Tonight at 21:15, the ADP report is coming, and tonight's market may be very exciting!

The Federal Reserve will hold a monetary policy meeting next week, but strangely, the official non-farm employment numbers and inflation data are absent! This makes tonight's ADP report the only window and key guide for the Federal Reserve to observe the U.S. labor market!

Since it is the only reference data for the Federal Reserve, its influence on the market will be amplified! Volatility is expected, whether it's $BTC or the U.S. stock market, both may be driven by the data.

In my opinion, if the ADP is strong (data above expectations), it indicates a hot labor market and persistent inflationary pressures. The Federal Reserve may continue to be hawkish, which would be bad for risk assets ($BTC ).

If the ADP is weak (data below expectations), it indicates a cooling labor market and rising expectations for interest rate cuts. The Federal Reserve may turn dovish, which would be good for risk assets ($BTC ).