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On September 19th, Zhang Bin, a researcher and deputy director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences, stated at the Tsinghua PBC School of Finance Chief Economist Forum that the main imbalance in my countrys current economy is strong supply and weak demand, a kind of aggregate imbalance. "There are many reasons for insufficient demand, but the most crucial one lies in the weak expectations of business entities; enterprises and residents are hesitant to invest and spend money. Individual behaviors are rational and reasonable, but the cumulative effect of micro-level behaviors creates a negative self-amplifying mechanism, forming a negative cycle," Zhang Bin said. Zhang Bin believes that the key to breaking the demand shortage is first to break the negative cycle. A negative cycle itself is a market failure, requiring strong external forces to break it; the most effective tool is to increase counter-cyclical adjustments.Market news: Bolivia will set a unified diesel price, which will be linked to international oil prices.According to AFP: Police officials say the death toll in the attack on Pakistans police headquarters has risen to 31.On September 19th, the Beijing Municipal Administration for Market Regulation announced that, based on the work deployment of the State Administration for Market Regulation and preliminary investigations, it has initiated investigations into four online hotel and travel booking platform companies for suspected illegal activities. Fliggy issued a statement saying that it attaches great importance to this matter and will actively cooperate with the Beijing Municipal Administration for Market Regulations investigations to fully implement regulatory requirements. Fliggy has always respected and maintained a fair, open, and orderly market environment and will continue to work with all parties in the industry to promote high-quality development of the industry.September 19th - A mudslide occurred near the Shijiagou Tunnel in Zhiliuhe Village, Gesala Township, Yanbian County, Panzhihua City, Sichuan Province in the early hours of the 19th. According to relevant departments, preliminary statistics indicate that five people are currently missing.

BTC Fear & Greed Index Signals Steady Session Despite Bearish Mood

Skylar Shaw

Dec 29, 2022 14:15

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0.97% less bitcoin (BTC) was traded on Wednesday. BTC finished the day at $16,558 after losing 1.33% on Tuesday. Notably, BTC fell below $16,500 for the first time in eight sessions while failing to reach $17,000 for the eighth straight session.


After a rocky morning, BTC increased to a high of $16,797 in the middle of the afternoon before going backward. BTC declined to a late low of $16,444 after falling short of the First Major Resistance Level (R1) at $16,932. At $16,562, BTC breached the First Major Support Level (S1) before closing the day at $16,558.

Recession and the Fed Geopolitics and phobias transacts in NASDAQ and BTC South

Investor mood was negatively impacted by Russia's embargo on oil shipments to nations with price ceilings and China's continued relaxation of COVID-19 restrictions. The possibility of a hard landing is increased by worries that a spike in raw material demand would drive up commodity prices and force the Fed to continue raising interest rates.


A sharp increase in new COVID-19 cases throughout China, however, was equally unfavorable. The possibility of further COVID-19 versions and yet another global border closure increased the pessimistic feeling. Governments are placing restrictions on visitors from China in response to the most recent COVID-19 revelations.


Riskier assets suffered losses of 1.35% and 1.20% on the NASDAQ Index and S&P 500, respectively, as a result of the adverse attitude.


The US economic calendar is quite quiet today. However, curiosity will be piqued by US unemployment claims data. Better-than-expected results would encourage the Fed hawks given the US unemployment rate of 3.7% and the Fed's aggressive interest rate trajectory.


Investors should also keep an eye on any FOMC member discussion and the cryptocurrency news wires. Talk of the hawks would exacerbate the negative feeling. BTC is most likely to follow the NASDAQ Index throughout the afternoon session, barring any significant crypto happenings. This morning, early support came from the NASDAQ mini, which was up 18 points.


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