Shorts gather!!! The last non-farm payrolls before the interest rate meeting! How will it affect the crypto market?

At 20:30 tonight, the US non-farm payrolls for August will be released. Previously, the non-farm payrolls data for July attracted much attention from the market, with 114,000 new jobs, far below expectations; the unemployment rate rose to 4.3%, a three-year high, and the market increased its bets on interest rate cuts.

Most Wall Street is optimistic, predicting that the number of new non-farm payrolls in August will rebound to 163,000, and the unemployment rate will drop from 4.3% to 4.2%, the first decline since March. Some analysts also said that if the labor market unexpectedly deteriorates, it may lead to a 50 basis point interest rate cut by the Federal Reserve in September.

In addition, the newly released weak US manufacturing data for August has exacerbated market concerns about the slowdown of the US economy; the JOLTS job vacancies in July were far below expectations, the lowest since the beginning of 2021, pushing up expectations of interest rate cuts.

On September 4, the US stock market opened high and fell. The S&P, Nasdaq, and small-cap stock indexes fell for two consecutive days, and the Dow Jones barely closed higher. Bitcoin and Ethereum also fell by more than 1% in succession.

The last non-agricultural report before the September interest rate meeting is here! What signal will it send?