U.S. non-farm payroll data will be released tonight, and the results will have a significant impact on the Federal Reserve's September interest rate decision.

The July employment report will be released at 8:30 PM Beijing time on Friday, August 1.

The market expects: If non-farm data is below 100,000 and the unemployment rate rises, or if the tariff effects are proven to be a short-term shock, the Federal Reserve may cut interest rates in September, triggering a new round of declines for the dollar and a quick rebound for BTC; on the contrary, if non-farm employment data unexpectedly exceeds 150,000, it may rule out the possibility of two interest rate cuts by the Federal Reserve this year.