EUR/USD 1.14699
0.058%
Gold 4314.41
1.184%
Oil 96.611
-0.891%
USD/JPY 155.797
-0.307%
GBP/USD 1.33825
0.020%
GBP/JPY 208.503
-0.284%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Norwegian gas transportation management company Gassco has significantly increased its forecast for planned gas supply disruptions on September 18-19 from 18 million cubic meters to 55.1 million cubic meters.On September 17th, according to Shanghai Customs statistics, Shanghais total import and export volume reached 3.44 trillion yuan in the first eight months of this year, a year-on-year increase of 17.1%. In August, despite the adverse effects of two typhoons, Shanghais foreign trade continued the growth momentum of the first seven months, with imports and exports increasing by 13.1%, exports by 16.1%, and imports by 10.5%. In the first eight months, Shanghais imports and exports with ASEAN reached 546.2 billion yuan, an increase of 30.6%. ASEAN has remained Shanghais largest trading partner for four consecutive months since May, with imports to Vietnam and Singapore increasing by 78.3% and 31.4% respectively. Imports and exports with South Korea increased by 64.3%, with exports increasing by 1.3 times. In August alone, Shanghais imports from Africa increased by 21.8%, with the zero-tariff policy continuing to benefit the region. During the same period, exports to the United States increased by 13.2%, maintaining a growth trend since April. Looking at key commodities, in the first eight months, the total imports and exports of five AI-related products—integrated circuits, servers, memory, hard drives, and semiconductor manufacturing equipment—increased by 90.7%, accounting for 24.9% of Shanghais total import and export value during the same period. During the same period, exports of the "new three items" increased by 78.2%.Ukraines Ministry of Infrastructure: A Russian drone strike on a Tanzanian-flagged ship bound for a Ukrainian port has killed one person and injured three crew members.ECB Governing Council member Machrouf: The ECB must focus on its 2% medium-term target.The CEO of shipping company Frontline said that Saudi Arabia will likely need to be more involved in the matter after the suspension of the East-West pipeline.

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

Skylar Shaw

Oct 31, 2022 15:42

微信截图_20221031104844.png


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.

Suggestion