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On September 20th, the plenary session of the 2026 International Biomedical Industry Innovation Beijing Forum was held in the Beijing Economic-Technological Development Area on September 19th. The forum, themed "Gathering Global Innovation, Exploring the Frontiers of Life," released a number of the citys latest achievements in the pharmaceutical and healthcare industry. At the forum, Beijing announced 12 key projects to be launched in 2026, eight of which are located in the Beijing Economic-Technological Development Area, covering various types including regional headquarters, strategic emerging industry headquarters, and R&D and industrialization bases.September 20th - Parliamentary elections were held in the German states of Berlin and Mecklenburg-Western Pomerania on the 20th. According to German sources, opinion polls indicate that German Chancellor Merz faces "another painful day" following the landslide victory of the far-right Alternative for Germany (AfD) party in Saxony-Anhalt two weeks ago. Merzs Christian Democratic Union (CDU) suffered a crushing defeat in the Saxony-Anhalt state elections on the 6th, with its vote share plummeting to around 17%; the AfD won approximately 44% of the vote, becoming the largest party in the state. In Mecklenburg-Western Pomerania, the CDU may suffer an even greater setback. A poll conducted by German television channel ZDF on the 17th showed that the CDUs support in Mecklenburg-Western Pomerania was only 6%, slightly above the 5% threshold for a party to enter the state parliament. German sources say that if the CDU fails to reach 5% of the vote, it will be a "nightmare" for the CDU and could be the final straw for Merz.On September 20, according to the Ministry of Human Resources and Social Security, the State Council appointed and removed several state personnel. Yu Xiaohui was appointed Vice Minister of Industry and Information Technology; Pan Wenbo was appointed Vice Minister of Agriculture and Rural Affairs; Li Chenggang was appointed Chinas Representative for International Trade Negotiations (at the ministerial level); Ling Ji was appointed Vice Representative for International Trade Negotiations; Cai Dong was appointed Deputy Director of the State Financial Supervision and Administration Bureau; Zhang Yongjun was appointed Deputy Director of the State Internet Information Office; Zhang Xiaotang was appointed Deputy Director of the State Tobacco Monopoly Administration; and Liu Zhen was appointed Deputy Director of the State Administration of Traditional Chinese Medicine. Xu Aosen was removed from his post as Vice Minister of Education; Hu Weilie was removed from his post as Vice Minister of Justice; Niu Yibing was removed from his post as Deputy Director of the State Internet Information Office; and Liao Zhiwei was removed from his post as Director of the Yangtze River Water Resources Commission.Ukrainian President Zelensky: This week alone, Russia has launched more than 2,000 attack drones at us, most of which are jet-powered drones, while also dropping 1,700 aerial bombs and launching 19 missiles of different types.September 20 - According to the Japan Meteorological Agency, a 5.0-magnitude earthquake struck off the coast of Amami Oshima at approximately 4:28 p.m. local time on the 20th. The earthquake had a depth of 60 kilometers and the strongest tremor was felt at an intensity of 3.

Early Support for ETH and BTC, with US Economic Indicators in Focus

Alina Haynes

Nov 03, 2022 19:39

 截屏2022-11-03 下午7.34.53.png

 

Wednesday saw Bitcoin (BTC) and Ethereum (ETH) join the larger market in the red. The NASDAQ Composite Index, Bitcoin, and Ethereum all fell in response to Fed Chair Powell's news conference. Nevertheless, the technical indications continue to be optimistic, indicating upward price trends. On Wednesday, Ethereum (ETH) fell 3.80%. Reversing Tuesday's gain of 0.32%, ETH closed the day at $1,518.

 

After a turbulent morning session, ETH recovered to a high of $1,622 by late afternoon. ETH surpassed the First Major Resistance Level (R1) at $1,606 prior to falling to a late low of $1,506. ETH ended the day below $1,520 after breaking through the First Major Support Level (S1) at $1,556 and the Second Major Support Level (S2) at $1,535.

 

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On Wednesday, the price of bitcoin (BTC) plummeted by 1.63 percent. BTC ended Tuesday at $20,165, a decrease of 0.04% from its opening price.

 

BTC rose to a high of $20,817 in response to the FOMC Statement, following a range-bound morning. BTC surpassed the First Major Resistance Level (R1) at $20,686 before falling to an intraday low of $20,086. BTC went below the First and Second Major Support Levels (S1 and S2) at $20,327 and $20,154, respectively.

 

In accordance with forecasts, the Fed raised rates by 75 basis points on Wednesday. The FOMC Statement hinted at a likely policy move in December, lending credence to December Fed pivot wagers. The Rate Statement pushed BTC and ETH to their daily peaks.

 

However, Fed Chair Powell dashed prospects for a reversal, citing excessive inflation and the need to continue forward. Powell remarked that the "final level of interest rates will be higher than anticipated."

 

As a result, the NASDAQ Composite Index fell 3.36 percent, sending BTC and ETH into the negative.

 

Today, attention will be on US factory orders, jobless claims, and the ISM Non-Manufacturing PMI. We anticipate the PMI and its subcomponents to have the most effect.

 

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 was up 35 points this morning.


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