially undoing a Saturday gain of 1.08%. Notably, BTC avoided trading below $20,000 for the fifth day in a row and ended the day above $20,000 for the sixth straight session.


After a choppy morning, BTC increased to a high of $20,950 in the middle of the trading day. A late low of $20,532 was reached by BTC as it failed to reach the First Major Resistance Level (R1) at $21,091. Before partially regaining its footing to reach $20,647, BTC momentarily breached the First Major Support Level (S1) at $20,576.


In anticipation of a busy week for the global financial markets, investors had a calm day to lock in gains. The Fed announces its decision on interest rates this coming Wednesday. The Fed's intentions for December remain unclear, despite the markets' bets for a 75-basis point rate increase.


The bullish week was fueled by anticipation of a Fed turnaround in December. The markets, however, could see investor concern prior to the Wednesday decision. The sensitivity of the cryptocurrency market to US economic data and the Fed maintains the BTC link with the NASDAQ 100.


The NASDAQ 100 Mini was down 56.75 points this morning, pushing BTC into negative territory.

Investor caution increases ahead of the Fed, causing the Fear & Greed Index to decline.


The Fear & Greed Index dropped from 34/100 to 31/100 this morning. Investor apprehension ahead of the FOMC interest rate decision and press conference on Wednesday is reflected in the decline. A return of the Index to the Neutral area would be supported by confirmation of the Fed's shift in December.


As investors wait for the Fed to announce its policy, US economic statistics will continue to be the major focus in the near term. Prior to Wednesday's decision, important statistics include JOLTs job postings, ADP nonfarm employment, and ISM Manufacturing PMI data.


To support a reversal of the negative trend in BTC, the Index will need to hit 40/100 and the neutral zone. A decline to below 20/100 would indicate a BTC decline to below $18,000.