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According to the Wall Street Journal, the Houthi rebels have reportedly established joint operations command centers in Lebanon and Iraq.On October 17, the Iranian Islamic Revolutionary Guard Corps Navy issued a statement on social media saying that its "second supertanker" struck a mine in the Strait of Hormuz, resulting in a violent explosion and fire. The statement said the tanker, carrying over 2 million barrels of crude oil, attempted to pass through the Strait of Hormuz with US support after shutting down all navigation and radar systems. Earlier that day, the Iranian Revolutionary Guard Corps Navy had also issued a statement saying that a supertanker had struck a mine in the Strait of Hormuz, resulting in an explosion and fire. The statement also reiterated that "the Strait of Hormuz is closed."The foreign ministers of Egypt and Iran met to discuss the Middle East crisis.On October 17, the International Committee of the Red Cross (ICRC) confirmed that the Houthi rebels in Yemen released 159 people detained in connection with the conflict. The ICRC stated that it was not involved in deciding who or how many people were released. The ICRC remains ready to assist or support the future release, transfer, and repatriation of detainees in connection with the Yemeni conflict, acting as a neutral intermediary, upon request from all parties.On October 17th, Ukrainian President Volodymyr Zelenskyy stated on Saturday that Ukraine is unable to use its interception system to counter Russian drone attacks due to speed limitations imposed by Starlink. He added that Kyiv is discussing the issue with US officials. Zelenskyy stated that Ukrainian officials have been informed that the limitations are related to technical issues. He noted that Ukraine has tested Starlink within the EU without encountering similar problems, and that the Starlink system operates faster there.

BTC Fear & Greed Index Slips to 22 Despite a BTC Run at $20,000

Skylar Shaw

Oct 24, 2022 15:19

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For Bitcoin, Sunday was a positive day. The Fear & Greed Index was not, however, moved into the Fear zone by lowering expectations on a hawkish Fed action in December.


Bitcoin (BTC) increased by 1.90% on Sunday. BTC increased 0.29% on Saturday before rising 1.65% for the week to $19,585. Notably, BTC avoided sub-$19,000 for a second session and fell short of $20,000 for the seventeenth session in a row.


After a negative morning, BTC dropped to a low of $19,086 around midday. Before regaining momentum and reaching a late high of $19,707, BTC breached the First Major Support Level (S1) at $19,136. BTC overcame the major resistance levels for the day to end the week at $19,585. Late support was provided by the Third Major Resistance Level (R3) at $19,515.


Demand for riskier assets was sustained by investors' response to Friday's less aggressive Fed comments. The likelihood of rate increases in November and December was 87.5% and 48.7%, respectively, according to the FedWatch Tool this morning. The probability of a 75-basis point increase in December was 69.8% a week ago.


Interest will be generated by the preliminary October private sector PMIs for the US. Bets on a 75-basis point Fed rate rise in December might be revived by an uptick in service sector activity and employment throughout the private sector.


The NASDAQ 100 Mini was up 112 points this morning, reflecting a positive start to the week.

Fear and Greed Index Drops to 22/100 Although BTC had a bullish session

The Fear & Greed Index decreased from 23 to 22 today. Despite the robust Sunday session for Bitcoin and the larger crypto market, the decline further into the Extreme Fear zone nevertheless occurred.


Although odds of a 75 basis point Fed rate increase in December have decreased, the Ukraine crisis and the Fed's monetary policy continue to produce economic uncertainty. Today's investors will also be put to the test by US economic figures.


However, crypto-friendly statistics ought to encourage a return of the Index to the Fear region.


The Index will need to keep avoiding sub-20/100 for the bulls to justify a change in mood. However, a decline to below 20/100 would indicate a BTC decline to below $18,000.


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