Tonight's crypto market is destined to keep people tossing and turning. On one side, wild tokens like PIPPIN are surging crazily—up 21.8% in 24 hours, hitting a high of $0.42688, with trading volume surpassing $6.8 million, causing chasing traders to go wild with excitement; on the other side, market sentiment is stuck in a stalemate—the US non-farm payrolls data is about to be released at 21:30, and this data will be decisive in whether the market continues its bullish trend or faces a correction.

Many people are now facing a tough choice: watching PIPPIN soar and wanting to follow the trend, but worried that the non-farm data might trigger a sharp drop and trap them; waiting for the non-farm data to move, but afraid of missing out on the next rise of these wild tokens. The key lies in understanding how these two variables influence the market.

Why is non-farm data the market's benchmark? Tonight, the market expects new jobs to increase by 60,000 to 73,000, with the unemployment rate falling back to 4.5%. This data directly determines the Federal Reserve's policy direction. If the data exceeds expectations, it indicates that the US economy is solid, and the Fed might postpone interest rate cuts, leading to a dollar appreciation and potential capital outflows from cryptocurrencies. Looking back at May last year, when non-farm payrolls beat expectations, BTC dropped about 4% in the short term, while ecosystem tokens like Solana and various altcoins often fell more than 10%.

Conversely, if the data is weaker than expected, market expectations for rate cuts will heat up, institutional funds will flood into the crypto market, with BTC and ETH usually leading the rally, and high-volatility tokens like PIPPIN also likely to follow suit. So, the key variable is this non-farm data—it either injects confidence into the market or causes latecomers to suffer.