The recent November employment data released by the US is quite interesting. On the surface, the addition of 64,000 jobs exceeded market expectations, but the unemployment rate actually jumped to 4.6%, the highest in nearly four years. Looking further, the October data was revised downward—unemployment decreased by 105,000. What is the main reason behind this? The Trump administration's "delayed resignation" plan led to over 150,000 federal employees being removed from the payroll.

This set of data is mixed, leaving the market a bit confused. However, traders remain somewhat optimistic, continuing to bet on two rate cuts by 2026. But there's a problem—due to the previous government shutdown, the employment data for October and November might have been distorted, reducing their reference value. Federal Reserve officials are likely aware of this and may focus more on the December non-farm payroll report released in early January 2026, which will be the real basis for decision-making.

Looking at the crypto market performance, Bitcoin did rebound after the data was released and is now stabilizing around $87,000. However, many analysts warn that the current market environment is quite fragile. Without positive stimulus signals, Bitcoin could potentially drop below $80,000 in the short term. So, we're currently observing whether new positive news will support the market or if it will continue to face pressure.