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FAMEEX Daily Highlights | Republicans Secure US House Majority

2022-11-17 15:05:20

Top Trending Crypto News Today

Republicans Secure US House Majority, Will Shift Path for Crypto Bills
Republicans will soon be running the agendas on the House Financial Services Committee – expected to be chaired by Rep. Patrick McHenry (R-N.C.) – and the House Agriculture Committee, where Rep. Glenn Thompson (R-Pa.) is currently the ranking Republican. Those panels will be crucial for future crypto bills.

New FTX CEO Distances Company From SBF
New CEO John J. Ray III used FTX's official Twitter account to re-emphasize the change in leadership at the embattled exchange. Ray apparently doesn't support Bankman-Fried's newfound sense of transparency, as the former leader continues tweeting out apologies and other musings that grab headlines and rile up Crypto Twitter.

Genesis Global halts withdrawals citing 'unprecedented market turmoil'
“We have hired the best advisors in the industry to explore all possible options. Next week, we will deliver a plan for the lending business. We’re working tirelessly to identify the best solutions for the lending business, including among other things, sourcing new liquidity.”

SEC Enforcement Remains Focused on Crypto — Chair Gensler Says He's 'Impressed'
Gensler has often been criticized for his enforcement-centric approach to regulating the crypto industry. Following the collapse of crypto exchange FTX, a growing number of lawmakers have called on the SEC to tighten crypto oversight. The SEC chief said the crypto field is “significantly non-compliant.”

Daily Crypto Market Analysis - Growing and Forecast 

In the past 24 hours, $42.09 Million longs were liquidated and $20.04 Million of shorts orders, net $22.05 Million longs. Among them, the amount of short liquidations has dropped for 3 consecutive days.

The fear/greed index further fell to 20, below the watershed 30, a new low since August, indicating that the market panic has become more intense, and follow-up developments still need to be observed in the short term.

The value of Bitcoin Ahr999 today is 0.3, which is below the bottom line (0.45) and fixed investment line (1.2), indicating that the current long-term trend is a bear market.

Yesterday, the three major US stock indexes all fell slightly. The Dow Jones index was relatively strong, only falling -0.12%, the S&P 500 index fell -0.83%, and the Nasdaq index fell -1.54%. Most cryptocurrencies fell yesterday, BTC fell -0.69%, ETH fell -2.84%, while CHZ was the strongest, leading the rise for 2 consecutive days, up 4.61% yesterday.

The Federal Open Market Committee (FOMC) said yesterday that the Federal Reserve (Fed) should focus on economic goals when raising interest rates and avoid taking financial stability risks into consideration. Monetary policy is not the best tool for addressing financial stability risks, and policymakers should act to increase resilience in markets such as U.S. Treasuries.

Lower-than-normal market liquidity since March 2020 means that liquidity shocks will have a greater impact on prices than usual, potentially triggering a negative cycle between securities sell-offs, high volatility and illiquidity. Bid-ask spreads have widened, though they remain below the extreme levels reached during the chaos caused by the pandemic.

Most of the mainstream currencies fell yesterday, ranging from -5.82% to 4.61%. Among them, MKR was the weakest, down -5.82%, while CHZ was the strongest, leading the rise for 2 consecutive days, up 4.61% yesterday. While BTC fell -0.69%, ETH fell -2.84%.

Looking at ETH in 4-hour candles, the bulls and the bears are battling over 1180 and 1280, but the moving average shows a short position, and then it shows that the current market is slightly better than the short side.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment tips or FAMEEX's official position.

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