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First, let's talk about the unemployment rate. The market generally predicts an increase of 73,000 jobs and a drop in the unemployment rate to 4.5%. Sounds good, but this number might be inflated. November was disrupted by the government shutdown, so this is the first relatively complete set of data. Once the noise is filtered out, the actual job growth may not be as strong as it appears—signs of an economic slowdown may already be emerging.
The logical chain is as follows: weaker-than-expected data → market bets on the Fed cutting interest rates → dollar depreciation → risk assets like $BTC and $ETH have a rebound opportunity. Conversely, if the data is strong, rate cut expectations will cool down, and the crypto market is likely to face pressure again. The key is to focus on two details—new job numbers indicate economic health, and the average hourly wage growth reflects inflation pressure. These two factors directly influence the Fed's policy decisions.
Now, let's look at the heavyweight tariff ruling. If the Supreme Court determines tariffs are illegal, importers should theoretically get refunds for tariffs paid over the years. It sounds like good news, but the reality is more complicated—refunds won't be processed immediately and could be entangled in lengthy legal battles. This long-term uncertainty may actually scare away institutional funds in the short term.
How to respond? Don't rush to go all-in. The most volatile periods are before and after the data and ruling are announced—observe how the market digests this information. If $BTC and $ETH move in the same direction as US stocks and gold, interpreting it as "rate cut positive" and taking a small position could be wise. If the crypto market moves independently without any reaction from traditional markets, it might be a manipulation by whales using the news to shake out weak hands—avoid following and losing money.
Market risks always exist; the key is to distinguish between genuine signals and false volatility.