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  • Bitcoin Consolidates Above $120,000 as Fresh Capital Influx Signals Mid-Cycle Adoption Phase

    Bitcoin Consolidates Above $120,000 as Fresh Capital Influx Signals Mid-Cycle Adoption Phase

    Bitcoin holds steady with 1.3% daily gains while technical indicators suggest range-bound trading before potential breakout to $135,000


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    Quick overview

    • Bitcoin is currently consolidating above the $120,000 mark, gaining 1.3% in the last 24 hours.
    • Technical analysis suggests a range-bound trading phase, with key support at $110,530 and resistance between $120,000 and $123,218.
    • Institutional interest remains strong, with significant inflows into Bitcoin ETFs and a notable increase in first-time buyers.
    • Experts believe this consolidation could set the stage for a future price surge, potentially reaching targets of $135,000 to $150,000.

    Bitcoin BTC/USD is still holding strong above the important $120,000 milestone, and in the last 24 hours it has gained 1.3%. As bears maintain the $120,000 barrier zone, the world’s largest cryptocurrency by market cap seems to be entering a consolidation phase. Analysts think this might be a strategic accumulation time before the next big rise.

    Bitcoin Consolidates Above $120,000 as Fresh Capital Influx Signals Mid-Cycle Adoption Phase
    Bitcoin price analysis

    BTC/USD Technical Analysis Points to Range-Bound Trading

    The daily chart tells us a lot about how the Bitcoin market is doing right now. There has been selling pressure every time the price tries to break above $120,000, as shown by the lengthy wicks on recent candlesticks. The fact that this level keeps getting rejected shows that bears are actively protecting it.

    Technical indications are showing that there may be some sideways movement in the near future. The 20-day exponential moving average (EMA) is at $113,528, which is a strong level of support for any retreat that might happen. The 20-EMA has flattened out on the four-hour period, and the Relative Strength Index (RSI) is slightly above the midpoint, both of which suggest that a range may be forming.

    For a long time, analysts think Bitcoin will trade in a range between $115,000 and $123,218. This consolidation phase could be good for the long-term direction of the market because it gives it time to absorb recent gains and set the stage for the next leg up.

    Price Targets and Critical Support Levels

    If bulls can break through the $120,000 to $123,218 resistance zone, Bitcoin might start its next big surge toward $135,729, with a final pattern objective of $150,000. To reach these high goals, there needs to be steady buying pressure and successful defense of important support levels.

    At $110,530, the most important support level is the current bull run’s make-or-break point. If the price drops below this level, it might lead to a bigger pullback toward $105,000, which could change the short-term optimistic picture.

    Traders are looking for a break above $120,064 to confirm that the market is going up right away. This would likely lead to a retest of the all-time high of $123,218.

    BTC/USD

     

    Institutional Momentum Drives Market Confidence

    The basic factors that sustain Bitcoin’s price movement are still strong. On Wednesday alone, US-based Bitcoin exchange-traded funds saw an amazing $799.4 million in inflows, making it the 10th day in a row that institutions have bought them. Investors have put more than $5.2 billion into BTC ETFs since July 2, showing that institutions are still interested.

    Digital asset investment products recently saw their second-largest weekly inflow of $3.7 billion. This brought the total amount of assets under managed to an all-time high of $211 billion. Bitcoin-backed products make up 85% of the global crypto investment product industry, or $179.5 billion.

    Fresh Capital Indicates Renewed FOMO

    On-chain data shows that a lot of new money is coming in, with first-time Bitcoin buyers getting over 140,000 BTC in just two weeks. This means that their holdings went up by 2.86%, from 4.77 million to 4.91 million BTC. This new demand looks like “FOMO” (fear of missing out) behavior is back, which is good for Bitcoin’s latest breakout.

    Mid-Cycle Adoption Signals Long-Term Potential

    Jurrien Timmer, Fidelity’s Director of Global Macro, said that Bitcoin is still in the middle of its acceptance curve, which is similar to how the internet grew in the past. Timmer’s analysis shows that the current price action is not for an asset class that is already full, but for one that is growing. The far high end of the Bitcoin model implies that prices might reach $200,000 to $300,000.

