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On August 30th, according to multiple foreign media reports, a recent research report on the AI industry released by Barclays Bank in the UK pointed out that for every $100 in revenue earned by AI model companies, approximately $35 to $40 flows to the three major cloud giants—Amazon Web Services (AWS), Microsofts Azure cloud service platform, and Google Cloud Platform (GCP)—in the form of inference computing power fees. Cloud service providers can obtain approximately $10 to $20 in operating profit from this, corresponding to an operating profit margin as high as 35% to 45%. Meanwhile, the profit margin of AI labs paid inference business has risen significantly, from a low double-digit level in 2025 to 50% to 65% or even higher in 2026, with adjusted gross margins increasing by 30 to 50 percentage points year-on-year. Barclays analysts believe that the actual profit margin may be higher than the reports estimates, but as competition in cutting-edge models intensifies and computing power supply continues to increase, profit margins are expected to gradually decline.NASA’s next-generation flagship space observation platform, the Nancy Grace Roman Space Telescope, was launched from Florida aboard a SpaceX Falcon Heavy rocket.On August 30, a ferry carrying approximately 270 passengers capsized in Cyprus. The extent of casualties is currently unknown.August 30 - The Lebanese National News Agency reported that Israeli forces dropped flares over the Aita Jbeil forest in the Bint Jbeil region of southern Lebanon this morning, causing a fire.Market news: A passenger ship carrying approximately 270 people sank off the coast of northern Cyprus, and search and rescue operations are underway.

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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