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🔥🔥🔥Non-farm payrolls meet interest rate hikes, the sword of the cryptocurrency market hangs high❗️
‼️Yesterday's non-farm payroll data was unexpectedly strong, with new jobs far exceeding expectations, and the unemployment rate stable at a low level, throwing cold water on the already complicated expectations for the Federal Reserve to lower interest rates—market bets on rate cuts in March next year instantly cooled, bitcoin dropped below $88,000, and altcoins fell even more. The more critical variable lies in the East: on December 19, the Bank of Japan is highly likely to raise interest rates to 0.75%, which will be the first 'strong rate hike' in 30 years.
‼️The connection between the two events is hidden in 'carry trades': for the past 30 years, the yen's ultra-low interest rates have led global speculators to borrow and leverage to buy US Treasuries, US stocks, and even cryptocurrencies, with a scale of up to $4-20 trillion. Once Japan raises interest rates, the cost of borrowing yen will soar, and these funds will prioritize returning to Japan to 'fill the holes', making cryptocurrencies the first targets for selling. 来社区聊聊后市行情
🚨The future direction of the cryptocurrency market depends entirely on the competition between these two forces: the 'high interest rate expectations' supported by non-farm payrolls and the 'liquidity contraction' triggered by Japan's interest rate hike. Will they resonate? If both overlap, bitcoin may test the support level of $80,000; if the Federal Reserve subsequently releases dovish signals to 'hedge', the cryptocurrency market may stabilize. But in any case, this liquidity change triggered by non-farm payrolls and Japan's interest rate hike has made the sword hanging over the cryptocurrency market even sharper, awaiting the Federal Reserve's subsequent policy to reveal the mystery.
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