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German Chancellor Merz: Germany will reduce the tax on gasoline and diesel by approximately 17 euro cents per liter. This measure is scheduled to take effect on October 1st and will remain in effect until the end of 2026.On September 19th, Kansas City Federal Reserve President Jeff Schmid stated that the U.S. economy remains strong and continues to grow. Schmid said he agrees with Federal Reserve Chairman Kevin Warshs explanation for the rise in U.S. Treasury yields, namely that the recent increase is primarily driven by capital demand from artificial intelligence investments and geopolitical challenges, rather than solely by monetary policy factors. Schmid also believes that the U.S. Treasurys Treasury repurchase program will not increase the difficulty for the Federal Reserve in implementing monetary policy.Russian President Vladimir Putin: The Ukrainian authorities did not hold elections in their own country, but tried to prevent Russia from holding elections.On September 19, NATOs Supreme Allied Military Commander, U.S. Air Force General Alex Greenkevich, participated in a virtual briefing by the U.S. Department of Defense on Friday regarding an assessment of U.S. troop deployments in Europe. His spokesperson stated that Greenkevich, in his capacity as Commander of U.S. European Command, advised Pentagon policy director Elbridge Colby on the ongoing assessment of U.S. force deployments in Europe. The spokesperson noted that the assessment was conducted against the backdrop of European countries assuming increasing defense responsibilities, while NATO continues to strengthen its alliance and transition towards a "NATO 3.0" phase.September 19th - According to the Washington Post, multiple U.S. officials revealed that the actual number of U.S. military deaths since the start of the conflict with Iran may be higher than the Pentagons publicly released figures. Currently, the Pentagons casualty database shows 18 U.S. military personnel dead, but five informed officials say the actual death toll is at least 22, and another official says it could be 23, with some deaths not listed in the public database. Officials stated that the undisclosed deaths involve U.S. military personnel who died while on missions in the Middle East, but their identities, dates, and causes have not been disclosed. The Pentagon declined to comment on the discrepancies in casualty statistics. The report also stated that since the conflict began on February 28th, more than 820 U.S. military personnel have been injured, many suffering brain injuries as a result of Iranian attacks on U.S. bases.

BTC Fear & Greed Index Holds as the NASDAQ Composite Index Falls Again

Skylar Shaw

Nov 04, 2022 16:35

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Bitcoin (BTC) increased by 0.29% on Thursday. BTC finished the day at $20,223, somewhat correcting a loss of 1.63% on Wednesday. Notably, BTC avoided sub-$20,000 for the eighth day in a row while snapping a four-day losing run.


BTC increased to a morning high of $20,404 thanks to a positive start to the day. BTC dropped to a midday low of $20,052 after failing to surpass the First Major Resistance Level (R1) at $20,629 throughout the day. However, BTC returned to $20,356 before easing down, avoiding the First Major Support Level (S1) at $19,900.


US economic statistics supported the price of bitcoin.


The ISM Non-Manufacturing PMI decreased from 56.7 to 54.4 in October. Analysts predict a drop to 55.5.


The Index's sub-components were diverse. The non-manufacturing employment index for ISM dropped from 50.0 to 49.1. The Prices Index, however, increased from 68.7 to 70.7.


The unit labor cost data and other statistics, which were crypto-positive, contained unemployed claims. Initial unemployment claims saw a slight dip from 218k to 217k, while unit labor expenses increased by 3.5% in Q3, down from 8.9% in Q2.


Although the statistics supported cryptocurrency, Fed Chair Powell's statement continued to challenge the willingness of buyers. The markets continued to react to Fed Chair Powell's speech on Wednesday, which contributed to the NASDAQ Composite Index's decline of 1.73% on Thursday.


The US employment data released today will significantly affect the NASDAQ Composite Index and the cryptocurrency market.


The association between BTC and the NASDAQ Composite Index remains due to the cryptocurrency's sensitivity to US economic data and the FED. The NASDAQ 100 Mini was up 0.5 points this morning.

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