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July 19th - A study released on the 18th by the Italian Confederation of Business, Tourism and Services Businesses indicates that with increasingly frequent extreme weather events, prolonged heatwaves could cause Italy economic losses of €6 billion to €12 billion (approximately RMB 46.5 billion to 93 billion) annually. The report points out that if Italy experiences 30 to 60 days of extreme heat each year, businesses will face multiple pressures, including rising energy costs, decreased labor productivity, forced increases in adaptive investments, and reduced turnover. High temperatures will also alter consumer and tourism habits, further impacting the commerce and tourism sectors.On July 19th, local time, on the evening of July 18th, Iranian Supreme Leader Mojtaba Khamenei stated that the United States repeated violations of the Islamabad Memorandum of Understanding (Iran-US Memorandum of Understanding) once again proved that the signature of the US president was "worthless and invalid." In a statement, Khamenei emphasized that the US actions exposed "bullying, power politics, and barbarity" as integral parts of American behavior and style. He stated that the US "has once again revealed its true and undisguised face. This dark experience filled with evil and treachery has once again become irrefutable evidence of the USs hypocrisy, unreasonableness, breach of trust, and despicable nature. Iran and the resistance have left the US with unforgettable lessons."The UK Maritime Trade Operations Office has received a report of an incident involving a merchant vessel and military forces approximately 100 nautical miles east of Duqm, Oman. The report indicates that the tanker was affected by ongoing military activity in the area.July 19 - The Kuwaiti Fire Department reported that several Kuwaiti firefighters were injured in multiple fires sparked by Iranian attacks. Firefighters brought under control of two fires that broke out this afternoon local time, triggered by the Iranian attacks. In one of the affected areas, several firefighters and an oil industry worker were injured. The area was attacked again during the firefighting operation. Firefighters also extinguished three other fires caused by shrapnel falling into residential areas; these fires did not result in any injuries.Advisor to the Ukrainian Interior Minister: The attacks in Ukraine have reduced Russias oil refining capacity.

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.