    The number of firms that use BTC is still growing quickly. In the second quarter, 46 public companies added BTC to their balance sheets, bringing the total to 125 companies that hold 847,000 BTC valued almost $91 billion.

    Bitcoin Price Prediction: Patience Before the Next Rally

    Bitcoin’s short-term future may include trading in a range, but the underlying fundamentals show that this consolidation phase is good for long-term growth. The next big price movement is likely to happen because of a steady influx of money from institutions, new interest from retail investors, and more companies using the currency.

    Traders need to keep a careful eye on the $110,530 support level because protecting it will be important for keeping the bullish structure in place. If the price breaks over $120,000, it might swiftly go toward the $135,000 target. However, if it can’t hold critical support levels, it may need to make a bigger drop before trying to reach new highs again.

    Arslan Butt

    Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

    Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.

    His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.

    His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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  • Output of LCVs, vans and jeeps increases 74.60% in FY 2025

    Output of LCVs, vans and jeeps increases 74.60% in FY 2025





    Output of LCVs, vans and jeeps increases 74.60% in FY 2025 – Daily Times


































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  • Honda Koraidon First Showrun during Suzuka 8 Hours

    Honda Koraidon First Showrun during Suzuka 8 Hours

    TOKYO, Japan, July 18, 2025 – Honda will exhibit Honda Koraidon, a future mobility concept, at the 2025 FIM*1 Endurance World Championship “Coca-Cola” Suzuka 8 Hours Endurance Road Race 46th Event*2, to be held from Friday, August 1 to Sunday, August 3 at Suzuka Circuit (Mie Prefecture). On August 1 (Fri) and 2 (Sat), Honda Koraidon will be exhibited at the Honda Racing Gallery (HRG) within the circuit grounds. On August 3 (Sun), Honda Koraidon will make its debut on-road appearance, showcasing its “Sprinting Build” during the pre-race ceremony for the Suzuka 8 Hours race.

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  • Pakistan Senate committee backs local rival to Visa, Mastercard

    Pakistan Senate committee backs local rival to Visa, Mastercard

    ISLAMABAD — Members of an influential Pakistani Senate committee are calling for all debit cards in the country to be issued under the nation’s domestic payment scheme, potentially threatening international peers such as Visa and Mastercard in a key South Asian market.

    The Senate Standing Committee on Finance and Revenue last week urged the country’s central bank to mandate the use of PayPak for all local debit and credit cards.


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  • Govt plans to build Chenab dam amid IWT row

    Govt plans to build Chenab dam amid IWT row

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    ISLAMABAD:

    The International Monetary Fund has rejected Pakistan’s proposal to impose 1% water storage cess on goods to build mega dams and instead suggested to increase the 18% standard sales tax rate for funding any enlarged size of the federal development programme.

    The development came amid an anticipated revision in the cost of the Diamer-Basha dam and needing funds to build a new Chenab dam over the Chenab river, which will require at least additional Rs800 billion, according to the government sources.

    Official sources said that the global lender did not endorse the proposal to impose water storage cess, which the government wanted to introduce on every taxable product produced in the country, except electrical energy and medicines. The cess has been proposed to fund two mega water storage dams and build a new one as a solution to deal with Indian water aggression.

    The development pushes the government in a tight spot, which was willing to increase the tax burden but only in a fashion that would ensure that 100% of the collection stays in the federal kitty instead of being shared with provinces.

    In case of cess, the government will have the full right on the collection while sales tax would become part of the federal divisible pool.

    The government had sought the IMF’s permission to impose the new tax after majority of the provincial governments showed reluctance to finance the early completion of the Diamer-Bhasha dam and the Mohmand Dam. The government had proposed that the provinces should pick half of the Rs716 billion cost of the Benazir Income Support Programme and the Rs358 billion fiscal space will be used to build dams at a faster pace to deal with Indian aggression. The provinces refused.

    The spokesman of Ministry of Finance Qumar Abbasi did not comment on the development.

    The sources said that the IMF has many objections to the water storage cess proposal, including the legal and governance challenges. They added the Fund was of the view that any special levy reduces the flexibility in the budget and the sales tax can give such flexibility.

