The non-farm payroll data is about to arrive, can the market withstand the test?
Many Federal Reserve officials are giving speeches one after another, and the market will face the test of non-farm payroll data! This week, multiple tokens will undergo significant unlocking, which is likely to trigger considerable selling pressure in the market. We need to pay attention to the chain reaction brought about by token unlocks.
The current cryptocurrency market is under the backdrop of adjustments in Federal Reserve policies and tightening macro liquidity, coupled with a total unlocking scale of over $369 million this week. The market needs to digest multiple selling pressures, and investor sentiment may lean towards caution.
In the future, attention should be paid to the actual flow of unlocked tokens and the progress of the project's ecological construction to assess whether the market can effectively absorb the increase in supply.
The non-farm employment data for May, announced on June 6, and the intensive speeches of Federal Reserve officials are core variables.
If non-farm employment exceeds expectations, it may strengthen the expectation of the Federal Reserve delaying interest rate cuts, leading to a stronger dollar and pressure on risk assets. Conversely, if the data is weak (such as the unemployment rate rising above 4%), it may alleviate concerns about liquidity tightening, which would be beneficial for the cryptocurrency market. In addition, if Federal Reserve officials' statements lean towards a 'hawkish' stance, it will further amplify market volatility.
The upcoming news will be shared promptly in small circles; for those still blindly observing, this is a place where many hands make light work.
