Last night, the US December non-farm payroll data was released, and suddenly there was a mix-up suggesting that the core data was leaked prematurely, causing chaos among officials and major media outlets.

More importantly, the data itself was not ideal. The number of new jobs added was far below market expectations. Once this report was out, traders' attitudes immediately reversed. According to the CME FedWatch tool, the probability of a rate cut by the Federal Reserve in January surged from 60% to over 95%—almost a certainty.

This shift has had a significant impact on the market. On one side, trust issues arose from the data leak; on the other, signals of economic cooling added to the pressure, creating a double blow. For the crypto market, macroeconomic uncertainty has introduced new variables, and short-term volatility pressure may increase noticeably. During such times, the correlation among various assets usually strengthens, and investors need to closely monitor subsequent market reactions.