Non-farm payrolls landed, and the pricing logic of U.S. Treasury bonds flipped directly. The expectation of interest rate cuts before the data has almost returned to zero, and as soon as the hawkish signals emerged, the whole market trembled. Once the results were announced, front-end yields plummeted, and the expectations for rate cuts were instantly ignited.

Next, we will look at the inflation data for July and August, which will determine the fate of the Federal Reserve. The probability of a rate cut in September has already been forcibly raised.

Operational Silk Road: Don't chase shorts at low levels, wait for a rebound first. For aggressive positions, cut directly above 3520, for conservative positions, act around 3570, targeting 3350, and if it breaks, directly head towards 3200. $ETH $BNB #加密项目 #美国加征关税 #加密市场回调