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As of the 2:30 closing bell, the main Shanghai gold futures contract fell 1.11% to 990 yuan/gram, the main Shanghai silver futures contract fell 3.44% to 18,192 yuan/kilogram, and the main SC crude oil futures contract rose 2.40% to 690 yuan/barrel.On May 20th, according to the Wall Street Journal, citing regional mediators and US officials familiar with the terms, Irans position in negotiations with the US to end the war has not changed significantly compared to previous rounds of unsuccessful proposals, raising questions about whether a "way out" of the conflict can be found. The mediators pointed out that Iran continues to insist on its core demands, including ending hostilities, obtaining economic relief, war reparations, and playing a monitoring role in the strategic Strait of Hormuz. Furthermore, significant differences remain with the US on the issue of demanding Iran shut down or permanently suspend its nuclear program. Regional sources say the US and Israel have been preparing for a new round of strikes against Iran in the coming days, with some even suggesting an attack could begin as early as next week.US Vice President Vance: This situation will not last forever, no matter what decision US President Trump makes regarding Iran.On May 20th, according to a report by Axios on May 19th, US President Trump convened a meeting with his national security team on the evening of May 18th to receive a briefing on military action plans against Iran. The report, citing two US officials, stated that the meeting focused on the next steps in the war against Iran, progress in diplomatic negotiations, and possible US military action. This briefing reportedly indicates that Trump is "seriously considering resuming military action against Iran." The report, citing sources familiar with the matter, stated that some proponents of a hardline stance against Iran believe Trump currently "has a desire to deliver a strong blow and force Iran to make concessions in negotiations."The Federal Reserve accepted a total of $12.911 billion from 22 counterparties in its fixed-rate reverse repurchase operations.

BTC Fear & Greed Index Slips to 22 Despite a BTC Run at $20,000

Skylar Shaw

Oct 24, 2022 15:19

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For Bitcoin, Sunday was a positive day. The Fear & Greed Index was not, however, moved into the Fear zone by lowering expectations on a hawkish Fed action in December.


Bitcoin (BTC) increased by 1.90% on Sunday. BTC increased 0.29% on Saturday before rising 1.65% for the week to $19,585. Notably, BTC avoided sub-$19,000 for a second session and fell short of $20,000 for the seventeenth session in a row.


After a negative morning, BTC dropped to a low of $19,086 around midday. Before regaining momentum and reaching a late high of $19,707, BTC breached the First Major Support Level (S1) at $19,136. BTC overcame the major resistance levels for the day to end the week at $19,585. Late support was provided by the Third Major Resistance Level (R3) at $19,515.


Demand for riskier assets was sustained by investors' response to Friday's less aggressive Fed comments. The likelihood of rate increases in November and December was 87.5% and 48.7%, respectively, according to the FedWatch Tool this morning. The probability of a 75-basis point increase in December was 69.8% a week ago.


Interest will be generated by the preliminary October private sector PMIs for the US. Bets on a 75-basis point Fed rate rise in December might be revived by an uptick in service sector activity and employment throughout the private sector.


The NASDAQ 100 Mini was up 112 points this morning, reflecting a positive start to the week.

Fear and Greed Index Drops to 22/100 Although BTC had a bullish session

The Fear & Greed Index decreased from 23 to 22 today. Despite the robust Sunday session for Bitcoin and the larger crypto market, the decline further into the Extreme Fear zone nevertheless occurred.


Although odds of a 75 basis point Fed rate increase in December have decreased, the Ukraine crisis and the Fed's monetary policy continue to produce economic uncertainty. Today's investors will also be put to the test by US economic figures.


However, crypto-friendly statistics ought to encourage a return of the Index to the Fear region.


The Index will need to keep avoiding sub-20/100 for the bulls to justify a change in mood. However, a decline to below 20/100 would indicate a BTC decline to below $18,000.


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