Tonight at 21:30 US time, three major economic data releases will be densely published—Initial Jobless Claims, ISM Manufacturing PMI and Non-Manufacturing PMI, and Import Price Index. The impact of this wave of data on Bitcoin and Ethereum price movements is significant, and the market will soon face a test.

Let's break down the logic behind it: if initial jobless claims exceed expectations, it indicates pressure in the employment market, and the Federal Reserve may accelerate its rate cut pace, which is directly positive for risk assets. Conversely, if manufacturing data is strong, the US dollar will strengthen accordingly, and crypto prices may be suppressed in the short term. Regarding import prices, weakening data suggests inflation is easing, and market risk appetite will also increase accordingly.

From a practical trading perspective, maintain a light position before the data release—absolutely avoid heavy bets on one side. After the data is released, if rate cut expectations heat up, you can gradually buy on dips to build long positions. But if economic data comes in too strong, immediately cut losses or switch to a light short position—stop-loss must be set in advance. It's better to earn less than to let a single fluctuation wipe out previous gains.