Last night, when the US economic data was released, global traders were stunned. The report was downright contradictory: inflation was lower than expected, but the unemployment rate was higher than anticipated. The underlying reason was even more painful— a 43-day government shutdown caused severe data distortion, leaving everyone unsure whether these numbers could be trusted.

The market immediately split into two camps arguing. The bullish side was excited: "Inflation is cooling, the Federal Reserve will cut rates aggressively next year, a bull market is coming!" The bearish side coldly retorted: "Unemployment is rising, a recession is inevitable, risk assets are doomed." Neither side was wrong, but they couldn’t see eye to eye.

Interestingly, traders at leading institutions moved at this moment. They weren’t looking at today’s data but at the trend. Lori Giao, an analyst at Manulife Investment, pointed out a key point: if the unemployment rate continues to rise by 0.1% each month, market expectations for rate cuts next year are simply not enough. In other words, the flood of liquidity might come earlier and more fiercely than everyone imagines.

What does this mean for crypto assets, which are extremely sensitive to interest rate fluctuations? Some have quietly started shifting toward decentralized stablecoins, betting on this wave of liquidity easing. When traditional economic indicators become unreliable, some traders choose a different approach—using stablecoins to hedge against uncertainty, which can also be considered a smart response.

Behind this move reflects a deeper question: when economic fundamentals are all in chaos, what should we trust? Some choose to believe in policy expectations, others in technical analysis and the certainty of decentralization. Both paths are open; it all depends on who bets right.