Tonight, the US non-farm payroll data for July will be released, and the market is paying close attention! Analysts at Danske Bank warn that if the data is weak, the pressure on the Federal Reserve to cut interest rates in September will soar. Although yesterday's PCE inflation slightly exceeded expectations, the data shows that returning inflation to 2% is extremely difficult, and the Federal Reserve may be forced to shift to easing earlier.

The CME FedWatch tool shows that traders have bet the probability of a rate cut in September at over 70%, far exceeding the 30% from a month ago. This means that the market is wildly pricing in the "Fed pivot," and tonight's non-farm data will be a key catalyst!

As soon as the PCE data was released last night, the sentiment for Bitcoin and Ethereum has already dropped to a freezing point.

Will the release of non-farm data at 20:30 tonight lead to a reversal? We will just have to wait and see.

This morning, Lao Chen also mentioned: If the employment data is surprisingly weak, then $ETH $BTC will welcome another surge. If it exceeds expectations, it will be negative. If it meets expectations, the market will not have much volatility. The current market is not difficult to navigate; it all depends on how you manage the rhythm. #加密市场回调

I am Fu Xiang, the prediction expert Lao Chen, focused on interpreting news, and specifically targeting market inflection points! Follow me for daily strategies to get on board in advance.