According to Cointelegraph, the U.S. government shutdown has reached its 38th day, with the Senate poised to vote on a funding bill that could temporarily reopen government operations. The Senate's agenda includes considering a continuing resolution from the House of Representatives aimed at funding the government. However, it remains uncertain if the bill will achieve the necessary 60-vote threshold in the Senate, following several unsuccessful attempts in recent weeks. During the ongoing shutdown, discussions between Republican and Democratic lawmakers have reportedly persisted regarding the digital asset market structure bill. This legislation, known as the CLARITY Act in the House and the Responsible Financial Innovation Act in the Senate, aims to establish a comprehensive regulatory framework for cryptocurrencies in the United States. Despite the shutdown, members of Congress have continued to receive their salaries, unlike many government agencies where employees have been furloughed or are working without pay. Consequently, legislative efforts, including those related to cryptocurrency regulation, appear to have been deprioritized in favor of resolving the shutdown. As of now, it is unclear how much bipartisan support Republicans have garnered from Democrats, who have consistently demanded the extension of healthcare subsidies and the reversal of cuts from a July funding bill. This raises questions about the feasibility of the Republicans' timeline for the crypto bill. Wyoming Senator Cynthia Lummis, a key advocate for the market structure bill, stated in August that Republicans intended to advance the legislation through the Senate Banking Committee by the end of September, the Senate Agriculture Committee in October, and have it signed into law by 2026. However, given the ongoing government shutdown and the approaching holiday season, this timeline appears increasingly unlikely.

According to Odaily, the New York Federal Reserve has released its October report, indicating a decrease in the one-year inflation expectation to 3.24%, down from the previous 3.38%. The report highlights a decline in expectations for future financial conditions, with mixed outlooks on commodity prices. Additionally, households have expressed predominantly negative views on the labor market outlook.

According to BlockBeats, CryptoQuant's research director Julio Moreno has analyzed the recent behavior of Bitcoin long-term holders (LTH) and highlighted differences in their selling patterns. Moreno notes that it is common for long-term holders to sell during bull markets, especially when prices reach new highs, as they often seek to realize profits. The crucial factor is whether Bitcoin's demand is increasing enough to absorb sales at higher prices. For instance, during January to March and November to December of 2024, there was a simultaneous increase in demand (marked by green areas), which coincided with heightened sales from long-term holders, leading to new all-time high prices. However, since October this year, while sales from long-term holders have risen, the additional demand has been shrinking (marked by red areas), making it difficult to absorb the supply at elevated prices.

The New York Fed's 1-year inflation forecast for October was 3.24%, down from 3.38% previously. The 3-year and 5-year inflation forecasts remained unchanged at 3%. The New York Fed stated that expectations for future financial conditions declined somewhat in October, and the outlook for commodity prices was mixed. Households' views on the labor market outlook were mostly negative. (Golden Ten)

Market data shows that privacy coins are generally rising, with ZEC currently trading at $675.39, up 31.2% in the last 24 hours; RAIL at $4.48, up 26.3% in the last 24 hours; ROSE at $0.02457, up 40% in the last 24 hours; SCRT at $0.283, up 28.7% in the last 24 hours; and NEAR at $2.54, up 29.1% in the last 24 hours.

US President Donald Trump called former House Speaker Nancy Pelosi a "politically inept person" and a "disaster for America," accusing the politician of illegally amassing wealth in the stock market. The 85-year-old Pelosi announced in a video address to San Francisco voters that she would not run for Congress again. Trump posted on social media: "Nancy Pelosi, this old, defeated politically inept person, is finally out of office. She tried to impeach me twice, but failed. She made her fortune illegally in the stock market, deceived the American public, and was a disaster for America. I'm glad Nancy Pelosi's filth is finally gone." (Jin Shi)

According to Odaily, Lookonchain monitoring has revealed that a whale recently closed a short position on XRP, earning a profit of $945,000. The whale has now begun increasing its short position in Bitcoin, with holdings reaching 2,222 BTC, valued at $224.5 million.

According to BlockBeats, U.S. consumer confidence has plummeted to its lowest level in more than three years, driven by the economic impact of the government shutdown and rising prices affecting personal financial expectations. Preliminary data from the University of Michigan indicates that the consumer confidence index fell to 50.3 in November, down from 53.6 the previous month, marking the lowest point since June 2022. The current conditions index dropped significantly by 6.3 points to a record low of 52.3, reflecting growing public concern over the effects of the government shutdown. The report highlights that this decline in overall confidence is widespread across various age, income, and political groups. Although mentions of 'high prices' have increased for the fifth consecutive month, long-term inflation expectations have eased. Consumers anticipate that prices will rise at an average annual rate of 3.6% over the next five to ten years, reaching a three-month low. The statement notes, "Consumers are experiencing financial pressure from multiple sources. They also expect the labor market to weaken further and anticipate being affected." Concerns about unemployment have surged this month, with 71% of respondents expecting the unemployment rate to rise in the coming year, more than double the proportion from the same period last year.

OKX market data shows that ETH has rebounded and broken through 3300 USDT, currently trading at 3300.08 USDT, with the 24-hour decline narrowing to 0.92%. (This news item was generated with AI assistance.)

According to Cointelegraph, AI-powered trading bots are increasingly capturing the attention of crypto market participants, generating both enthusiasm and concern among traders eager to automate their strategies. However, industry experts caution that many individuals still misunderstand the capabilities and limitations of these bots, as well as the distinct differences between specialized trading AIs and general-purpose tools like ChatGPT. AI trading tools are gaining prominence, but the excitement surrounding them should be tempered with an understanding of the risks involved in entrusting automated systems with investment capital. Brett Singer, sales and research lead at Glassnode, and Nodari Kolmakhidze, chief financial officer and partner at Cindicator, which developed Stoic.AI, are at the forefront of data, algorithms, and traders shaping the future of AI-driven strategies. Singer emphasized that the true strength of AI in trading lies not in magical decision-making but in data processing capabilities. He explained that models can explore extensive databases swiftly, enabling the development of trading strategies. Glassnode's Claude-powered MCP server exemplifies this by providing advanced analytics that can answer complex questions rapidly. Despite these advancements, Singer warned that most AI bots struggle in realistic market conditions, often failing to outperform the market. He noted that many rely on shallow backtests or single-signal strategies, lacking the robustness employed by professional quant desks. Kolmakhidze highlighted the distinction between general-purpose AI models like ChatGPT and specialized bots designed for trading. He argued that expecting a chatbot trained on text to execute profitable strategies is unrealistic, as trading remains challenging even for top hedge funds. Kolmakhidze also cautioned against the misconception that AI bots are automatic profit machines, emphasizing that market regimes shift and even strong models can falter when volatility or momentum structures change. Both experts concurred that AI's future role is not to replace traders but to enhance them. Singer likened today's AI to "an associate or an intern that can work 24 hours a day," yet still requires human judgment. The full episode of Byte-Sized Insight offers a comprehensive interview available on Cointelegraph’s Podcasts page, Apple Podcasts, or Spotify, providing further insights into the evolving landscape of AI in trading.

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