#美国非农就业数据未达市场预期 Tomorrow night at 21:30, the US December CPI data will undoubtedly be the top macro event of the week.

But honestly, this number itself doesn't have as much direct impact on the crypto market anymore. Everyone knows: the Federal Reserve will inevitably shift towards rate cuts next year. What really can move the market is whether this data can push forward the expectation that "easing will come earlier and more certain." That is the underlying driving force.

What’s more interesting than the data itself is how the market reacts in the next few hours. If the US stock market experiences significant volatility, will $BTC and mainstream coins still follow it closely? If this time $BTC can show some independence—not falling as hard, or being bought back immediately after a dip—that would be interesting. It indicates that institutional funds are continuously flowing in, enough to withstand shocks from macro sentiment. This is the real logic behind the shallow correction in the super cycle.

Three possibilities, three scenarios:

If the data is unimpressive, the market probably won't move much, and attention will shift to the crypto sector's own funding and ecosystem developments.

If the data is particularly strong, it will fuel all risk assets, and expectations will heat up, leading to a rally.

The most challenging scenario is if the data surprises negatively. That’s the real stress test. Panic is instinctive, but don’t just panic—focus on two indicators: Is $BTC’s decline shallower compared to US stocks and gold? Did Bitcoin ETFs continue to buy heavily during this dip? If the answer to both is yes, it actually proves the market structure is quite healthy. The long-term upward logic has never been broken; dips are opportunities to catch up.

Let’s wait and see the results.