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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.

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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