How does the market interpret the US November unemployment rate exceeding expectations at 4.6%?

【Blockchain Rhythm】The US unemployment rate for November has been released at 4.6%, exceeding market expectations of 4.4%. What does this data imply? An increase in the unemployment rate typically indicates a weakening labor market, which may boost expectations of the Federal Reserve cutting interest rates, thereby benefiting risk assets. The crypto market is particularly sensitive to such macroeconomic data—weak unemployment figures often lead to increased risk appetite for assets like Bitcoin and Ethereum. From a broader macro perspective, signals of slowing US economic growth and sluggish employment gains are accumulating, which will have a profound impact on asset allocation. Subsequent focus should be on the Federal Reserve’s response to this data and the re-pricing of market expectations.