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On July 27, Japanese Prime Minister Shigeru Ishiba said in an interview with NHK that he plans to stay in office despite growing calls within the ruling party for him to resign after last weeks election defeat. "I will devote myself to the future of the people and the country," he said. He added that he must take responsibility for implementing the recently announced US-Japan trade agreement. Ishiba will speak at a Liberal Democratic Party meeting on Monday. LDP members have been calling for someone to be held accountable for the results of the July 20 Senate election. Former Foreign Minister Toshimitsu Motegi called on the LDP to change its leader on his YouTube channel over the weekend. Several Japanese media reported last week that Ishiba planned to resign, but the latter later denied the news. When NHK asked him if he had wavered in his decision to continue to govern, Ishiba replied "no".Russian Defense Ministry: Russian troops have attacked Ukrainian remote drone control stations. The deployment locations of the Ukrainian Armed Forces in 146 regions have been attacked.On July 27, US President Trump posted a picture on his "real social media" showing former US President Obama driving the white Ford Mustang SUV that former US football star OJ Simpson rode when he fled in the "wife murder case" in 1994, while Trump and Vice President Vance were driving behind to catch up. Vances image was also modified and came from the previously popular "Fat Vance" emoticon package.On July 27, Russian Presidential Press Secretary Dmitry Peskov told reporters that Russian-Ukrainian relations after the special military operation are currently an overly theoretical issue, and the tasks of the special military operation must be completed first. Peskov said that before determining the principles of future interaction between Moscow and Kiev, it is necessary to confirm that the tasks facing the special military operation in the direction of Ukraine have been completed. He said: "First of all, we still have to solve the problem. We need to confirm that the tasks facing the special military operation have been completed." Peskov added that Russia prefers to achieve peace with Ukraine through political and diplomatic means. However, Kiev and its Western allies have rejected all proposals for peace talks, so the special military operation continues.According to Russian media: Kremlin spokesman Peskov said that Russia prefers to resolve the Ukrainian conflict through political and diplomatic means, but Kiev and the West rejected this approach.

Bitcoin Fear & Greed Index Holds Steady as Focus Shifts to US Inflation

Cory Russell

Oct 10, 2022 14:17

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Bitcoin (BTC) increased by 0.13% on Sunday. BTC concluded the week up by 1.98% to $19,444, somewhat correcting a loss of 0.59% from the previous Saturday. Be aware that BTC missed the $20,000 mark for the second time in six sessions.


As the day got off to a negative start, BTC dropped to an early low of $19,326. BTC increased to a high of $19,553 in the late afternoon, avoiding the First Major Support Level (S1) at $19,237. BTC, however, was unable to surpass the First Major Resistance Level (R1) at $19,613, and it dropped back to conclude the day below that level.

 

Investors were able to take a break after four straight sessions in the negative due to a lack of substantive cryptocurrency news headlines. BTC was range-bound over the weekend as a result of a slight increase in bets on a 75 basis point Fed rate hike in December.


The likelihood of a 75-basis point Fed rate increase in November is 76.7%, whereas the likelihood of a 75-basis point increase in December is 24.0%. (October 9). The likelihood of a 75-basis point increase was 0% before to Friday's employment data and Wednesday's ISM Non-Manufacturing PMI.


Correlation with the NASDAQ will probably persist since the cryptocurrency market continues to demonstrate sensitivity to Fed monetary policy. The NASDAQ 100 Mini was down 50.25 points this morning after suffering further severe losses.


The markets will be focusing on the conversations among FOMC members and the IMF/World Bank meetings later today as there are no US economic figures to examine.


After a range-bound session, the Fear & Greed Index remains stable.


The Fear & Greed Index remained constant today at 22/100. Following a four-day BTC losing skid on Sunday, a little BTC gain on Sunday resulted in the Index being unchanged this morning. The worry surrounding the Fed and the state of the economy, however, have kept the Index firmly in the Extreme Fear zone.


Fears of a harsh landing will continue to be a barrier for the cryptocurrency market as market bets for a more hawkish year end climb. US inflation data this week may be instructive.


The Index will need to keep avoiding sub-20/100 for the bulls to justify a change in mood. However, a decline to below 20/100 would indicate a BTC decline to below $18,000.

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