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May 16th - The meeting between the Chinese and US leaders has drawn significant global attention. International figures expressed their expectation that, under the strategic guidance of head-of-state diplomacy, China and the US will forge a new path for proper relations between major powers in the new era, jointly creating a bright future for bilateral relations while bringing more stability and certainty to a world fraught with uncertainty. William Jones, former White House correspondent for the US magazine *Global Strategy Information*, stated that as the most important bilateral relationship in the world today, the smooth progress of the US-China relationship depends on the two leaders ability to "see the direction, grasp the overall situation, and stabilize the course." He emphasized that effective dialogue and communication are especially crucial at critical moments. "This meeting has drawn a clear roadmap for the future development of bilateral relations, once again demonstrating the stabilizing force of head-of-state diplomacy in US-China relations."On May 16, Iraqs newly appointed Oil Minister, Bassim Mohammed, stated at a press conference that Iraq exported 10 million barrels of oil via the Strait of Hormuz in April. Mohammed indicated that Iraq plans to engage in discussions with OPEC to increase the countrys crude oil production and export capacity, adding that Baghdads goal is to increase crude oil production capacity to 5 million barrels per day.Iraqs oil minister said Iraq is seeking discussions with OPEC to increase its crude oil production and export capacity, and hopes to increase production capacity to 5 million barrels per day.On May 16th, it was reported that on May 15th, 2026, Nvidia CEO Jensen Huang ordered a "Peach Four Seasons Spring" drink at a Mixue Ice Cream store in Nanluoguxiang, Beijing, sparking attention. A Mixue Ice Cream staff member responded that after the "Celebrity Endorsement" feature was launched on their mini-program, sales of the Peach Four Seasons Spring drink increased by nearly 140% compared to the previous day and by over 90% compared to the previous Friday. At the Nanluoguxiang store visited by Huang, sales of the Peach Four Seasons Spring drink increased by over 90% compared to the previous day.Iraqi Oil Minister: We exported 10 million barrels of oil through the Strait of Hormuz in April.

Cryptoverse: Big investors edge back to bitcoin

Cory Russell

Feb 01, 2023 15:15

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After a banner month for bitcoin, large investors are putting their toes back into the cryptocurrency seas.


According to statistics from asset management CoinShares, institutional investors, who often prefer digital asset investment products, witnessed inflows of almost $117 million last week, the largest weekly rise since last July.


With funds tracking it accounting for $116 million of that, Bitcoin was by far the greatest attraction. Total assets managed by cryptocurrency funds have increased to $28 billion, up 43% from lows seen in November when the FTX exchange collapsed and rocked the sector.


The majority of individuals have greater confidence now than they had a month ago, according to Enigma Securities financial advisor Joseph Edwards.


The first cryptocurrency, Bitcoin, has increased by about 40% in January and is on pace to have its greatest month since October 2021 and second-best January in the last ten years.


Some investors are hopeful that the protracted crypto winter may finally be nearing spring as a result of the surge and a potentially improving macro picture. The U.S. Federal Reserve is expected to raise its benchmark rates by 0.25% this week, the lowest increase since their tightening cycle started last year, according to many investors.


As the inflation-focused rate-hiking cycle comes to an end, long-term interest rates might decline if peak inflation is actually behind us for the time being, according to analysts at Fidelity Digital Assets.

"This might indicate favorable macro momentum for assets like bitcoin."


According to cryptocurrency liquidity provider B2C2, activity in the options market showed traders were rushing to put bets immediately after the Fed meeting, a measure of the significance the market is placing on it.


According to CoinShares, the average weekly volume of cryptocurrency trading has increased by 11%, signaling a rebound in activity following many months of sluggish trading.


However, cryptocurrency is far from out of the woods, and if the Fed adopts a more alarmist stance this week, it may still ruin the fun.


The bitcoin Fear & Greed index of cryptocurrency analytics platform Coinglass, where 0 represents severe fear and 100 represents extreme greed, is now sitting at 61, the highest level since mid-November 2021, just after bitcoin started to decline from its peak.


Next week or two, Edwards said, "we could see a drop off, but how deep that dip goes is debatable."


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