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European Council President: The EU remains fully supportive of efforts to reach a fair agreement with the United States.July 12, Mathieu Savary, chief European strategist at BCA RESEARCH: Trumps strategy is to make outrageous demands, then let them fall through, and then once again try to win some last-minute concessions and then reach a trade deal. We remember a framework during Trumps first presidency, and thats whats happening now. It doesnt matter what is said now; what matters is where we will land. It is expected that the EU will eventually "have to accept a 10% tariff, but this is something the EU can actually deal with.The German Industry Association: The trade conflict between the EU and the US damages economic recovery and international trust. It calls on Germany, the EU and the US to seek a solution as soon as possible to avoid escalation.EU spokesperson: The United States notified the EU in advance of a letter regarding the imposition of a 30% tariff on EU goods from August 1.The Dutch Prime Minister said that the US announcement of a 30% tariff on goods imported from the European Union is worrying and is not the right direction for the future.

BTC Fear & Greed Index Remains Neutral Despite SEC Move on BUSD

Jimmy Khan

Feb 14, 2023 16:34

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Bitcoin (BTC) had a 0.11% decline on Monday. On Sunday, BTC lost 0.32% of its value and finished the day at $21,773. BTC finished the day below $22,000 for the seventh straight session.


After a rocky beginning, BTC increased to a high of $21,905 in the middle of the day. BTC declined to a late-afternoon low of $21,354 after failing to surpass the First Major Resistance Level (R1) at $22,039 in the morning. Before closing the day at $21,773, BTC momentarily breached the First Major Support Level (S1) at $21,609 and the Second Major Support Level (S2) at $21,423.


The SEC's action against Paxos and Binance USD caused BTC to decline.


There were no US economic indications to distract investors on Monday. Paxos and Binance USD (BUSD) were the SEC's most recent targets after hearing that Kraken had reached a settlement with the agency and would no longer provide US cryptocurrency staking services.


News of the SEC intending to sue Paxos over the release and listing of Binance USD broke on Monday (BUSD). The company violated investor protection regulations, according to the SEC. In a statement in response to the Wells notice, Paxos said that it is ready to go to court if required. Because BUSD is not a security under federal securities laws, Paxos further indicated that it unequivocally disagrees with the SEC staff.


The SEC's actions against stablecoins and crypto staking will increase investor apprehension and market volatility.


The NASDAQ Composite Index provided support ahead of today's US CPI Report, limiting the downside for bitcoin. The NASDAQ increased by 1.48% on Monday.


Updates from FTX, Genesis, and Silvergate Bank today need attention. However, in addition to any Fed statement, the NASDAQ Composite Index and SEC chitchat will provide guidance. A sudden increase in US inflation and aggressive Fed talk would be bad for bitcoin. After the US CPI Report, FOMC members Logan and Williams will speak.


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