Wu said that according to the latest report released by QCP Capital, the US non-farm payrolls report for August showed 142,000 new jobs, lower than the expected 165,000, and an unemployment rate of 4.2%, which was in line with expectations. The market initially reacted positively to this, with risk assets rising. But as the market began to digest expectations of a September rate cut, optimism reversed sharply. After the release of the non-farm payrolls data, the market expected a 55% probability of a 50 basis point rate cut. As of this morning, the market expected a 70% probability of a 25 basis point rate cut and a 30% probability of a 50 basis point rate cut. In addition, despite the sharp drop in cryptocurrency prices overnight, the options market was relatively calm. The trading platform even saw a large number of put options being sold. Short-term volatility is declining as spot prices consolidate before the weekend.