Edfx

Thursday trading insight
As investors keep a close eye on the outcome of the US Midterm Elections, the market mood turns cautious in the early trading hours of the European session on Wednesday. The US Dollar Index recovers modestly while holding below 110.00 following Tuesday's sharp decline and US stock index futures trade in negative territory. September Wholesale Inventories will be the only data featured in the US economic docket and it's not expected to trigger a noticeable reaction ahead of Thursday's key inflation report. The impact of the US Midterm Elections could impact the risk sentiment and drive the currencies' action in the second half of the day.

According to The Associated Press, Republicans currently have 47 seats and Democrats have 46 seats in the Senate. The party with 51 seats, in the end, will have control of the Senate. On the other hand, Democrats have lost 3 House seats and currently have 159, against 190 seats by Republicans. 218 seats are needed to gain the majority in the House

👀Rumors of FTX insolvency are growing.

It got to the point where Sam had to personally reassure everyone. He says:

⏺ The assets are fine;
⏺ FTX has enough resources to handle the withdrawals;
⏺ FTX does not even invest client assets in treasuries;
⏺ Withdrawal delays are due to the slowness of some blockchains and banks;
⏺ FTX has over $1 billion in cash reserves.
⏺ Sam wants to work together with CZ to develop the cryptoecosystem.

✅Situation on the crypto market is neutral. Assets from top-10 are trading at yesterday's levels (except DOGE), while assets from top-100 show diverse dynamics.

🟢Growth leaders: LRC (+24%), OKB (+22%), FTM (+19%).
🟠Down leaders: AR (-14%), DOGE (-11%), XCN (-8%).

is better than gold.
is better than stocks.
is better than real estate.
is better than fiat

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🥇BTC is growing faster than any financial company or bank in history