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On April 11, news circulated that JD.com was testing a new project called "Open Start" in collaboration with DeepBlue Auto, which was suspected to be related to launching a ride-hailing service. In response, JD Auto stated that it is not involved in a ride-hailing business and that "the new project will launch on April 13."On April 11, at the 2026 Intelligent Electric Vehicle Development High-Level Forum, Li Qiang, Vice President of the Public Cloud Business Unit and General Manager of AI Automotive Industry at Alibaba Cloud Intelligence Group, revealed that more than 30 automakers and intelligent driving solution providers are currently conducting intelligent driving research and development on Alibaba Cloud. The actual use of Pingtouges self-developed "Zhenwu" PPU has exceeded 100,000 calories, setting a record for the largest scale of self-developed AI chips used on a public cloud platform in the automotive industry.According to Lighthouse Pro, as of April 11, the total box office revenue (including pre-sales) for April 2026 exceeded 500 million yuan.April 11 – The China (Inner Mongolia) Pilot Free Trade Zone was officially inaugurated on the morning of April 11, bringing the total number of free trade zones in China to 23. The China (Inner Mongolia) Pilot Free Trade Zone covers an area of 119.74 square kilometers, encompassing three areas: Hohhot Area (76.28 square kilometers, including the Hohhot Comprehensive Bonded Zone of 0.88 square kilometers), Manzhouli Area (25.11 square kilometers, including the Manzhouli Comprehensive Bonded Zone of 1.44 square kilometers), and Erenhot Area (18.35 square kilometers).On April 11th, the High-Level Forum on the Development of Intelligent Electric Vehicles (2026) was held. Su Bo, Vice Chairman of the National Manufacturing Power Construction Strategy Advisory Committee and former Vice Minister of the Ministry of Industry and Information Technology, stated that the 15th Five-Year Plan period is crucial for my countrys transformation from a major automobile producer to a leading automobile power. New energy vehicles must shoulder the national mission of building a strong manufacturing nation, a strong science and technology nation, a strong transportation nation, and achieving the "dual-carbon" goals. By 2030, new energy vehicles will become the absolute mainstay of the automobile market, with a domestic penetration rate exceeding 70%. The goal of building a leading new energy vehicle nation is expected to be achieved ahead of schedule by the end of the 15th Five-Year Plan period.

ETH Faces the Risk of Sub-$1,600 on US Stats and Hawkish Fed Chatter

Cory Russell

Mar 03, 2023 14:16

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On Wednesday, Ethereum (ETH) increased by 3.74%. ETH finished the day at $1,665, reversing a loss of 1.71% from Tuesday.


ETH dropped to an early bottom of $1,595 following a negative start to the day. While avoiding the First Significant Support Line (S1) at $1,585, ETH surged to a high of $1,670 in the early afternoon.


ETH quickly passed through the Second Major Resistance Level (R2) at $1,668 before relaxing back to finish the day at $1,665. ETH also broke through the First Major Resistance Level (R1) at $1,636.


Bitcoin (BTC) increased by 2.44% on Wednesday. Bitcoin finished the day at $23,707, reversing a drop of 1.53% from Tuesday. Bitcoin returned to the $24,000 mark for the first time in five days thanks to the positive session.


Bitcoin dropped to an early low of $23,036 after the day got off to a muddled start. Bitcoin climbed past the First Significant Support Line (S1) at $22,934 and reached a peak of $24,009 in the late morning. Before finishing the day at $23,707, Bitcoin momentarily passed through the Second Major Resistance Level (R2) at $23,823 and the First Major Resistance Level (R1) at $23,483.

Chinese economic data and the Shapella upgrade provide support

On Wednesday, the seamless Shapella update and mining influx helped to sustain the price of ETH. However, the Wednesday breakthrough was motivated by the world economic schedule.


On Wednesday, statistics from China provided support for risky commodities. The crucial Caixin Manufacturing PMI increased in February from 49.2 to 51.6. Analysts anticipated an increase to 50.2. An important development was the industrial sector's first expansion since July 2022.


The statistics were strong enough to overpower the impact of NASDAQ Composite Index and US economic data.


The ISM Manufacturing PMI survey's auxiliary variables backed up the more bearish outlook on Fed monetary policy. From 44.5 to 51.3, the ISM Factory Costs Index increased. The NASDAQ Composite Index was impacted by hawkish Fed talk as well. According to reports, Fed moderate Kashkari is willing to raise interest rates by 25 or 50 basis points in March.


Investors reacted negatively this morning to inflation data and bullish talk, sending Bitcoin and ETH into the red.

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