Why did the cryptocurrency market fall? In fact, it is not the cryptocurrency market's fault. It is the Nasdaq that collapsed, bringing down everything. As for why the Nasdaq collapsed? It is said that it was caused by the JOLTs job vacancy data at 11 o'clock last night. Job vacancies mean that the unemployment rate may fall and more jobs will be created. There are also PMI data. PMI exceeding expectations also represents the upward trend of the economy. The rise of both data indicates that the Federal Reserve is unlikely to change the pace of interest rate cuts, that is, twice or even less. It can be understood that the good or bad of the American economy and the cryptocurrency market are probably negatively correlated. The main reason is the expectation of interest rate cuts.

However, the above two points do not have such great power, because JOLTs job vacancies are not equal to unemployment rate and non-agricultural employment data. Although there is a correlation, it is not 100% related, including small non-agricultural data. The more important game is still in non-agricultural employment data.

Next, there will be a small non-farm data at 21:15 on Wednesday night. The US stock market will not open on Thursday, and the non-farm data will be released on Friday. According to this trend, if today's decline is indeed caused by JOLTs, then the employment data of these two days may have an impact on the market. The final game will still be on Friday's non-farm data. At present, there may be more panic selling, and confidence needs to be restored. #加密市场回调 #本轮牛市周期预期 #比特币走势观察