Last night, the market's focus was solely on one thing—non-farm payroll data. When the results came out, the financial markets didn't get a clear answer; instead, they reinforced the current situation even more: although the macro environment hasn't collapsed further, it hasn't strengthened enough to trigger a significant rebound in risk appetite.

This explains why the weekend's market movements seem uneventful on the surface but are actually quite distressing.

Looking at the 4-hour Bitcoin candlestick chart, the logic is quite straightforward. After the price surged and then pulled back, it has been oscillating around the middle band of the Bollinger Bands, neither increasing volume to break down nor reasserting strong upward momentum. The MACD is curled up in the weak zone, but its momentum has clearly converged, and the RSI is stuck in a neutral to slightly weak position. In plain terms, this isn't panic selling; it's a typical high-level shakeout and waiting for confirmation.

Compared to Bitcoin, Ethereum shows more interesting signs during this correction. When the price returned near the middle band, it clearly halted, and the lower shadow began to appear, indicating that some buyers are indeed accumulating at the bottom. Although it remains somewhat weak in the short term, structurally, it looks more like testing whether the previous rally can hold rather than a trend reversal. As long as Ethereum doesn't experience a volume-driven breakdown of key support, the market is unlikely to evolve into a systemic risk release.

On the macro side, non-farm payrolls haven't rewritten the story. The pace of interest rate adjustments remains cautious, the US dollar lacks the short-term momentum to continue rising, and external pressures on risk assets are gradually easing. But here's the problem—funds also can't find a compelling reason to enter the market. So, the final outcome is to wait and see.

Prices can't fall further, can't rise much, there's no panic, but traders' patience is slowly wearing thin. The most torturous thing about weekend markets is that they don't give you a clear direction.