BTC Fear & Greed Indicator is pointing to a bullish session despite FTX being nervous

FTX and Sam Bankman-Fried Swamp is the headliner for the Morale Test

After the bullish session on Tuesday, investors were more cautious on Wednesday. The news of SBF being handed over to the US raised concerns, as US lawmakers are likely to dig deeper into the digital asset space. We also expect the regulators to explore the relationship between FTX and Binance.

Last week, news of US authorities’ plans to charge Binance with financial crimes weighed heavily on investor sentiment. The Senate Banking Committee also held a hearing last week to discuss FTX’s decline. Lawmakers have expressed concern about Binance’s dominance in the digital asset space.

The SBF certification could bring Binance back into the limelight and increase regulatory scrutiny.

Bitcoin’s decoupling from the Nasdaq reflected a shift in focus away from US economic indicators and corporate earnings. The Nasdaq rose 1.54% on Wednesday, supported by better-than-expected consumer confidence and positive corporate earnings. Quarterly earnings for Nike (NKE) and FedEx (FDX) provided support.

Today, FTX updates will continue to be a focal point, and US economic indicators are likely to attract interest. If we don’t revise the Q3 GDP numbers, the weekly jobless claims could move the clock. The Nasdaq mini index is up 32.75 points this morning, offering early support.

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