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The non-farm payroll data to be announced tonight may become an important turning point for the cryptocurrency market. Market analysts generally believe that the results of this report could have a significant impact on the short-term trends of major cryptocurrencies such as Bitcoin and Ethereum.
If the non-farm payroll data falls short of expectations, it may weaken the Federal Reserve's rate cut expectations, thereby strengthening the USD. In this scenario, Bitcoin and Ethereum may face downward pressure, and investors should be cautious of potential pullbacks.
On the contrary, if the non-farm data exceeds expectations, it may boost market risk appetite. In this case, Bitcoin and Ethereum are expected to experience a rebound, bringing potential opportunities for bullish investors.
Given the potential market volatility that the data release may trigger, it is crucial for investors to maintain a cautious attitude before the non-farm payroll data is published. It is advisable to closely monitor the changes in market sentiment after the data release and flexibly adjust investment strategies and positions based on the actual situation.
Regardless of the outcome, the non-farm data will provide important clues for the encryption currency market. Investors should remain vigilant and be prepared to respond to various possible market scenarios.