With last night's rapid decline, the altcoin market has been completely reshuffled, and most altcoins have fallen below the bottom range of the past six months. It can be said that this wave is simply outrageous; this kind of decline seems to be burying the beautiful landscape!

This is due to yesterday's radical remarks from Trump, and Musk's temporary lack of plans to support Dogecoin payments on X, which triggered a "bloodbath" as early as the morning!

1. Two important data points tonight:

The small non-farm payroll data released at 21:15 has an expected value that is 6,000 fewer jobs than the previous value, which is a slight positive for interest rate cuts!

And the initial jobless claims at 21:30 are 7,000 more than the previous value. These two pieces of data corroborate each other, both being slight positives!

2. The key data, of course, is the large non-farm payroll data released on Friday evening:

The unemployment rate for the large non-farm payroll data is basically consistent, but the expected value for non-farm employment is 67,000 lower than the previous value, which is much worse than the small non-farm payroll data. This is definitely a positive signal in He Yang's opinion!

For both large and small non-farm payroll data, if the published value is not far from the expected value, it is undoubtedly positive. Therefore, the probability of the Federal Reserve cutting interest rates at the end of this month will greatly increase! Even if there is no rate cut this month, it won't be far from one! The medium to long-term interest rate cut cycle will not change! Thus, there is no long-term concern about liquidity!