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On January 5th, Li Qiang, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Premier of the State Council, conducted research in Guangdong Province from January 3rd to 5th. While passing by the Shenzhen-Zhongshan Bridge, Li Qiang listened to a briefing on the projects operation and the planning and construction of the Pearl River Estuary cross-sea channel. He emphasized the need to fully utilize advanced technologies, manage and utilize key transportation routes effectively, ensure safe and smooth operation, and better promote connectivity and coordinated development within the Greater Bay Area. At the Foshan International Land Port, Li Qiang learned in detail about the development and operation of cross-border e-commerce and bonded logistics. He stressed the need to unswervingly expand high-level opening-up, better combine "hard connectivity" of infrastructure with "soft connectivity" of rules and standards, coordinate the construction of major open cooperation platforms for technological innovation, service trade, and industrial development, expand digital trade and green trade, orderly expand independent opening-up in the service sector, actively expand imports, and promote balanced development of imports and exports.On January 5th, Li Qiang, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Premier of the State Council, conducted research in Guangdong Province from January 3rd to 5th. In Foshan City, Li Qiang visited Guangdong Midea Kitchen Appliances Manufacturing Co., Ltd., and toured its digital and intelligent production line. He pointed out that economic development and improved living standards have brought about many new consumer demands. He stressed the need to deeply study these new changes, accelerate the research and development and production of more high-quality products, and promote a virtuous cycle where demand drives supply and supply creates demand.On January 5th, Li Qiang, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Premier of the State Council, conducted research in Guangdong Province from January 3rd to 5th. Li Qiang visited the Shenzhen Shekou Cruise Terminal Helicopter Airport and the Robotics Valley to learn about the development of the low-altitude economy, watched product demonstrations by robotics companies, and inquired in detail about the companies technology transfer and application, and the development of industrial clusters. Li Qiang pointed out that the lifeblood of science and technology lies in its application. He emphasized the need to further improve the industrial ecosystem, cultivate and expand application scenarios, explore effective business models, and promote the rapid iteration and upgrading of new technologies and products such as robots and drones in their expanded applications, so as to better empower various industries and benefit countless households.On January 5th, Li Qiang, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Premier of the State Council, conducted research in Guangdong Province from January 3rd to 5th. In Shenzhen, Li Qiang listened to reports on the planning and development of the Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone, learned about the progress of enterprises in the zone in using artificial intelligence to empower research and development in fields such as new materials and biomedicine, and viewed a display of new energy vehicles from BYD. Li Qiang pointed out that technological innovation is the key to winning the future. He emphasized the need to strengthen the leading role of enterprises in innovation, improve support in terms of policies, funding, and talent, leverage the advantages of the Guangdong-Hong Kong-Macao Greater Bay Area to gather innovation resources, and strengthen research and development cooperation in emerging fields and key core technologies to achieve more breakthroughs.European Commission: The EU respects the legitimacy of Venezuelas democratically elected government.

BTC Fear & Greed Index Maintains Stability Despite Bitcoin's Return to $16,000

Alina Haynes

Nov 23, 2022 15:16

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Bitcoin (BTC) increased by 2.87 percent on Tuesday, snapping a two-day losing run. The risk of FTX contagion diminished as news updates on FTX assets permeated the crypto news wires. Despite Tuesday's market increase, the Fear & Greed Index remained unchanged at 22/100, with contagion risk remaining a constant concern.

 

Bitcoin (BTC) climbed by 2.87% on Tuesday. BTC closed the day at $16,215, partially correcting Monday's 3.15% decline. Notably, Bitcoin dipped below $16,000 for the second session in a row.

 

BTC fell to a midmorning low of $15,616 after a mixed start to the day. BTC reached a high of $16,294 in early afternoon trading, avoiding the First Major Support Level (S1) around $15,400. BTC surpassed the First Major Resistance Level (R1) at $16,218 before retracing its gains to below $16,050. BTC retested R1 after finding late support, before retreating.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts offer spreads as low as 0 pips and a commission rate of $3.50 per 100,000 USD traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

The prospect of FTX contagion continued to dampen investor sentiment on Tuesday after Genesis issued a bankruptcy notice.

 

Nonetheless, market conditions improved by late morning. FTX's $1.24 billion in cash reserves and news of Tron CEO Justin Sun and Ripple CEO Brad Garlinghouse eyeing FTX assets alleviated investor anxiety.

 

The cash reserves and asset sales should mitigate the losses of the top 50 creditors, who are exposed to FTX by $3.1 billion.

 

Nonetheless, notwithstanding the announcement, FTX contagion continues to pose a persistent risk to the broader market. Tuesday, the judge overseeing the FTX bankruptcy proceedings authorized the redaction of client names. The omission may leave investors confused about potential FTX-linked platforms that may have liquidity concerns.

 

On Tuesday, the NASDAQ Composite Index also found support. Demand for risky assets increased as fears of a holiday spending slump subsided. The NASDAQ gained 1.36 percent. This morning, though, the NASDAQ mini was down 23.5 points.

 

Later on today, the US Jobless claims, private sector PMIs, consumer sentiment, core durable goods, and FOMC meeting minutes will garner attention. The statistics and minutes will provide guidance for the cryptocurrency market.