    Moreover, the IMF was not comfortable with the idea of giving the control of the new cess to the Water and Power Development Authority (Wapda), they added.

    The IMF had earlier asked the government to fund these dams from the Rs1 trillion worth Public Sector Development Programme (PSDP). But the government was not inclined to get more money from the PSDP, which this year was focusing more on the needs of the coalition partners than having mega strategic projects as national priority.

    The sources said that the IMF informed Pakistan that if it wanted to get more money for development spending then it can consider increasing the rate of sales tax.

    The standard sales tax rate is 18% while the government also charges 3% extra sales tax rate in case a good is sold to an unregistered person.

    The government’s earlier decision to increase the petroleum levy rate to give electricity subsidy and fund a road in Balochistan has led to abnormal increase in prices of diesel and petrol since July 1st.

    The landed cost of diesel is Rs177.89 per liter and petrol’s Rs168.73 per liter, excluding all types of margins, rupee depreciation impact and taxes. However, after adding these additional costs, the high-speed diesel price is set at Rs284.35 and petrol at Rs272.15 per liter.

    Seven years ago, the government had approved the Diamer-Bhasha dam at a cost Rs479 billion and Mohmand at Rs310 billion. The sources said that the revised estimates suggest that the Diamer Basha dam cost may skyrocket to over Rs1.1 trillion, an addition of around Rs620 billion. The exact cost will be determined when the Planning Ministry receives the revised documents.

    Even against the original Rs479 billion cost, the government needed Rs365 billion more to complete the work. For this fiscal year, only Rs25 billion has been allocated for the Diamer Basha dam, which is even less than last fiscal year.

    Likewise, the Mohmand dam was approved at a cost of Rs310 billion seven years ago and it still requires a minimum of Rs173 billion more at the old price. Only Rs35.7 billion has been allocated for the new fiscal year.

    Likewise, the government is planning to build a dam on the Chenab river with a cost of about Rs220 billion. This requires an additional Rs800 billion for Chenab dam and Diamer-Basha dam. After adding up the remaining financing requirements, the government needs a total Rs1.35 trillion for just these three dams.

    India has threatened to cut water supplies after it held the Indus Waters Treaty (IWT) in abeyance in violation of the treaty provisions and in the breach of the international law. Islamabad has plainly told India that any such act would be considered as an act of war.

    For this fiscal year, the government has reduced the water sector development budget by 28% to Rs133 billion. Now it wants to offset this by introducing a new tax.

    One of the options is that instead of levying a new 1% cess or increasing GST rate, the government should amend the GIDC law and divert the already collected much over Rs400 billion money towards building dams.

    The Ministry of Water Resources has informed the government that it would take 15 years to complete the Mohmand dam and over 20 years to finish work on the Diamer-Bhasha dam at the current pace of the budget allocations.

    Ahsan Iqbal, the federal minister for Planning and Development has already ruled out creating any further space in the PSDP to fund the large projects.

    The government has held meetings this week in the Planning Ministry and the Prime Minister’s Office to finalize a strategy for funding other projects, which can be completed and to be inaugurated by Prime Minister Shehbaz Sharif this year.

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  • A Comprehensive Analysis and Forecast of Rabies Epidemic and Elimination Challenges — China, 2005–2023

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  • Mapping the Global Antigenic Evolution of Human Influenza A/H3N2 Neuraminidase Based on a Machine Learning Model — 1968–2024


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  • Notified Vector-Borne Diseases — China, 2005–2024



    From 2005 to 2024, China reported a total of 1,129,736 cases of VBDs (annual incidence rate of 4.13 per 100,000), with 6,096 deaths (Table 1). Scrub typhus accounted for the highest number of cases (318,258), followed by malaria (235,033), HFRS (207,850), and dengue (142,422). Tick-borne diseases exhibited the highest cumulative fatality rate (4.33%) during this period. Among individual diseases, plague had the highest case fatality rate (38.33%), followed by Japanese encephalitis (4.9%) and SFTS (4.79%). The mean age of all VBD cases was 43.85 years (SD: 20.04), with tick-borne disease cases having the highest mean age of 61.51 years (SD: 13.66). Males comprised a higher proportion of cases in all disease categories except tick-borne diseases. Across all VBD types, farmers represented a significantly higher proportion of cases compared to individuals in other occupations (Table 2, all P<0.05).









