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Algerias Remote Sensing Satellite-3B was successfully launched.On January 31st, amidst a sharp drop in gold and silver prices, the Chicago Mercantile Exchange (CME) announced on Friday that it would raise margin requirements for Comex gold and silver futures trading. According to the statement, for non-high-risk accounts, the margin for gold futures will increase from 6% to 8% of the contract value, while for high-risk accounts, the margin will increase from 6.6% to 8.8%. For silver, the margin for non-high-risk accounts will rise from 11% to 15%, and for high-risk accounts from 12.1% to 16.5%. Margin requirements for platinum and palladium futures will also be raised accordingly. These adjustments will take effect after the close of trading next Monday.On January 31st, a research report from CITIC Securities pointed out that the Trump administrations domestic and foreign policies are expected to profoundly impact global markets this year. CITIC Securities believes that one of the Trump administrations core objectives is to push down long-term interest rates through personnel changes at the Federal Reserve and a series of initiatives to boost the traditional economy and support the midterm elections. Success would be beneficial for global stock markets and commodities. However, its foreign policy focuses on domestic affairs and voter demands, and may only have a short-term impact on major asset classes. The extent of the fiscal deficit expansion remains uncertain, which is beneficial for gold and non-ferrous metals. The midterm election results are crucial; although Trump has tried his best to gain an advantage, a Republican defeat would be a short-term negative for risk assets other than US Treasuries.On January 31, the Civil Aviation Administration of China (CAAC) held a video conference on January 30 to deploy the 2026 Spring Festival travel rush work. The meeting focused on studying and implementing the important instructions and directives of General Secretary Xi Jinping on Spring Festival travel rush and work safety, and mobilized and deployed the 2026 civil aviation Spring Festival travel rush work. CAAC Deputy Director Ma Bing attended the meeting and delivered a speech. The meeting emphasized the need to solidify work responsibilities and go all out to ensure the success of all aspects of the Spring Festival travel rush work. It stressed implementing all safety requirements for the end of the year and the beginning of the new year, as well as winter operations, focusing on key safety aspects, strengthening the investigation and rectification of hidden dangers and supervision and inspection, and ensuring aviation safety; providing special Spring Festival services, strengthening support for key groups, handling irregular flights properly, standardizing market prices, and optimizing the passenger travel experience; strengthening market dynamic monitoring and optimizing Spring Festival flight arrangements; ensuring sufficient and capable on-duty personnel, properly handling emergencies, and providing care and support for frontline staff.U.S. Border Affairs Director Homan: My message is consistent with the position that has been in place since President Trump took office on January 20: we will conduct large-scale deportations, but will prioritize arresting criminals and those who threaten public safety.

Is Bitcoin Developing a Reversal Similar to Stocks?

Daniel Rogers

May 30, 2022 16:56

Bitcoin, Alternatives to Bitcoin, and Indicators 

Bitcoin has decreased by 2.5% over the past week, closing near $29,200. Ethereum lost 10.6%, while other prominent altcoins in the top ten plummeted between 1% (Polkadot) and 14.8%. (Solana). According to CoinMarketCap, the entire market capitalization for cryptocurrencies decreased by 2.4% during the past week to $1.26 trillion. The Bitcoin dominance index increased by 1.3 points to 44.9 percent over the same time period due to the first cryptocurrency's improved performance.

 

By Monday, the cryptocurrency fear and greed index had decreased to 10 points. However, this decline does not account for Monday's early-morning market performance. Bitcoin has finished lower for eight consecutive weeks, representing the longest selling streak in the history of the first cryptocurrency. However, the dips over the past two weeks have been fairly tentative.

 

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Analysis of Bitcoin Technical Data

BTCUSD again broke the $30,000 threshold on Monday morning and returned to last week's highs, breaking over the downside resistance line in a robust surge. It is premature to discuss a bullish counteroffensive until Bitcoin breaks above its horizontal resistance line since mid-May, which is $30.6K. Renewed risk appetite on the global markets fuels optimism for a comeback. The dynamics of equities and cryptocurrencies diverged significantly last week, illustrating the crypto market's weakness.

Bitcoin as a Potential Investment

As institutional players have entered the market in recent years and enhanced market liquidity, Dan Held, director of business development at crypto exchange Kraken, feels the current crypto crisis is not as bad as past ones. We would add that, due to the increased crypto market capacity, the bull cycle of 2021 has not witnessed as big of a spike as it did in 2013 and 2017, which explains the relatively low 'winter' losses. Michael Saylor, the CEO of MicroStrategy, stated he will always purchase bitcoin.

 

According to him, Bitcoin is the most stable asset in the current chaotic global economy. Bill Miller, the head of the investment firm Miller Value Partners, referred to bitcoin as an efficient method for gaining access to financial services regardless of military or economic conditions.

 

According to Deutsche Bank, regulation of cryptocurrencies would alleviate the turmoil on the crypto market.