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Patrick Witt, head of the White House Crypto Committee, stated on the X platform that the latest draft of the crypto market structure bill released by the U.S. Senate Agriculture Committee is a high-quality bipartisan achievement, with over 80% similarity to the House CLARITY Act text. The draft has received support from the majority of Democrats on the Agriculture Committee and nearly 40% support among House Democrats. Patrick Witt emphasized that, under the regulatory environment shaped by Trump and crypto advocates, the passage of crypto market structure legislation is only a matter of time. If the current window is missed, the future may face a stricter regulatory framework.

BlockBeats News, January 23rd, according to HyperInsight monitoring, a trader (0x61cee) went short with 20x leverage on 226,100 xyz:SILVER (pegged to the silver price), with an average entry price of $89.72, currently unrealized loss of $2.026 million, and a liquidation price of $112.79.

BlockBeats News, January 23, glassnode released its weekly report stating that Bitcoin remains in a state of low participation, with price movements driven more by a lack of pressure than by active trading willingness. On-chain data continues to reflect an oversupply and fragile structural support, and although spot capital flows have improved, they have yet to translate into sustained accumulation. Institutional and corporate demand remains cautious, treasury company capital flows are stabilizing, and trading activity is concentrated in sporadic transactions. Derivatives participation remains sluggish, futures trading volume is shrinking, and leverage usage is relatively moderate, further exacerbating the illiquid market environment, making prices increasingly sensitive to minor position changes. Overall, the market seems to be quietly building a bottom, but this consolidation is not due to excessive participation or enthusiasm, but rather because investor confidence has paused, with everyone waiting for the next clear catalyst to reignite broader market participation and momentum.