    Disease Cases (No.) Cumulative incidence (per 100,000) Death (No.) Fatality rate (%)
    VBD 1,129,736 82.60 6,096 0.54
    Mosquito-borne disease 416,813 30.47 2,292 0.55
    Dengue 142,422 10.41 14 0.01
    Malaria 235,033 17.18 350 0.15
    Japanese encephalitis 39,303 2.87 1,927 4.90
    Zika virus disease 39 0 0.00
    Filariasis 16 1 6.25
    Tick-borne disease 38,241 2.80 1,656 4.33
    SFTS 34,063 2.49 1,631 4.79
    Tick-borne encephalitis 4,178 0.31 25 0.60
    Rodent-borne diseases 217,579 15.91 2,001 0.92
    HFRS 207,850 15.20 1,806 0.87
    Leptospirosis 9,669 0.71 172 1.78
    Plague 60 23 38.33
    Others 457,103 33.42 147 0.03
    Scrub typhus 318,258 23.27 108 0.03
    Schistosomias 95,093 6.95 14 0.01
    Typhus group rickettsiosis 37,673 2.75 6 0.02
    Leishmaniasis 6,079 0.44 19 0.31
    Abbreviation: VBD=vector-borne disease; No.=number; HFRS=hemorrhagic fever with renal syndrome; SFTS=severe fever with thrombocytopenia syndrome.


    Table 1. 
    The incidence and fatality of VBDs in China from 2005 to 2024.






    Characteristics Mosquito-borne disease Tick-borne disease Rodent-borne diseases Others P
    Age [mean (SD)] 36.24 (20.02) 61.51 (13.66) 45.31 (15.80) 48.61 (19.75) <0.001
    Gender (%)
    Female 152,948 (36.69) 19,385 (50.69) 56,169 (25.82) 224,737 (49.17) <0.001
    Male 263,865 (63.31) 18,856 (49.31) 161,410 (74.18) 232,366 (50.83)
    Occupation (%)
    Children 33,522 (8.04) 71 (0.19) 884 (0.41) 26,912 (5.89) <0.001
    Service industry 25,318 (6.07) 187 (0.49) 4,689 (2.16) 4,240 (0.93)
    Farmer 165,919 (39.81) 29,944 (78.30) 147,420 (67.75) 339,774 (74.33)
    Unemployed 33,686 (8.08) 4,039 (10.56) 16,332 (7.51) 21,626 (4.73)
    Pupil 51,199 (12.28) 157 (0.41) 9,734 (4.47) 22,496 (4.92)
    Staff of public institutions 12,364 (2.97) 323 (0.84) 5,845 (2.69) 6,474 (1.42)
    Others 94,805 (22.75) 3,520 (9.20) 32,675 (15.02) 35,581 (7.78)
    Abbreviation: VBD=vector-borne disease; SD=standard deviation.


    Table 2. 
    The Characteristics of cases with VBDs in China from 2005 to 2024.




    Mosquito-borne diseases, primarily malaria (56.39%) and dengue (34.17%), are predominantly distributed in the southern regions of China (Figure 1). Tick-borne diseases, mainly SFTS (89.07%), are concentrated in Central and Eastern China. Rodent-borne diseases, predominantly HFRS (95.53%), are primarily found in Northeast China and along the middle and lower reaches of the Yangtze and Yellow Rivers. Other vector-borne diseases, chiefly scrub typhus (69.63%), are mainly distributed across Southwest and South China regions. Notably, dengue, scrub typhus, and SFTS have demonstrated annual increases in geographic spread, with reported cases expanding to 10.89, 12.37, and 7.07 more cities each year, respectively (Supplementary Figures S1–S3).









    Figure 1. 

    Spatial distribution of VBDs in China from 2005 to 2024. (A) VBDs; (B) Mosquito-borne diseases; (C) Tick-borne diseases; (D) Rodent-borne disease; (E) Other diseases.

    Abbreviation: VBD=vector-borne disease; No.=number.

