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On March 31, it was reported that the Standing Committees of the Peoples Congresses of Shanghai, Jiangsu, Zhejiang, and Anhui provinces and municipalities respectively passed the "Regulations on Promoting One-Stop Online Government Services in the Yangtze River Delta Region" on March 26, 27, and 31. The regulations for the three provinces and one municipality will come into effect on May 1, 2026. These regulations represent another significant achievement in the collaborative legislation safeguarding the integrated development of the Yangtze River Delta region. They are the first regional collaborative legislation in the field of government services nationwide, and an important piece of legislation for consolidating the achievements of the Yangtze River Delta integration reform, improving governance efficiency, and supporting reform and innovation through the rule of law. With the passage of these regulations, there are now a total of seven fully collaborative legislations for the Yangtze River Delta region.On March 31, local time, the Iranian Islamic Revolutionary Guard Corps (IRGC) issued a statement saying that in the 88th round of Operation True Commitment-4, Iran used missiles such as the Imad, Khorramshahr-4, and Qader to strike targets in central, southern, northern, and core areas of Israel, including Tel Aviv, Beersheba, the Galilee, the Negev, Arad, and the southern Dead Sea region. The statement also targeted the gathering place of Israeli military commanders in Benebelak and the Ternov airbase. The statement further claimed that the IRGC Navy and Aerospace Forces launched a joint operation, using attack drones and missiles to strike hideouts and drone control centers at US airbases Zafra, Victoria, and Ali Salim. The statement asserted that Iran has developed a long-term plan to deplete the strength of Israel and US forces in the region.On March 31, at a meeting to promote the ten-year fishing ban on the Yangtze River, the Ministry of Agriculture and Rural Affairs released the "Bulletin on Aquatic Biological Resources and Habitat Status in the Yangtze River Basin (2025)." The bulletin shows that the overall recovery of aquatic life in the Yangtze River is positive, and the fishing ban has achieved significant results. Since January 1, 2021, a ten-year permanent fishing ban has been implemented in key waters of the Yangtze River Basin. Currently, the recovery trend of aquatic biological resources in the Yangtze River is consolidating and improving, and the level of species diversity continues to rise. From 2021 to 2025, a total of 351 native fish species were monitored in the Yangtze River Basin, an increase of 43 species compared to the period before the fishing ban (2017-2020). The bulletin shows that in 2025, the overall water quality of the Yangtze River and its tributaries will be excellent, with 98.9% of the sections meeting Class I-III water quality standards, an increase of 0.3 percentage points compared to 2024.On March 31st, it was reported that BaWangChaJis total GMV reached 31.58 billion yuan in 2025, a year-on-year increase of 7.2%. Full-year net revenue was 12.91 billion yuan, with adjusted net profit of 1.91 billion yuan. Adjusted net profit for the fourth quarter of 2025 was 100 million yuan, marking 12 consecutive quarters of profitability. In the fourth quarter, BaWangChaJi added 115 stores, including 83 overseas stores, bringing the total number of stores to 7,453.Microsoft (MSFT.O): Has worked constructively with the UK antitrust regulator to reach an agreement on relevant adjustments to the cloud computing market.

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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