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On November 10th, the Ukrainian State Electricity Company announced that due to Russias continued attacks on Ukrainian energy facilities, most regions of Ukraine will experience 24-hour power rationing on November 10th. The company stated that the rationing will last from midnight to 11:59 PM, and industrial users power consumption will also be limited during the same period. The Ukrainian government also urged the public to conserve electricity during peak hours.On November 10th, Bezoss space company Blue Origin planned to launch its New Glenn rocket from Cape Canaveral, Florida, on Sunday, a key test in the startups path to challenging SpaceXs dominance. The approximately 97.5-meter-tall rocket will carry two spacecraft built by Rocket Lab to Mars. This mission marks New Glenns first mission for NASA. New Glenn successfully completed its maiden flight in January, reaching orbit, but its boosters failed to land. Similar to SpaceXs Falcon series, New Glenn is designed to be partially reusable, with boosters capable of multiple launches, thus reducing costs.On November 10th, New York Federal Reserve President Williams stated that financial pressures faced by low- and middle-income Americans could threaten the resilience of the U.S. economy, even as wealthier families benefit from the stock market boom. In an interview, Williams said the Feds December interest rate decision "will be a balancing act." He noted, "Inflation remains high and shows no signs of declining," but the U.S. economy "still exhibits a degree of resilience." Nevertheless, many Americans are still struggling with housing and living costs. There are signs that "low- and middle-income families are facing some constraints in terms of affordability," posing a risk to consumer confidence and spending. Williams also rejected calls to modify the Feds benchmark interest rate mechanism, stating that expectations of productivity gains driven by artificial intelligence are supporting the market, but he is concerned about potential over-investment and a stock market bubble.On November 10th, Russian Presidential Press Secretary Dmitry Peskov stated on the 9th that US President Donald Trumps recent announcement of plans to resume nuclear testing gave the impression that the US intended to begin nuclear testing in the near future. Russia needs clarification on this. Peskov said that Russian President Vladimir Putin has not ordered the immediate commencement of preparations for nuclear testing, and if any other country violates the nuclear testing ban, Russia will be forced to take reciprocal measures to maintain strategic balance.On November 10th, it was reported that on November 9th local time, U.S. Senate Majority Leader John Thune stated that a potential agreement to end the government shutdown was "progressing." However, Thune also noted that an agreement was not guaranteed, as senators needed time to read the proposal and it could take several hours before concrete action could be taken.

BTC Fear & Greed Index Falls to Sub-30 as BTC Returns to Below $17,000

Daniel Rogers

Nov 09, 2022 17:42

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On Tuesday, the price of bitcoin (BTC) fell to its lowest level since November 2020 before somewhat recovering to $18,559 by the end of the day. The news that FTX was experiencing liquidity issues, the eventual demise of FTT, and the Binance purchase announcement caused BTC to go below $19,000. The Bitcoin Fear & Greed Index decreased from 31/100 to 29/100, after BTC dropped below $17,000.

 

On Tuesday, bitcoin (BTC) fell by 9.95 percent. BTC concluded the day at $18,559, following a 1.54% fall on Monday. Notably, BTC's losing streak extended to three sessions as it fell below $17,000 for the first time since November 2020.

 

After a gloomy morning, Bitcoin reached a high of $20,712 in the late afternoon. BTC fell to a late low of $16,950 after failing to breach the First Major Resistance Level (R1) at $20,988. BTC went below the Major Support Levels for the day. BTC failed to move back through the Third Major Support Level (S3) at $19,380, despite a minor recovery to $18,559 at the conclusion of the day.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts offer spreads beginning at 0 pips and commissions of $3.50 every 100k traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

The gloomy session was spurred by FTX vs. Binance news updates. However, market conditions deteriorated as a result of the announcement that FTX was suffering a liquidity crisis, sparking fears of contagion. While announcements of Binance's planned acquisition of FTX offered some solace, fears of contagion and the threat of more regulatory scrutiny pushed BTC further into the red.

 

In contrast, the NASDAQ Composite Index increased by 0.49 percent on Tuesday, as optimism surrounding the US midterm elections provided support. BTC will likely remain decoupled from the NASDAQ until the full amount of the damage is determined following the failure of FTX. The NASDAQ mini was up 15.5 points this morning.


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