News

Jinse Finance reported, citing sources familiar with the matter, that Alibaba (BABA.N) is planning to comprehensively revamp its main mobile AI application in the coming months to make its features more similar to OpenAI's ChatGPT. This is a key step in the company's broader effort to catch up with competitors and ultimately achieve profitability from individual users. According to the sources, Alibaba plans to first update its existing "Tongyi" app on iOS and Android systems and rename it "Qwen (Tongyi Qianwen)"—named after its well-known AI large model. The sources said that intelligent agent AI features will then be gradually added, with support for shopping functions on platforms including the main site Taobao in the coming months. They stated that the ultimate goal is to build Qwen into a fully functional AI agent. In addition, Alibaba also plans to eventually launch an overseas version for global expansion. (Golden Ten Data)

According to ChainCatcher, on-chain analyst Murphy released a BTC data analysis. With the end of the US government shutdown, market panic has eased slightly, but BTC has yet to see a rapid rebound. There are two bullish signals from BTC on-chain data: BTC balances on a certain exchange have started to decline, indicating that some funds are gradually entering the market and absorbing potential selling pressure; yesterday, after BTC rebounded to $105,000, the price fell back again, with realized losses for the day reaching $170 million. Compared to $540 million on November 4 and $350 million on November 7, the BTC price is similar, but the realized loss amount has significantly decreased. This suggests that market sentiment is gradually adapting to the weak performance, and panic has not further intensified. However, two aspects of BTC on-chain data remain unfavorable: according to purchasing power monitoring data from a certain exchange platform, the market has not yet entered an effective recovery phase, and bottom signals have not yet appeared; on-chain data also shows that new BTC investors have slowed down from their previous rapid entry pace. Based on long-term experience, new investors in this cycle are one of the core drivers of BTC price. When new demand starts to slow, it indicates that investors' risk appetite is declining. Overall, market confidence is being restored, but it will take time. The market is currently in a fragile and sensitive period, and any news will have an amplified impact. The analyst believes that BTC is likely to maintain a weak performance for some time.