The Calm Before the Storm? Tonight ETH may bloodbath at $4500!
The quieter the market, the more vigilant you should be against the undercurrents—tonight's crypto market is likely the last calm before a storm.
On August 28th at 8 PM Beijing time, after the release of the US initial jobless claims data, the market reacted surprisingly calmly: the number of unemployed decreased slightly to 229,000, lower than expected, but ETH price only fluctuated slightly. Behind this unusual phenomenon lie three truths that must be told:
News aspect
The data 'looks good, but is actually hollow.' Although the number of unemployed has decreased, companies have long entered a 'no hiring, no layoffs' stalemate—over the past three months, the monthly job additions have only been 35,000, far less than the same period last year. More critically, consumer confidence in the job market has fallen to a four-and-a-half-year low. It’s like a person who appears calm on the surface but is already panicking inside.