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Huichang Technology stated on its interactive platform that its Ollobot brand AI interactive terminal products are still in the development and verification stage, and the specific product forms and series plans will be dynamically evaluated and promoted in combination with user and market feedback.On January 21, Hong Kong Financial Secretary Paul Chan Mo-po, speaking at an event related to the World Economic Forum Annual Meeting in Davos, Switzerland, stated that Hong Kong, as an international financial center, adopts a proactive yet prudent approach to developing digital assets. Since 2023, Hong Kong has issued licenses to 11 virtual asset trading platforms and expects to issue stablecoin licenses later this year. Furthermore, the Hong Kong SAR government is leading by example in promoting tokenization, including issuing three tranches of tokenized green bonds totaling approximately US$2.1 billion, and launching a regulatory sandbox to encourage application innovation.On January 21, the Indonesian Attorney Generals Office announced on Wednesday that it will auction off an Iranian-flagged supertanker later this month. The tanker was seized in 2023 on suspicion of involvement in illegal crude oil transshipment. Indonesian authorities stated that the tanker, named "MT Arman 114," is over 300 meters long and was seized in the North Natuna Sea in 2023 on suspicion of transferring oil to another vessel without permission. The Very Large Crude Carrier (VLCC) will be auctioned on January 30, with a starting price of 1.17 trillion Indonesian rupiah (approximately US$69.01 million). Its cargo, including nearly 170,000 tons of light crude oil, will also be auctioned. Iran denied ownership of the tanker in 2023.On January 21, the daily gas supply of the national main natural gas pipeline network managed by the State Pipeline Group reached 1.1 billion cubic meters, setting a new single-day peak supply record. Recently, northern, central-eastern, and southern my country have experienced a sharp drop in temperature, leading to a surge in natural gas demand. As the main operator of the national energy pipeline network, the State Pipeline Group proactively increased its pipeline storage to over 3.6 billion cubic meters, ensuring the high-level operation of its eight self-owned liquefied natural gas (LNG) receiving terminals and laying a solid resource foundation for supply during the cold wave.On January 21st, Daiwa Securities issued a research report re-evaluating its forecast for Tencents (00700.HK) performance last quarter. The report anticipates a slowdown in the groups domestic gaming business due to seasonal factors and a high base effect, while the international gaming business is expected to stabilize after an exceptionally strong third quarter. Furthermore, the report states that recruitment costs for AI talent and GPU leasing will put upward pressure on operating expenses. The report lowered its forecast for the groups gaming revenue for the period due to Tencents overall weak revenue performance last quarter, expecting domestic gaming revenue to reach RMB 37.3 billion, representing a year-on-year increase of 12% but a quarter-on-quarter decrease of 13%. Daiwa lowered its 2026-2027 earnings per share forecast for Tencent by 1-2%, reiterated its "Buy" rating, but lowered its target price from HKD 750 to HKD 725.

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.

 

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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.