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On August 28th, the National Development and Reform Commission (NDRC) held a press conference. A spokesperson stated that, as of now, the national electricity load during this years peak summer season has reached four record highs, peaking at 1.557 billion kilowatts, an increase of approximately 50 million kilowatts compared to last years record. NDRC spokesperson Li Chao stated that the NDRC will closely monitor and dynamically track changes in the situation, promptly handle any emergencies, and ensure the successful completion of this years energy supply guarantee task for the peak summer season. Simultaneously, based on previous work, the NDRC will conduct in-depth analysis of this years energy supply and demand situation for the heating season, organize and carry out various preparations early, and solidly carry out all work related to energy supply guarantee for the peak winter season, making every effort to ensure that the people stay warm during the winter.According to the Palestinian Sama News Agency, Israeli Prime Minister Netanyahu has authorized the head of Israels National Security Agency, Ronan Bar, to contact Hamas leaders abroad directly without intermediaries.On August 28th, the National Health Commission released the "Statistical Bulletin on the Development of my countrys Health and Wellness Undertakings in 2025." The bulletin shows that the total amount of health resources continued to grow steadily. At the end of 2025, the total number of medical and health institutions nationwide was 1,108,335, an increase of 14,784 from the previous year, including 38,159 hospitals, a decrease of 551 from the previous year. At the end of 2025, there were 13.455 million health technicians, an increase of 435,000 from the previous year (a growth of 3.3%), including 8.1 million hospital health technicians. In 2025, there were 3.78 licensed (assistant) physicians per 1,000 people, 3.25 licensed physicians per 1,000 people, 4.32 registered nurses per 1,000 people, and 4.91 general practitioners per 10,000 people.Melius Research: Raises target price for MRVL.O (MRVL.O) from $325 to $350.Piper Jaffray: Raises its price target for Workday from $145 to $190.

ETH and BTC Price Movement Determined by US Statistics and the NASDAQ

Daniel Rogers

Nov 04, 2022 17:36

截屏2022-11-04 上午11.21.34.png 

 

On Thursday, Bitcoin (BTC) and Ethereum (ETH) joined the larger market in the green. Despite Fed Chair Powell's hawkish speech on Wednesday, US economic indicators fell short of forecasts, alleviating Fed concern. The technical indications continue to be optimistic, indicating rising price movements. The price of Ethereum (ETH) increased by 0.86 percent on Thursday. ETH finished the day at $1,531, partially correcting a 3.80% drop from Wednesday.

 

Due to a rocky start to the day, ETH fell to a low of $1,515 early on. Avoiding the First Major Support Level (S1) at $1,475, ETH climbed to a morning high of $1,559. However, after falling short of the First Major Resistance Level (R1) at $1,593, ETH plummeted further below $1,530 before US economic indicators provided support.

 

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.

 

Bitcoin (BTC) climbed by 0.29% on Thursday. BTC concluded the day at $20,223, partially reversing a loss of 1.63% from Wednesday. Notably, BTC broke a four-day losing trend by avoiding sub-$20,000 territory for the ninth consecutive day.

 

BTC reached a mid-morning high of $20,404 after a strong start to the day. BTC plummeted to a midday low of $20,052 after failing to surpass the First Major Resistance Level (R1) at $20,629 during the trading session. Despite avoiding the First Major Support Level (S1) at $19,900, BTC retested $20,356 before retreating.

 

US economic figures supported cryptocurrency prices, with the crucial ISM Non-Manufacturing PMI below expectations.

 

The ISM Non-Manufacturing PMI decreased from 56.7 to 54.4 in October. Economists anticipate a drop to 55.5.

 

The subcomponents of the Index were diverse. ISM's Non-Manufacturing Employment Index decreased from 53.0 to 49.1. The Prices Index increased from 68.7 to 70.7. The unit labor costs increased by 3.5% in Q3 compared to 8.9% in Q2.

 

While the statistics were favorable for cryptocurrencies, Fed Chair Powell's recent comments weighed on the NASDAQ Composite Index. The NASDAQ Composite Index declined by 1.73 percent on Thursday.

 

The US jobs report will have a significant impact on the NASDAQ Composite Index and the cryptocurrency market today. Due to the sensitivity of BTC and ETH to US economic statistics and the FED, the correlation with the NASDAQ Composite Index remains intact. The NASDAQ 100 Mini gained 17.75 points this morning.


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