    Map approval number: GS京(2025)0996号.





    From 2005 to 2024, the incidence of VBDs in China has exhibited a fluctuating pattern with three distinct peaks occurring in 2006, 2014, and 2024 (P=0.721, Figures 2A and 2C). Mosquito-borne and rodent-borne diseases showed significant declining trends, while tick-borne diseases and other VBDs demonstrated significant increasing trends (all P<0.05). The first two peaks were primarily attributed to outbreaks of malaria and dengue, while the 2024 peak resulted mainly from increased scrub typhus and dengue cases. From 2004 to 2014, malaria and HFRS cases constituted a higher proportion of VBDs in China, whereas from 2014 to 2024, dengue, SFTS, and scrub typhus became more prevalent. Mann-Kendall trend analysis revealed that rodent-borne diseases (HFRS, leptospirosis), malaria, Japanese encephalitis, schistosomiasis, and typhus group rickettsiosis have shown significant declining trends, while SFTS, dengue, and scrub typhus have demonstrated significant increasing trends (all P<0.05). Additionally, VBDs exhibit distinct seasonal distribution patterns (Figure 2B and 2D). HFRS displays bimodal annual incidence peaks, dengue cases peak from June to October, and SFTS cases peak from May to August. Scrub typhus shows a higher proportion of cases from June to November.









    Figure 2. 

    The trends in incidence and seasonal characteristics of VBDs in Mainland China from 2005 to 2024. (A) Annual case distribution (%) of vector-borne diseases by disease; (B) Monthly case distribution (%) of vector-borne diseases by disease; (C) Annual reported cases of VBDs by vector category; (D) Monthly reported cases of vector-borne diseases by vector category.


    Abbreviation: VBD=vector-borne disease; No.=number; HFRS=hemorrhagic fever with renal syndrome; SFTS=severe fever with thrombocytopenia syndrome.



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  • A Case of Psittacosis — Putian City, Fujian Province, China, April 2025



    On April 25, 2025, a case of psittacosis was identified in Putian City, Fujian Province. The patient was a 72-year-old female farmer who developed symptoms on April 1, 2025. Her primary clinical manifestations included cough, expectoration, dizziness, and shortness of breath. On April 3, 2025, the patient’s condition deteriorated and was accompanied by fever peaking at 39.3 °C. She received symptomatic treatment at a county hospital. Due to further deterioration of her condition on April 5, 2025, she was transferred to a municipal hospital and admitted to the Emergency Intensive Care Unit (EICU) with severe pneumonia. During hospitalization, she received anti-infection treatment with doxycycline and moxifloxacin. By April 25, 2025, the patient’s symptoms had improved significantly, and she was subsequently discharged from the hospital.







    The patient had constructed a poultry enclosure adjacent to her newly built residence, housing eight chickens and ducks. She maintained daily contact with these birds without implementing protective measures and had no history of slaughtering poultry. Given her frequent and prolonged exposure to the birds combined with limited travel outside her home, infection through inhalation of aerosolized particles from contaminated poultry excreta represented the most probable transmission route. Notably, despite similar poultry contact, the patient’s family members remained asymptomatic throughout the investigation period.







    Chlamydia psittaci (C. psittaci) was identified in the patient’s alveolar lavage fluid through targeted next-generation sequencing (NGS) testing for respiratory pathogens on April 11, 2025. Concurrently, the major outer membrane protein A (ompA) gene of C. psittaci was detected in both poultry feces and cage wipe specimens using real-time PCR and nested PCR (1). Sequence analysis revealed that the C. psittaci genes detected from the poultry feces and cage wipe specimens were identical to those identified in the patient, demonstrating 100% homology with a strain previously isolated from a patient in Shandong Province (accession number MZ345290) (1).







