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On September 14, according to Deutsche Presse-Agentur, Andre Tillich, head of Teslas German factory, said that more electric vehicles will be produced than previously planned because "sales data is very ideal." Tillich said that the factory has raised its production plan for the third and fourth quarters, and added that Teslas German factory still expects "positive signals from all markets we supply." However, he did not disclose specific production targets. However, this optimistic statement contrasts with recent sales data. Teslas new car registrations in Germany fell by 39% last month, and the cumulative drop in the first eight months of this year was 56%. In France, Belgium, Denmark and Sweden, Teslas sales in August also fell sharply. Norway is an exception, with registrations increasing by 21% last month and a cumulative increase of 26% so far this year.German Geoscience Research Center GFZ: A 5.71 magnitude earthquake occurred in northeastern India.On September 14th, the Russian Ministry of Defense announced that during the joint military exercises "West-2025," the frigate "Admiral Golovko" launched a Zircon hypersonic missile in the Barents Sea, successfully hitting its target. The Russian side also demonstrated footage of a Su-34 fighter jet taking off and dropping bombs. The exercises, which ran from the 12th to the 16th, were conducted at training grounds in Russia and Belarus, as well as in the waters of the Baltic and Barents Seas.On September 14th, US Secretary of State Rubio began a two-day visit to Israel to discuss the next steps in Gaza and how to address the aftermath of the Israeli militarys attack on Doha, the capital of Qatar, on September 9th, a mediator in the Gaza ceasefire negotiations. Before leaving, he told reporters that the attack had upset US President Trump but would not shake US-Israel relations.Russian Ministry of Defense: Russia shot down 361 Ukrainian drones in one day.

BTC Fear & Greed Index Holds as the NASDAQ Composite Index Falls Again

Skylar Shaw

Nov 04, 2022 16:35

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Bitcoin (BTC) increased by 0.29% on Thursday. BTC finished the day at $20,223, somewhat correcting a loss of 1.63% on Wednesday. Notably, BTC avoided sub-$20,000 for the eighth day in a row while snapping a four-day losing run.


BTC increased to a morning high of $20,404 thanks to a positive start to the day. BTC dropped to a midday low of $20,052 after failing to surpass the First Major Resistance Level (R1) at $20,629 throughout the day. However, BTC returned to $20,356 before easing down, avoiding the First Major Support Level (S1) at $19,900.


US economic statistics supported the price of bitcoin.


The ISM Non-Manufacturing PMI decreased from 56.7 to 54.4 in October. Analysts predict a drop to 55.5.


The Index's sub-components were diverse. The non-manufacturing employment index for ISM dropped from 50.0 to 49.1. The Prices Index, however, increased from 68.7 to 70.7.


The unit labor cost data and other statistics, which were crypto-positive, contained unemployed claims. Initial unemployment claims saw a slight dip from 218k to 217k, while unit labor expenses increased by 3.5% in Q3, down from 8.9% in Q2.


Although the statistics supported cryptocurrency, Fed Chair Powell's statement continued to challenge the willingness of buyers. The markets continued to react to Fed Chair Powell's speech on Wednesday, which contributed to the NASDAQ Composite Index's decline of 1.73% on Thursday.


The US employment data released today will significantly affect the NASDAQ Composite Index and the cryptocurrency market.


The association between BTC and the NASDAQ Composite Index remains due to the cryptocurrency's sensitivity to US economic data and the FED. The NASDAQ 100 Mini was up 0.5 points this morning.

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