EUR/USD 1.14771
0.120%
Gold 4341.38
1.817%
Oil 96.635
-0.867%
USD/JPY 155.965
-0.199%
GBP/USD 1.33553
-0.183%
GBP/JPY 208.302
-0.380%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On September 18th, NBC reported, citing seven current and former U.S. and Western officials, that the Pentagon is assessing a significant reduction in U.S. military deployments in Europe, potentially withdrawing approximately 25,000 troops, roughly one-third of the current U.S. troop presence in the region. The proposed reduction could even extend to a maximum of 40,000 troops. If implemented, this would be the largest adjustment to the U.S. military presence in Europe since the end of the Cold War. Currently, the U.S. has approximately 80,000 troops stationed in Europe, primarily in Germany, Italy, and Spain. The report states that the Pentagon launched a six-month review of its European troop presence in June. European Command Commander Alex Greenkiewicz is expected to submit the assessment to Defense Secretary Hergsays soon, with plans potentially involving reductions in air and naval personnel, ground troops, or adjustments to troop deployment locations. Pentagon officials stated that the review aims to ensure U.S. military deployments align with the "America First" strategy. Some European countries and U.S. lawmakers have expressed concern about the large-scale withdrawal, arguing that it could weaken NATOs deterrent capabilities. Supporters, however, believe the U.S. should reallocate its overseas military resources, assigning more regional defense responsibilities to Europe. The relevant plan has not yet been finalized, and any withdrawal is expected to proceed after the final recommendation is submitted to the president for approval.According to NBC News, the Pentagon is considering withdrawing nearly a third of its U.S. troops from Europe.OpenAI launches a new AI model for law firms.The Dow Jones Industrial Average rose 316.14 points, or 0.61%, to close at 51,778.04 on Thursday, September 17; the S&P 500 rose 85.91 points, or 1.14%, to close at 7,637.72; and the Nasdaq Composite rose 439.87 points, or 1.69%, to close at 26,418.30.On September 18, voting began in the Kamchatka Krai and Chukotka Autonomous Oblast for the election of Russias ninth State Duma (lower house of parliament) at 8:00 a.m. local time. This is the first nationwide parliamentary election held in Russia since the special military operation against Ukraine in 2022.

Bitcoin Completes Consolidation in a Triangle

Jimmy Khan

Oct 19, 2022 15:56

微信截图_20221019141241.png

Market Image

At the time of writing, the price of bitcoin is $19,550, up 1.4% over the previous day. The day before, U.S. stock indexes had taken a significant jump forward, and by the opening of European trade, index futures were consolidating their gains. The demand for crypto assets is supported by a strong stock market background, although overall changes are exceptionally muted.


Since June, the price of bitcoin has moved at the right angle to a triangle formed by a descending resistance line, a horizontal support of $18,800, and a rising support line. Usually, a rise in volatility on the way outside the range solves this problem.


Not sooner than the break of the prior highs at $20.4K or the failure beneath $18K, with the second variation having a higher likelihood, should be watched for confirmation of the break of the long-term consolidation. However, it should be noted that the BTCUSD downturn has lasted about a year, wiping off more than 70% of the high price and making long-term purchasers more interested.


After a modest outflow the week before, CoinShares reports that investments in cryptocurrency funds somewhat increased last week. Total money coming in was $12 million. Investments in Bitcoin rose by $9 million, while those in Ethereum fell by $4 million. $7 million more was invested in funds that support bitcoin shorting. Investor apathy persists; according to CoinShares, flows over the previous five weeks have barely topped 0.05% of assets managed.

News context

The connection between Bitcoin and conventional risk assets may be severed. According to LookIntoBitcoin, this may occur as a result of investors realizing that governments and fiat currencies provide the majority of hazards. According to prior cycles of investor capitulation, the time is right now for tactical BTC purchases.


Rich investors still prefer to invest in digital assets, according to GlobalData's global poll of asset managers. Additionally, they are ready to assume the greatest amount of risk since cryptocurrencies only make up 1.4% of their portfolios.


The local authorities have granted French investment bank Société Générale's subsidiary authorization to store, purchase, trade, and exchange bitcoins.


A new Coincub research claims that in the third quarter of 2022, Germany overtook Switzerland, Australia, the United Arab Emirates, and Singapore to claim the title of nation most conducive to operating a cryptocurrency company. Due to its unfavorable tax laws and hazy crypto regulation, the US dropped from first to seventh rank.

Suggestion