There are no major negative factors in the market right now, all eyes are on this week's U.S. data and Japan's interest rate hike.
How do we view tonight's unemployment rate and non-farm data?
Japan's interest rate hike will impact sentiment in the short term, but in the medium to long term, we still look to the Federal Reserve's actions.
In previous rate hikes, BTC didn't drop much; this time, it is likely already priced in.
On-chain data shows that short-term holders are selling.
However, large holders haven't moved much, MicroStrategy is still continuously buying BTC and ETH.
Tonight's non-farm data is not about the numbers themselves, but rather how the market wants to interpret them.
The market is lacking a reason, and non-farm data is that matchstick.
If the data is weak, it may prolong interest rate cut expectations.
If the data is strong, it may instead hit high-leverage bulls.
Tonight's key isn't whether it's bullish or bearish, but how the market wants to use this data.
Is it for unloading or loosening regulations?
