Macroeconomic Overview

1. This week's key data will be Wednesday's ADP and Friday's non-farm data. The former is expected to be lower than the previous value (bullish), while the latter is expected to be higher than the previous value (bearish). The unemployment rate is expected to rise (bullish) — this week's employment data shows divergence and is difficult to grasp; pay attention to real-time data announcements.

2. Several Federal Reserve officials will speak this week, with a focus on Friday's remarks from Fed Chair Powell.

3. Last Friday and last month's US stock performance was impressive, with sectors such as robotics and chips performing excellently, leading to good performance in tech stocks. The crypto market received a boost, especially tokens linked to AI, such as GLM, WLD, and ARKM. Continue to look for buying opportunities on pullbacks this week.

4. Recently, BTC has maintained high levels, with short-term gains not matching altcoins. The market is showing clear signs of reallocation, likely entering an altcoin season.

5. Liquidation data shows that current short liquidations > long liquidations. The market's bullish foundation remains unchanged, and the trading rhythm is still primarily low bullish.

6. Bitcoin spot ETFs continue to show net inflows, although the inflow rate has decreased compared to before. However, the bullish atmosphere in the market remains strong with no signs of outflows, and funding continues to look positive.

7. XRP leads the gains, older altcoins are starting to recover, and the status of traditional coins is facing some impact. In terms of allocation, try to avoid those with traditional leading positions and focus on coins that have a significant demand for catch-up — similar to the stock market's approach of 'light on large caps, heavy on individual stocks.'