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May 20th - According to Israeli sources on the evening of May 19th local time, despite US President Trumps announcement the previous day to cancel attacks on Iran, Israeli officials assessed that evening that Trump still favored resuming military action against Iran. Furthermore, Israeli sources also stated that joint preparations between Israel and the US for resuming military action against Iran have been completed and are currently awaiting Trumps decision.Citigroup: If the Strait of Hormuz remains closed in early 2027, the oil shock of the 1970s could be repeated.Citigroup: The outlook for oil in 2027 is extremely difficult to predict, but the median forecast is $80-90 per barrel.Citigroup still believes that the oil market is under-pricing "duration risk" and "tail risk".On May 20th, US Vice President Vance stated at a White House press briefing on May 19th that direct negotiations between the US and Iran had made "significant progress" in establishing communication channels and advancing the diplomatic process, but he declined to disclose the specific details of the current behind-the-scenes consultations. Vance stated that the US is still engaged in extensive "back and forth communication" with Iran, and that the negotiations are "making good progress." Vance revealed that he, along with Trumps son-in-law Jared Kushner and Special Envoy Witkov, had previously held lengthy contacts with Iranian officials, primarily with two objectives: first, to rebuild the long-interrupted direct communication channels between the two countries; and second, to lay the foundation for subsequent formal negotiations. He said that the negotiating team was not "very confident" at the time that an agreement could be reached quickly, but believed they could "take an important step towards an agreement," and that this goal has now been achieved.

Bitcoin Failed to Gain Traction – Needs Confirmation

Cory Russell

Oct 25, 2022 15:38

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Over the last week, bitcoin gained 0.9%, ending close to $19.5K. This rise was considerably aided by the markets' turn to growth on Friday afternoon and the brutal beating they received on Sunday. The impact of the latter, however, has almost entirely disappeared.


When it attempts to go higher early on Monday, the 50-day moving average, which is still acting as a barrier, starts a fresh selling wave. We still need confirmation of the upward departure, but the price surge on Sunday officially sent the quotation outside the triangle. A consolidation above the prior highs around $19.6K, which has not occurred so far, would serve as a confirmation indication.


To $1330, Ethereum increased by 1.5%. From a 5.1% fall (Solana) to a 1.2% growth, other top cryptocurrencies from the top 10 displayed a range of behaviors (Dogecoin).


According to CoinMarketCap, the total value of the cryptocurrency market increased by 0.9% week over week to $933 billion. The Extreme Fear reading on the Cryptocurrency Fear and Greed Index remained at 23 during the course of the week.


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