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July 19th - Currently, with the deepening application of AI intelligent agents across various industries, the usage of tokens has maintained a rapid growth trend. How to further reduce computing power costs has become a key focus for all parties. Industry insiders explained that they are using computing power platforms to coordinate the use of multiple mainstream large-scale models, comprehensively reducing token costs. Simultaneously, they are accelerating the construction of large-scale computing power clusters nationwide. Ultra-large-scale computing power clusters supported by domestically produced computing power chips are seen by the industry as the key to further cost reduction. Furthermore, the implementation of more cutting-edge technologies such as optical chips in the next three to five years is also expected to become another direction for exploring ways to reduce computing power costs. "Compared to electrical chips, the core advantage of optoelectronic chips lies in their lower computational latency and lower power consumption. The cost per token will decrease by 50% or even more."Domestic News: 1. Total box office revenue for 2026 exceeds 20 billion yuan. 2. Thai Prime Minister Anutin arrives in Beijing. 3. Ouyang Weimin, former Deputy Secretary of the Party Committee and President of the China Development Bank, is under investigation. 4. The State Administration for Market Regulation releases the "Guidelines for the Application of Credit Information of Individual Industrial and Commercial Households". 5. The State Flood Control and Drought Relief Headquarters activates a Level IV emergency response for flood control in Guangxi. 6. The winning numbers for Changxin Technologys IPO are released: a total of 7,702,207. 7. Two central state-owned enterprises, China State-owned Assets Supervision and Administration Commission and China Chengtong Holdings Group, announce increased holdings. 8. The World Artificial Intelligence Cooperation Organization will focus on three key areas of work in the future. 9. Alibabas Token Plan Personal Edition is released, and the Qwen 3.8-Max preview version is launched simultaneously. 10. Jingye Steel: Warns the British government to immediately stop its actions of trampling on international investment rules with domestic law. International News: 1. Singapore considers reducing hedge fund tax rates to enhance competitiveness. 2. Ukraine claims Kyiv has suffered the most concentrated ballistic missile attacks since the escalation of the conflict. 3. South Koreas Ministry of Finance: Will allow foreign investors to trade more bonds denominated in Korean won and borrow Korean won from domestic and foreign exchange banks. 4. Middle East Situation—① Iranian media reports that Iran shot down a US drone. ② Iranian military: Two important US military bases in Kuwait were destroyed by drone attacks. ③ US media reports: The US-Iran conflict is escalating, and the Pentagon is accelerating the deployment of F-16 and F-35 fighter jets to the Middle East. ④ Iranian Revolutionary Guard: Two ships sailing in the southern Strait of Hormuz experienced accidents, and two other ships have announced they have abandoned their voyages. ⑤ US Embassy in Jordan: Authorities have evacuated Aqaba International Airport and seaport; Jordanian officials later claimed the US Embassy in Jordan had released false information. ⑥ A desalination and power generation facility in Kuwait was damaged again by the Iranian attack. ⑦ Israeli military claims to have detected Iranian missiles launched towards Aqaba, Jordan, with the attack potentially affecting Israel; Jordanian armed forces claim to have intercepted three Iranian missiles. ⑧ According to Al Jazeera: The Israeli Defense Minister stated that if Iran attacks us, we will retaliate. ⑨ A missile attack occurred near Abadan, Iran; Iran claims the attack was carried out by the US military.July 19th - According to Iranian sources, an explosion was heard in Abadan, Iran. The deputy governor of Khuzestan province, responsible for security affairs, stated that the outer suburbs of Abadan were attacked by missiles that day. Iranian authorities claimed the attack was carried out by the US military. The attack occurred on the outskirts of the citys administrative area, and no casualties have been reported so far. Abadan is a well-known oil city in Iran, located in the oil-producing Khuzestan province.July 19 – U.S. Energy Secretary Frank Wright stated on July 19 local time that U.S. military action against Iran will continue until President Trump achieves his objectives. In an interview, Wright said the Trump administrations goal is to prevent Iran from acquiring nuclear weapons and to weaken its ability to threaten neighboring countries and global business activities. "Therefore, this mission will continue until it is accomplished."US President Trump: Britain has such enormous potential, but it all started with developing North Sea oil.

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.