After 43 days of a US government shutdown, the delayed non-farm payrolls data is finally set to be released tonight. This long-awaited data could become the "bellwether" for the recent global financial markets.

Why is this so critical? Because this set of data will directly influence how investors view the Federal Reserve's next move.

Imagine two scenarios:

**If the employment data is weak**—this will reinforce market expectations of the Fed easing policy. Once liquidity easing becomes the consensus, risk assets led by BTC could see a surge. This is the kind of rapid and sharp rally that comes quickly.

**If the data far exceeds expectations**—the resilience of the labor market will suppress hopes of rate cuts. At this point, market sentiment will quickly cool, and crypto prices are likely to face correction pressure. Plus, with many funds leveraging positions, the risk of chain liquidations increases and should be approached with caution.

In other words, this report could either be an accelerant for the market or a brake. The most prudent approach now? Keep a close eye on the data release, respond rationally, and avoid being driven by short-term volatility.