Trump erupts in anger: Non-farm data has been hacked! BTC suffers a bloodbath at the $110,000 level, causing a major earthquake in the crypto market!
“This is an economic scam!” Recently, Trump shouted angrily at a campaign rally in North Carolina, pointing fiercely at the air. The U.S. Labor Department had just announced the downward revision of non-farm data by 818,000—equivalent to erasing 30% of all new jobs added in the past year—when this former president accused the 'Biden administration of manipulating data.' This political battle not only caused a late plunge in U.S. stocks but also directly triggered the crypto market: Bitcoin (BTC) plummeted $1,500 within an hour, breaching the $110,000 level in an instant, with $113,000 becoming the last 'bloody defense line' for the bulls.
Non-farm data becomes the fuse: the economic war between Trump and Biden escalates
“They changed the data to be more fake than a Hollywood script!” Trump's blast hit the nail on the head. This non-farm payroll revision is the largest adjustment since 2009, with 818,000 jobs 'evaporating', equivalent to 16,000 jobs disappearing in each state. Although the White House argues that 'the revision does not affect overall employment growth', Trump's team quickly seized the opportunity: 'If employment data can be faked, then what is real about inflation and GDP?'
Behind this data war is a life-and-death game for the 2024 election. Polls show that Trump leads Harris by 6 percentage points on economic issues, and swing state voters (such as Pennsylvania and North Carolina) view employment data as a voting barometer. As soon as the non-farm data was released, Trump's campaign team immediately flooded Twitter: 'Biden's economic miracle was actually magic in an Excel spreadsheet!'
BTC suffers a bloodbath: the $110,000 level becomes a graveyard for bulls
The crypto market has never been absent from political storms. In the early morning of August 2, BTC plummeted from a high of $116,000, with a one-hour candlestick forming a 'guillotine', and the $113,000 support level was violently breached. Technical analysts exclaimed: 'The resistance level of $198,000 on July 28 was never broken; the bulls should have been alert!' But more fatal is the market sentiment—Trump's 'data falsification' allegations directly shook expectations for Fed interest rate cuts.
“If the employment data is manipulated, would the Fed dare to easily cut interest rates?” Institutional investors quickly withdrew. News about the U.S. government planning to sell 69,370 BTC seized from Silk Road only worsened the market situation. Data shows that BTC ETF saw an outflow of $569 million in a single day, a near three-month high. Retail investors are caught in a dilemma: should they bottom-fish 'Trump concept coins' or cut losses?
Bloody game: Who is manipulating the crypto market?
Behind Trump's 'data war' lies a power play in the crypto market. On one hand, he loudly supports Bitcoin, promising 'never to sell a single BTC after taking office'; on the other hand, his team is hyping up the 'Department of Government Efficiency (DOGE)' reform, threatening to liquidate the 'fake data' of the Biden era. This contradictory stance makes the market feel like walking a tightrope:
Bullish belief: If Trump is elected, he may push for Bitcoin to become a strategic reserve, and institutional funds will continue to flow in.
Bearish sword: If data falsification is confirmed, the Fed may delay interest rate cuts, and the rebound of the dollar index will crush safe-haven assets like gold and Bitcoin.
“Now is the gambling game!” a certain crypto KOL shouted on Twitter, “Either believe in Trump's 'America First', or believe in Biden's 'data magic'!” Data shows that the supply of long-term Bitcoin holders has plummeted from 16.3 million coins to 14.5 million coins, a three-year low—old investors are cashing out, while new players are waiting for the 'Trump market' to restart.
The bloody storm is not over: how to survive in the crypto market?
As of the early morning of August 2, BTC fluctuated around $113,000, but the technical indicators showed a 'death cross': the 5-day moving average crossed below the 20-day moving average, and the MACD green bars expanded. Analysts warned: 'If it falls below the $110,000 level, the next target is straight to $105,000!' Trump's next move will be a key variable:
If he continues to attack data falsification: the market may interpret it as 'policy uncertainty', making it difficult for BTC to rebound in the short term.
If he turns to economic promises: such as announcing a 'Bitcoin reserve plan', it could trigger a new round of surges.
“This is the charm of the crypto market—always soaring in the cracks of politics, economy, and human nature!” a certain institutional trader sneered, “The question now is not how far it will drop, but whether you dare to pick up the bloody chips in the bloodbath!”
Personal Opinion:
Trump flipping the table with non-farm data is essentially a political game of 'precise harvesting' in the crypto market. The authenticity of the data no longer matters; what matters is the collapse of market confidence—when political lies seep into economic indicators, the safe-haven properties of BTC, like 'digital gold', will be countered by the dollar index. Instead of betting on Trump's words, retail investors should closely watch the Federal Reserve: if interest rate cuts are delayed, $105,000 will be the real abyss; if he dares to write BTC into government reserves, that will signal a counterattack from the bulls.
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