Major Non-Farm Payrolls data is about to be released. The recent decline last night, from a market mechanism perspective, actually completed a meaningful cleansing.

That drop wiped out some of the earlier overleveraged long positions lacking patience. This process sounds brutal, but from the market ecology point of view, it actually removes a layer of unstable chips.

At the same time, the expectations of a rate hike in Japan have also been digested, with some pressure released in advance. This makes it interesting — when the evening data comes out, the market has already reserved two possible paths.

Scenario 1: Data below expectations — negative news might be interpreted by the market as "already priced in," and last night’s decline could be a preemptive venting, potentially lacking the momentum for further downside.

Scenario 2: Data exceeding expectations — last night’s drop was a false alarm, and the market will re-recognize the fundamental support, with a high likelihood of funds reversing and pushing prices higher.

Therefore, regardless of the direction, the current chip structure is already lighter than the previous day. In this environment, volatility will be amplified, but the trend will become clearer — as long as you can read market sentiment and key technical levels.

For example, for mainstream coins like ETH, the technical resistance around 3150 is worth close observation. Similar key levels often determine the probability distribution of short-term direction.

In major event-driven markets, volatility is essentially an opportunity. But the prerequisite is understanding the possible force directions of all parties involved. Blindly following the trend can be more psychologically stressful than missing out.