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Japanese Prime Minister Sanae Takaichi: We will have in-depth discussions on various issues, including next steps, at the Japan-U.S. summit.Bank of Japan Governor Kazuo Ueda: The Bank of Japan will conduct a technical trial on a blockchain-based system to settle transactions using central bank currency in the form of demand deposits.Bank of Japan Governor Kazuo Ueda: In order for the development of a new era of financial ecosystem (characterized by new financial services generated through the integration of AI and blockchain), it is necessary to establish a mechanism to ensure the transparency and authenticity of transactions, especially the security and robustness of payments.Bank of Japan Governor Kazuo Ueda: Looking ahead, blockchain technology has the potential to develop into an infrastructure for transactions and settlements involving various assets and services, including delivery versus payment.On March 3rd, Monica Defend, Head of Investment Research at Amundi, stated in a report that geopolitics is becoming a recurring macroeconomic driver. "We are further entering an environment of controlled disorder, where shocks trigger asset rotation and divergence, rather than a single-direction market movement." She believes that even if a protracted Middle East conflict pushes oil prices above $100 per barrel, demand destruction and the risk of recession will quickly limit price increases. The upward trend in oil prices is a "temporary stagflationary impulse, not a new oil supercycle." She added that energy price volatility, inflation uncertainty, and regional divergence are once again becoming key characteristics of the market.

Bitcoin (BTC) Remains Under Pressure with Fear

Jimmy Khan

Jun 20, 2022 14:25

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Bitcoin (BTC) gained 8.44 percent on Sunday. Bitcoin closed the week down 22.70 percent at $20,553, after a 7.23 percent loss on Saturday.


Bitcoin had a gloomy start to the day, falling to a low of $17,936 before making a rise.


Bitcoin rose to a late high of $20,777, staying clear of the Major Support Levels.


Before relaxing down to $20,550 levels, Bitcoin broke past the First Major Resistance Level at $20,584.

There were no external market factors steering bitcoin's course. With the US markets closed on Monday, dip-buyers provided much-needed assistance.


Despite risk aversion spreading from the US equities markets, investor appetite increased. The NASDAQ dropped 4.78 percent last week, owing to Fed monetary policy and worries of a worldwide recession.


Despite the fact that the trends were in sync, bitcoin's losses had escalated before to Sunday's recovery bounce.


The US markets are closed today in observance of Juneteenth National Independence Day, leaving the NASDAQ Mini in control. Investors should pay attention to any FOMC member discussion later today.

The Bitcoin Fear & Greed Index is Still Bearish

The Bitcoin Fear & Greed Index received some assistance from Sunday's relief surge. The Index increased from 6/100 to 9/100 this morning. Despite the rally, the Index was still stuck in the "Extreme Fear" zone.


The Index fell to 6/100 over the weekend, bringing it below March 2020 levels, when bitcoin was trading below $10,000.


Near-term obstacles include market perceptions of Fed monetary policy and worries of a worldwide recession.


Volatility will likely remain as markets analyze economic data and central bank forward guidance, barring a significant reduction in inflationary pressure.

Bitcoin Price Action (BTC)

BTC was down 2.14 percent to $20,113 at the time of writing.


BTC began the day with a mixed performance, reaching a high of $20,606 before sliding to a low of $20,031.


Early on, BTC did not test the Major Support and Resistance Levels.

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