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Market news: Colombia has raised benchmark prices for gasoline and diesel.The Russian Foreign Ministry announced it will issue a travel warning, reminding Russian citizens of the risks of traveling to countries that have extradition treaties with the United States.On April 1st, it was reported that on March 31st, the Peoples Bank of China, the Ministry of Science and Technology, the State Financial Regulatory Commission, and the China Securities Regulatory Commission jointly convened a meeting to exchange and promote science and technology finance. The meeting pointed out that the Fourth Plenary Session of the 20th CPC Central Committee, the Central Economic Work Conference, and the 15th Five-Year Plan outline uphold the strategic core position of scientific and technological innovation in national development, clarify the strategic goal of accelerating high-level scientific and technological self-reliance, optimize and adjust the regional layout of international science and technology innovation centers, and put forward clear requirements for building a science and technology finance system adapted to scientific and technological innovation. Relevant departments and institutions should thoroughly study and implement the decisions and deployments of the CPC Central Committee and the State Council, further deepen the supply-side structural reform of finance, improve the diversified financial service system, support international science and technology innovation centers in optimizing the science and technology finance ecosystem, and continuously improve the adaptability of financial service supply to the needs of scientific and technological innovation.On April 1st, it was reported that on March 31st, the Peoples Bank of China, the Ministry of Science and Technology, the State Financial Regulatory Commission, and the China Securities Regulatory Commission jointly convened a meeting to exchange and promote science and technology finance. The meeting emphasized that the "15th Five-Year Plan" period is a crucial period for building a strong science and technology nation, and science and technology finance should provide higher-quality services to support this goal. Relevant departments and institutions should work together to continuously improve the science and technology finance working mechanism and solidly advance all key tasks for the year. They should continue to strengthen coordination and interaction among relevant departments, local governments, and financial institutions, expand information sharing, accelerate the construction of a technology factor market, and improve the efficiency of financial resource allocation. They should enhance the professional capabilities of science and technology finance services and enrich financial products adapted to the characteristics of high-tech fields. They should leverage the role of policies such as relending for technological innovation and technological upgrading, the pilot program for equity investment by financial asset investment companies, M&A loans, and the "technology board" in the bond market to promote more precise allocation of financial resources to the field of technological innovation.The European-Mediterranean Seismological Centre reports a 6.2-magnitude earthquake in northern Peru.

Crypto Market Daily Highlights: BTC Delivered Market Support

Skylar Shaw

Mar 06, 2023 17:01

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The bitcoin top ten had a varied practice on Sunday. XRP, BNB, and ETH suffered, while MATIC topped the list of ten. In spite of the positive session, Bitcoin missed $23,000 for the second day in a row.


On Sunday, there were no crypto-related activities to divert buyers. Dip purchasers were forced to come back from the periphery by the dearth of events. The market, however, remained range-bound and only made moderate gains as a result of investor apprehensions regarding Silvergate Bank and attitudes toward increasing legislative and regulatory surveillance.


Investors now face regulation ambiguity and greater governmental inspection, which was made easier by the reduction in Fed Fear. The G20 is attempting to implement regulation changes to fight unethical crypto practices and reduce the dangers cryptos pose to financial security in response to the fall of FTX, which has given the anti-crypto side of the debate a stronger position.


The cryptocurrency marketplaces will have a hectic week this week. With the "first-ever Senate session centered on the pressing need to clamp down on the increasing environmental effects of crypto mining," Bitcoin mining will be a heated subject on Capitol Hill on Tuesday.


We anticipate learning more about FTX, Silvergate Bank, and Binance. A message to CEO CZ from US legislators last week specifically mentioned Binance. According to the letter, the site helped crooks and sanction evaders receive over $10 billion in funds.


Investors will discreetly hope that Ripple makes excellent headway in the current SEC v. Ripple lawsuit despite the increased monitoring. A win for Ripple might relieve pressure on the cryptocurrency market, especially if the Hinman Papers become public knowledge.


Investor attention will continue to be focused on the Day Ahead Binance, FTX, and Silvergate Bank reports, as well as regulation action and US legislator talk.


Prior to Fed Chief Powell's statement on Tuesday and Wednesday, investors should pay attention to what the FOMC members are saying. A bullish shift would hurt the NASDAQ Composite Index and strengthen the hands of the cryptocurrency investors. This morning, the NASDAQ mini was down 20 points.


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