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On April 6th, Sky Links Capital CEO Daniel Takieddine stated that golds upside potential may be limited as market expectations for a Federal Reserve rate cut weaken. Strong US labor market data supported US Treasury yields, putting pressure on gold. Continued diplomatic efforts supported market expectations of a potential resolution to the Middle East conflict, further increasing uncertainty surrounding the gold outlook. However, geopolitical risks outside the Middle East and continued gold purchases by central banks are still providing support for gold prices. He pointed out that golds short-term movement will depend on upcoming US economic data, Federal Reserve policy signals, and developments in the geopolitical situation.Goldman Sachs upgraded Netflix (NFLX.O) from Neutral to Buy, raising its price target from $100.00 to $120.00.On April 6th, a signing ceremony for the Hushi Electronics AI chip-supporting high-end printed circuit board (PCB) project was held in Kunshan. The project represents a total investment of 10.1 billion yuan and aims to establish a world-leading high-end PCB production base in Kunshan. Upon completion, the project is expected to generate approximately 15 billion yuan more in annual output value compared to 2025.On April 6, according to the Islamic Republic News Agency (IRNA), Iranian Foreign Ministry spokesman Esmail Bagheei stated that Tehran has finalized its demands in the context of recent proposals to end the war, but will only announce them at an appropriate time, emphasizing that Iran will not succumb to pressure. He stated, "A few days ago, they put forward some proposals through intermediaries, and this 15-point US plan was conveyed through Pakistan and some other friendly countries." He added, "Such proposals are extremely ambitious, unusual, and illogical." He stressed that Iran has its own framework. "Based on our own interests and our considerations, we have compiled and formulated a series of demands that we have put forward in the past and present." He also denied that contact with mediators meant weakness. "The fact that Iran has quickly and bravely expressed its position on a proposal should not be seen as a sign of surrendering to the enemy."A spokesperson for the Iranian Foreign Ministry said on the 6th that Iran is prepared to respond to the mediators and will provide timely updates if necessary.

BTC Fear & Greed Index Avoids Fear But Sends a Bearish Price Signal

Alice Wang

Mar 01, 2023 15:41

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Bitcoin (BTC) decreased by 1.53% on Tuesday. Bitcoin gained 0.03% to $23,142 at the month's conclusion after dropping 0.25% on Monday. Bitcoin fell shy of the $24,000 mark for the fourth day in a row following the negative session.


Bitcoin recovered from a turbulent morning to reach a late-afternoon peak of $23,615. Bitcoin fell to a late low of $23,066 after failing to surpass the First Significant Resistance Level (R1) at $23,885. Before finishing the day at $23,142, Bitcoin momentarily breached the First Significant Support Line (S1) at $23,125 to test support.


Fed anxiety and regulatory activity put Bitcoin on the defensive.


On Tuesday, investor confidence suffered from the NASDAQ Composite Index and the cryptocurrency news channels.


Alarm alarms went off when it was reported that the SEC had subpoenaed Robinhood (HOOD).


Speculation that Visa (V) and Mastercard (MA) might rethink their plans for cryptocurrency was also unfavorable. Bitcoin usage continues to be a major price influencer. Growth and price movement in the cryptocurrency market would be greatly impacted by a change in Main Street trader opinion.


Nevertheless, despite dismal US economic data, Fed Anxiety persisted in dampening investor mood. The CB Consumer Sentiment Index dropped from 106.0 to 102.9 in February, and the property industry statistics were also unfavorable.


Despite the disappointing figures, the US labor market is extremely constrained and inflation is still tenacious, backing a more active interest rate track to bring inflation to goal.


To end a negative month, the NASDAQ Composite Index decreased by 0.10 percent on Tuesday. The NASDAQ mini was down 54.5 points this morning.


There will also be curiosity in the Day Ahead Business Indicators. Prior to the US session, China's private sector PMIs will have an impact. We anticipate that China's poor economic data will rekindle recessionary worries and test investors' desire for risky assets.


The NASDAQ Composite Index and US economic data will have an impact on the midday session. The February US industrial PMI figures will be closely watched. It would be negative if the ISM Manufacturing PMI unexpectedly dropped. However, throughout the day, FOMC member conversation will also affect investor interest.


We anticipate that the bitcoin news networks will keep offering guidance. Buyers should keep an eye on the crypto news channels for discussions among US lawmakers and regulation developments. Updates on Binance and FTX as well as information from the current SEC v. Ripple lawsuit need to be taken into account.

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