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As the release date for the non-farm payroll data approaches next Friday, market risks are rising. Observing the recent market movement, it is clear that the current rally lacks genuine support in terms of volume and is likely just a bull trap created by short-term money. The apparent rise has drawn many investors to enter blindly, unaware that potential market risks have begun to form slowly.
Historically, whenever the non-farm payroll data comes in better than market expectations, the Federal Reserve's hawkish stance is reinforced, and the cryptocurrency market often experiences a liquidity pullback first, making it difficult for Bitcoin’s price to stand alone. If this data is stronger than expected again, it will further weaken expectations regarding interest rate cuts, accelerating the withdrawal of funds from the cryptocurrency market.
It is likely that the point 107200 is not the true support bottom, but rather a starting point for a new round of declines. The apparent opportunity to "enter" may actually be a carefully crafted trap by the bulls, and there may be a risk of Bitcoin dropping below
$100,000 in the short term. $BTC
