Tonight at 9:30 PM, the US will make a major move! Normally, the non-farm payroll data is released on the first Friday of each month, but due to government shutdowns and backlog, tonight's release will not only include November's data but also a "partial" version of October's data, like revealing two cards at once. The market is currently undergoing a minor reset in macro narrative; last week, the Fed just cut interest rates, and Powell hinted at downside risks to the employment market. The key point tonight is: is his "wolf is coming" statement real or just a warning? We can stay calm by focusing on three points: first, market expectations are only adding 50,000 jobs in November, with the unemployment rate possibly rising to 4.5%. The worse the data, the more likely the Fed will cut rates next year, which is positive for crypto; second, the October data is incomplete and possibly inflated, so don’t rush to conclusions based solely on numbers; third, the market is waiting for a soft landing scenario, and as long as the data doesn’t fall off a cliff, it will be interpreted as a sign that rate cuts are certain. I suggest not betting on exact numbers tonight, but on expectations. Slightly disappointing data, but not outrageous, is good for crypto; overly good data might actually be a warning. Most likely, "bad news clearing out means good news coming," and once the liquidity easing narrative is confirmed, our spring isn’t far away! $BTC Let’s look forward to tonight’s market!