Crypto friends, the non-farm payroll data is stirring things up again! This thing is like your partner's mood, unpredictable but you have to deal with it. Today, as the May data comes out, our crypto assets are about to go on a roller coaster ride—unemployment rate stable as ever at 4.2%, but the addition of 139,000 jobs has sent the market into a frenzy!
As the dollar strengthens, I turn green: Non-farm payroll data exceeds expectations, and the dollar immediately perks up, while Bitcoin is like a soda that's been deflated—whoosh, it just goes flat. Remember March 2024? After the data explosion, BTC dropped directly by 4%, and I stayed up all night watching the market, only to close my eyes and when I opened them again, my account had shrunk by 5%, that was quite a sour experience!
The Federal Reserve is up to something: Wages are rising more than expected (annual rate of 3.9%), and Mr. Powell is now itching to hit the rate hike button. It's like your wife suddenly says your pocket money is going to be halved; can you keep calm with the coins you have?
Altcoins are collectively taking a hit: After the data was released, SOL led the dive, and XRP was barely playing dead. It's like the top student in class suddenly flunked, and the underachievers got so scared they wet their pants; this batch of altcoins has poor psychological resilience!
But don’t panic, my friends, this data has hidden secrets: Job growth is actually weaker than the previous value, and who knows, maybe next month the Federal Reserve will change its tune and call for interest rate cuts.
Next month on non-farm night, I have prepared three wealth codes; those who want to know in advance, hurry and follow me! After all, in the crypto world, whether you drink soup or eat dirt along with the non-farm data depends on whether you’re following the right experienced driver!