Last night, tech stocks and Bitcoin plummeted, with several major tech stock funds experiencing consecutive liquidations, indicating a thorough deleveraging effort. The market believes the crash was caused by the Democratic Party's AI regulatory proposal, which carries a maximum penalty of 20 years imprisonment for violations. AI development is a major trend, and the Democrats will ultimately support it; such news is largely a smokescreen for deleveraging. Tonight, the October non-farm payroll data will be released. The market expects 65,000 new jobs, higher than the previous 29,000, with the unemployment rate expected to remain at 4.2%. If the results meet expectations, there may be a slight rebound; exceeding expectations would be negative, while falling short would be positive. However, in the medium term, many negative factors remain: (1) The Democrats' victory in both houses of Congress raises concerns about long-term negative impacts on crypto policies. (2) Claude's parent company plans an IPO in November, which will divert existing market funds. (3) With over 67% of investors expecting an interest rate hike in December, funds are hesitant to buy. With multiple negative factors persisting, a one-sided rebound is unlikely. The market will likely fluctuate for the next month before starting to rise again, once the interest rate hike expectations are realized.