IMPORTANT UPDATES:
-The Odds of the Federal Reserve raising interest rates next week surge to 64% after PPI comes in higher than expected.
-FTX founder Sam Bankman-Fried is asking the US Supreme Court to overturn his fraud conviction.
-White House Official Patrick Witt warns Congress is running out of time to pass the Crypto Clarity Act.
-Brent Crude Oil surges 5% to $108, highest level since May.
-Saudi Arabia oil production falls to lowest level in 36 years.
-Senate Republicans release updated version of the crypto Clarity Act following August recess negotiations.
-U.S lawmakers consider requiring "kill switches" to shut down AI systems if they become too dangerous.
-The Odds of the Federal Reserve raising interest rates next week surge to 64% after PPI comes in higher than expected.
-FTX founder Sam Bankman-Fried is asking the US Supreme Court to overturn his fraud conviction.
-White House Official Patrick Witt warns Congress is running out of time to pass the Crypto Clarity Act.
-Brent Crude Oil surges 5% to $108, highest level since May.
-Saudi Arabia oil production falls to lowest level in 36 years.
-Senate Republicans release updated version of the crypto Clarity Act following August recess negotiations.
-U.S lawmakers consider requiring "kill switches" to shut down AI systems if they become too dangerous.
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U.S CPI DATA:
U.S Inflation remains at 3.4%.
Expected: 3.4%
U.S core consumer prices rose 0.3% in August, forecast was 0.2
U.S Inflation remains at 3.4%.
Expected: 3.4%
U.S core consumer prices rose 0.3% in August, forecast was 0.2
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BITCOIN UPDATE:
-Bitcoin has pulled back from $78,000 level due to profit bookings & market uncertainty. As of now BTC is trading around $77,000.
-Major Resistance is at $82k-$83k. Important psychological level is at $80,000.
-Important support levels to watch out is $75,000. If this is broken then Major Technical Support is between $73,000 - $72,000
-If bitcoin reclaims $80,000 and if it breaks $83,000 level then my next target is $90,000.
-If bitcoin breaks down below the $72,000 - $73,000 level, then this will weaken the short-term recovery structure.
-Bitcoin has pulled back from $78,000 level due to profit bookings & market uncertainty. As of now BTC is trading around $77,000.
-Major Resistance is at $82k-$83k. Important psychological level is at $80,000.
-Important support levels to watch out is $75,000. If this is broken then Major Technical Support is between $73,000 - $72,000
-If bitcoin reclaims $80,000 and if it breaks $83,000 level then my next target is $90,000.
-If bitcoin breaks down below the $72,000 - $73,000 level, then this will weaken the short-term recovery structure.
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Crypto Exchange CoinEx to shut down all operations..
After 9 years in the crypto market, ''CoinEx'' has announced it will shut down its operations.
The exchange cited the ongoing market downturn and rising compliance costs. Withdrawals will remain open until Dec 22nd this year.
Another exchange has come to an end, if you have any funds on CoinEx withdraw now..
After 9 years in the crypto market, ''CoinEx'' has announced it will shut down its operations.
The exchange cited the ongoing market downturn and rising compliance costs. Withdrawals will remain open until Dec 22nd this year.
Another exchange has come to an end, if you have any funds on CoinEx withdraw now..
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BREAKING:
The Crypto CLARITY Act has FAILED to pass the U.S. Senate cloture vote.
The bill failed to secure the required 60 votes to advance.
The Crypto CLARITY Act has FAILED to pass the U.S. Senate cloture vote.
The bill failed to secure the required 60 votes to advance.
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FOMC at 11:30 Today
A rate hike is currently being priced in at around 92%
Expect volatility
A rate hike is currently being priced in at around 92%
Expect volatility
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Fed Chair Kevin Warsh says that, The Federal Reserve is not confident inflation is moving toward its target.
"Inflation is too high."
"Inflation is too high."
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SAUDI ARABIA CUTS OIL TO EUROPE:
A blast hit Saudi Arabia’s East-West oil pipeline and now the shock is spreading far beyond the Middle East.
🇸🇦 Saudi Arabia is cancelling some oil shipments to Europe. Europe must scramble for replacement crude.
Oil prices now face fresh upward pressure. And if the disruption continues, a major chunk of global oil supply could be affected.
One pipeline attack.
One supply disruption.
And the price of energy could ripple through the entire global economy.
A blast hit Saudi Arabia’s East-West oil pipeline and now the shock is spreading far beyond the Middle East.
🇸🇦 Saudi Arabia is cancelling some oil shipments to Europe. Europe must scramble for replacement crude.
Oil prices now face fresh upward pressure. And if the disruption continues, a major chunk of global oil supply could be affected.
One pipeline attack.
One supply disruption.
And the price of energy could ripple through the entire global economy.
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