    Psittacosis is a zoonotic disease caused by C. psittaci (2). Human infection typically occurs through direct contact with infected poultry or birds, as well as exposure to their contaminated feces or secretions (3). An increasing number of psittacosis cases have been documented worldwide (35), highlighting the growing recognition of this pathogen’s clinical significance. Nevertheless, C. psittaci pneumonia accounts for only approximately 1.03% of community-acquired pneumonia cases (6), suggesting that numerous psittacosis infections remain underdiagnosed or misdiagnosed in clinical practice. Consequently, for pneumonia cases of unknown etiology, comprehensive multi-pathogen screening and NGS testing should be systematically employed to improve diagnostic accuracy. A recent 2021–2022 study conducted in Fujian Province identified 74 psittacosis cases through NGS diagnostics (7). However, comprehensive epidemiological investigations and environmental traceability studies for these cases remain notably lacking, representing a significant gap in our understanding of transmission dynamics and environmental reservoirs.







    This report documents the first detection and successful identification of C. psittaci from environmental samples in Putian City, establishing a valuable reference framework for investigating and managing future psittacosis cases. Upon receiving notification from the medical institution, the Public Health Department immediately coordinated with the Agricultural Department to implement comprehensive control measures. These included the safe disposal of all poultry, thorough disinfection of both the patient’s residence and poultry housing facilities, and enhanced surveillance for suspected psittacosis cases throughout the surrounding village. Subsequent investigation revealed that all village poultry were maintained in appropriate housing conditions and displayed no clinical symptoms suggestive of infection.





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  • The Crunch: animal genders; the fall of the US dollar; and how many houses can Australia actually build? |

    The Crunch: animal genders; the fall of the US dollar; and how many houses can Australia actually build? |

    Hello and welcome to another edition of The Crunch!

    In this week’s newsletter we have charts on what makes someone cool, animal genders in children’s books, and a very bad year for the US dollar.

    But first … how many homes can Australia actually build?

    This week it emerged that Treasury has doubts about the Australian government achieving its ambitious target to build 1.2m new homes over five years.

    That is a big number, but how does it compare to what we were likely to have managed anyway? Our latest One Big Chart shows the 1.2m target is significantly more than Australia has managed to build over a five-year period in the past few decades.

    Illustration: Josh Nicholas

    And it’s not just that the target is ambitious – construction data shows we are already falling behind the required rate. This is something we highlighted earlier this year.

    Four charts from the fortnight


    1. A devastating heatwave

    Europe’s “early summer” heatwave has set records across the continent. The Financial Times ($) has put together some truly terrifying maps showing not just the extreme heat, but also low river flows affecting much of the EU.

    Illustration: Steven Bernard/Financial Times

    As many as 2,300 people across 12 European cities died as a result of the June heatwaves, according to reporting from our UK colleagues. Two-thirds of the heat deaths in London were attributable to climate change.


    2. What makes someone cool?

    It’s a question we’ve been asking our whole lives academics have attempted to answer with a series of experiments over a number of years, and in several countries. The study found that many of the traits associated with cool people – such as extroversion and adventurousness – are stable across different countries.

    Illustration: Pezzuti, Warren and Chen/Journal of Experimental Psychology: General

    This is just one of the very nerdy charts you can find in the journal article.


    3. Line goes down

    We’ve featured a couple of US dollar line charts since Donald Trump’s inauguration, but this one from Semafor a couple of weeks back is the cherry on top.

    Illustration: Liz Hoffman/Semafor

    The dollar was already down 7% and on track for its worst year in modern history. Must be tired of all the winning.

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    4. Gendered presumptions

    The Pudding, one of our favourite websites, has an incredible deep dive into animal gender in children’s books. It looks like an absolutely mammoth project, analysing hundreds of books as well as surveying 1,300 people.

    There are wonderful charts like this below – showing only a few animals are consistently gendered female – as well as a searchable interactive.

    Illustration: Melanie Walsh/The Pudding

    “In the children’s books, male animal characters appeared twice as often as female characters. Male pronouns appeared nearly three times as often in the survey results – particularly striking because there were more women respondents.”

    We really encourage you to read (and see) the rest here.

    Spotlight on … climate change and disasters

    Off the Charts

    This piece by Christoph Niemann in the New York Times Magazine is something in between an interactive, an animation and a comic. It’s full of beautiful visual metaphors.

    And while this illustration below refers to the unoriginality of generative AI, it could well be a commentary on many modelling efforts in statistics and data science:

    Illustration: Christoph Niemann/New York Times

    Read the full piece here.

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