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February 7th - Gold is experiencing significant volatility, but the market remains strongly confident in the fundamental drivers of the long-term (upward) trend. Nick Cawley, Global Markets Analyst at Salomon Brothers, stated that the current volatility is merely short-term noise. He expects gold prices to break through $5,000 again in the coming weeks and retest the multi-decade high of $5,600 in the second quarter. Market consolidation is healthy, especially after a strong rebound, and the technical outlook remains positive. Tailwinds persist; while the dollar may be strong now, interest rate cuts in the coming months will weaken it, or at least prevent further gains. Rania Gule, Senior Markets Analyst at XS.com, stated that while gold prices may remain below $5,000 per ounce in the short term, a rise to $6,000 by the end of the year is still possible. The market has not yet exhausted its bullish momentum. However, investors have become more discerning and cautious, meaning future gains are likely to be accompanied by more corrections and are more driven by fundamentals than pure momentum or speculation. The precious metals market is currently in a repositioning phase, not a trend reversal.Ukraines Energy Minister: Russia attacked Ukraines energy generation and distribution facilities.Polish air navigation service: To ensure the freedom of movement of military aviation, airports in Rzeszów and Lublin have temporarily suspended operations.February 7th - According to a news release from the Guangdong Provincial Forestry Bureau on the 7th, the Nanyue Green and Beautiful Ecological Investment Fund has been established and officially launched, and is currently steadily advancing the implementation of its first batch of projects. As the first government investment fund in China focusing on the forestry industry, its establishment marks a breakthrough in Guangdongs forestry investment and financing mechanism. It will inject precise and efficient financial momentum into the construction of a green and beautiful Guangdong, accelerate the transformation of "green mountains and clear waters" into "gold and silver mountains," and provide important support for the deep integration of ecological civilization construction and industrial upgrading throughout the province.February 7th - Data from the Comprehensive Transportation Spring Festival Travel Rush Task Force shows that on February 6th, 2026 (the 5th day of the Spring Festival travel rush), the total cross-regional passenger flow reached 211.257 million person-times, a 7.6% increase compared to the previous day and a 1.2% increase compared to the same period in 2025 (Saturday). Specifically, railway passenger volume was 12.845 million person-times, a 9.2% increase compared to the previous day and a 4.5% decrease compared to the same period in 2025. Road passenger flow (including non-commercial passenger car trips on expressways and ordinary national and provincial highways, and commercial passenger transport) reached 195.35 million person-times, a 7.6% increase compared to the previous day and a 1.6% increase compared to the same period in 2025. Of these, commercial passenger transport on highways was 32.96 million person-times, a 5.8% increase compared to the previous day and a 3% increase compared to the same period in 2025; non-commercial passenger car trips on expressways and ordinary national and provincial highways were 162.39 million person-times, an 8% increase compared to the previous day and a 1.3% increase compared to the same period in 2025. Waterway passenger traffic reached 656,000, a decrease of 8.6% month-on-month and a decrease of 4.8% compared to the same period in 2025. Civil aviation passenger traffic reached 2.406 million, an increase of 2.6% month-on-month and an increase of 7.9% compared to the same period in 2025.

Despite Bearish BTC Session, BTC Fear & Greed Index Avoids Sub-30

Daniel Rogers

Nov 08, 2022 16:18

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Bitcoin (BTC) declined by 1.54% on Monday to end the day below $21,000 for the second consecutive session. BTC and the broader market dissociated from the NASDAQ Composite Index, as crypto investors await the US CPI report this week. The Bitcoin Fear & Greed Index decreased from 33/100 to 31/100 as the bearish BTC session weighed on the index.

 

Bitcoin (BTC) decreased by 1.54% on Monday. Sunday's closing BTC price was $20,609, following a 1.79% fall. Notably, Bitcoin closed the day for the second consecutive session below $21,000.

 

BTC reached a day's early high of $21,083 despite a shaky start. BTC reached a late-day low of $20,421 after failing to surpass the First Major Resistance Level (R1) at $21,240. Before partially recovering to $20,609, BTC fell through the First Major Support Level (S1) at $20,762 and the Second Major Support Level (S2) at $20,592.

 

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 beginning at 0 pips and commissions of $3.50 every 100k 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.

 

A lackluster economic calendar in the United States hindered BTC. This week, US inflation, retail sales, and consumer sentiment data will impact market sentiment towards the US economy and a December Fed turn.

 

However, the NASDAQ Composite Index increased by 0.85% on Monday, as optimism surrounding the US midterm elections provided support. Later today, the US economic calendar will feature another day of inactivity, leaving investors in suspense as the attention remains on the midterm elections. The NASDAQ mini was up 15.5 points this morning.

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