Why did the non-farm payrolls data cause the cryptocurrency market to fall so much?

The impact of non-farm payrolls data may still be a mystery. But in fact, this data can explain why financial markets - including our cryptocurrency market - have fluctuated sharply.

When the non-farm payrolls data is higher than market expectations, it is actually bad news, which may squeeze market performance. The logic behind this is that a high employment population means that we may have to expect the Fed to postpone the timetable for interest rate cuts, because non-farm payrolls and unemployment rates are key indicators that the Fed pays attention to. This provides Powell and the Fed with confidence to maintain monetary policy stability.

Understanding the importance of non-farm payrolls data is a key step in interpreting market dynamics. Even though this data is still vague to many people, it plays an important role in our understanding and prediction of market trends.

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