Analysis: Bitcoin seller selling pressure has hit bear market extreme levels; a bottoming is in sight, but a market reversal still requires fresh demand.

According to Fox News, U.S. Senate Republican Leader John Thune plans to run for Senate Minority Leader. Additionally, with the Democrats securing control of both congressional chambers in the midterm elections, U.S. House Speaker Mike Johnson, a Republican, noted that over the past 90 years, there have only been two instances where a sitting president added or retained seats for their party in the first two years of their term. If Democrats turn the next two years into a farce of retaliation, legal battles and partisan power plays that harms all Americans, House Republicans will serve as a "firewall" to prevent that from happening.

According to Politico, two-thirds of Democratic voters want the U.S. House of Representatives to block President Donald Trump’s policy agenda rather than compromise with him. Following the Democrats’ major election victory, Trump said he was willing to cooperate with the Democrats in the next congressional term. However, Democratic leaders have signaled they will not easily overlook the actions of the Trump administration over the past year. The Politico poll also shows a similar attitude among Democratic midterm election voters: 65% believe the House should prioritize opposing Trump’s policy agenda, even if that means sacrificing opportunities to advance legislation. Starting next January, the Democrats will face pressure to deliver on policy outcomes, but they must strike a balance between addressing cost-of-living issues and advancing a tough oversight agenda.

Beating AI Express (from Dongcha) reports that former Feishu Vice President of Product Shi Kaiwen has been revealed to have joined StepChips as a partner, reporting directly to Chairman Yin Qi, and is responsible for the Agent Operating System (Agent OS) segment. The news first emerged in mid-September, with the original report later removed, and StepChips has not publicly confirmed the development to date. Shi Kaiwen left Feishu at the end of June this year to start a business focused on edge-side Agents, with his team members hailing from ByteDance and Shanghai Jiao Tong University. Sequoia China and Jinqiu Fund were once reported to have participated in the project’s early-stage investment, with the startup rumored to be valued at up to $500 million. However, less than three months later, media outlets disclosed that he had called off the venture and instead opted to join a large language model (LLM) company. In January this year, Yin Qi took office as Chairman of StepChips; in July, StepChips launched its Agent Operating System Step AOS, personal agent Amoo, and the STEPX Neo smartphone; the device officially went on sale in October, priced at 3,999 yuan. Shi Kaiwen previously played a key role in developing Feishu’s multi-dimensional spreadsheet, and is adept at translating complex enterprise collaboration capabilities into user-friendly products for ordinary consumers. Now, he may bring this expertise to the smartphone Agent space, enabling AI to progress from understanding commands to executing actual operations.

Binance CEO He Yi responded to discussions about security incidents and internal device management, confirming that the earlier-rumored incident of an employee being fired for downloading iQiyi on a work computer took place at Binance. She stated: "The employee fired for downloading iQiyi on a work computer was also from Binance. We take responsibility for this, but such mistakes must not be repeated."

Market analyst Murphy wrote in a recent note that reviewing the period from January to September 2023, BTC price encountered resistance at the 1-standard-deviation level above the Short-Term Holder Realized Price (STH-RP) line, followed by a pullback each time. Of the three pullbacks, the first perfectly retested the STH-RP line, the second dipped slightly below it, and the third landed between the STH-RP line and the 1 standard deviation below it. Murphy added that the current STH-RP stands at roughly $75,700, while the 1 standard deviation below it is approximately $68,900. Based solely on this pattern, there is a certain probability of three scenarios: a pullback to $75,700, a pullback to $72,300, or a level between the two. Murphy stressed that he is not aiming to predict market movements, but only to outline trading plans. Combined with his earlier analysis of the "Seller Exhaustion Index", BTC formed the second low of this cycle when it pulled back to around $77,000, only higher than the signal point recorded in August this year. The analysis is for reference only and does not constitute direct investment advice.

According to monitoring by OnchainLens, Jump Crypto transferred 15 million USD1 in two separate transactions to BitGo over the past hour, and the funds were subsequently moved to BitGo's hot wallet.