Non-farm payrolls exceed expectations: 64,000 new jobs added in November. How does the cryptocurrency market respond?

November 2025 US Non-Farm Payrolls Report Released: 64,000 New Jobs Added, Surpassing Expectations! This report, published on December 16, 2025, not only guides macroeconomic outlooks but also stirs waves in the cryptocurrency market. This article will analyze the signals behind the data and provide insights into the latest developments of core assets on Gate.

Key Insights from the Report: Why Are 64,000 New Jobs So Important?

The US Bureau of Labor Statistics released on December 16, 2025, shows that non-farm employment increased by 64,000 in November 2025, significantly higher than the market consensus of 50,000. The unemployment rate remained low at 3.8%, with hourly wages rising 0.3% month-over-month, in line with expectations.

This unexpectedly strong data conveys key messages:

1. Economic Resilience Remains: Despite high interest rate environments, the labor market shows no clear signs of cooling, easing fears of an imminent recession.
2. Monetary Policy Impact: Robust employment figures may cause the Federal Reserve to be more cautious in rate cuts, potentially dampening expectations for rate reductions in the first half of 2026.
3. Risk Sentiment Indicator: Traditionally, strong economic data can boost risk assets but may also trigger short-term volatility due to “rate hike concerns.” As an emerging risk asset class, cryptocurrencies are particularly sensitive to such macro data.

Historical Linkages Between Traditional and Crypto Markets

Non-farm payroll data has always been a key event influencing global markets. Surprising figures often lead to:

• US Dollar Index (DXY) Strengthening: Market expectations of sustained high interest rates attract capital inflows into USD.
• US Treasury Yields Rising: Especially short-term yields, reacting swiftly to monetary policy expectations.
• Complex Stock Market Reactions: On one hand, corporate earnings outlooks improve; on the other, high interest rates increase valuation pressures.

In recent years, the correlation between crypto markets and macro data has become more pronounced. A strong employment report may transmit through:

• Rate Expectation Pathways: Reinforcing “higher for longer” rate expectations, potentially suppressing valuations of assets like Bitcoin, viewed as “zero-yield” or inflation-hedging assets in the short term.
• Risk Capital Flows: If data supports a “soft landing” narrative—robust economy with controlled inflation—risk appetite may increase, directing funds into high-growth assets like cryptocurrencies.
• US Dollar Strength: A strong USD generally exerts short-term pressure on USD-denominated cryptocurrencies.

Gate Market Dynamics: Latest Asset Price Movements Post-Data Release (as of December 17)

Following the payroll report, the crypto market experienced immediate volatility and digestion. Here are some of the key assets on Gate as of December 17 with latest performance and analysis:

• Bitcoin (BTC): As a market barometer, BTC price initially faced pressure after the data release but quickly showed resilience. As of December 17, BTC hovered between $85,200 and $86,500 on Gate. The market appears to be balancing “economic overheating risks” against “demand growth prospects.” Strong economic data may delay rate cuts but also indicates economic health, laying a foundation for long-term crypto adoption.
• Ethereum (ETH): Moving in tandem with the broader market, ETH displayed similar volatility. Data shows ETH trading between $4,450 and $4,600. Its trend is influenced not only by macro sentiment but also by ecosystem developments, Layer 2 adoption, and upcoming network upgrades.
• Mainstream Altcoins and DeFi Tokens: Responses are more varied. Some tokens related to AI, real-world assets (RWA), and decentralized physical infrastructure networks (DePIN) perform relatively resiliently, driven by narrative factors. Meanwhile, high-beta meme coins exhibit increased volatility. Traders should monitor sector rotations across spot and derivatives markets on Gate.

Trader Perspective: How to Respond to Macro Data Volatility on Gate?

In the face of high-impact macroeconomic events, traders can consider the following strategies:

1. Pre-Event Preparation: Assess your position risks before the report release. Use Gate’s derivatives trading tools (such as stop-loss and take-profit orders), or consider spot grid trading to smooth out extreme volatility.
2. Focus on Immediate Liquidity: Major news releases can cause instant liquidity shifts. Gate’s deep liquidity pool offers a relatively stable execution environment during large swings, reducing slippage.
3. Cross-Market Analysis: Don’t view crypto in isolation. When observing prices on Gate, also monitor real-time changes in the US Dollar Index (DXY), 2-year and 10-year US Treasury yields—important auxiliary indicators.
4. Medium to Long-Term Perspective: A single data point won’t alter long-term trends. For dollar-cost averaging or long-term holders, short-term pullbacks driven by macro data may be opportunities to accumulate quality assets on Gate.

Future Outlook: Macro Narratives and Crypto Markets in 2026

The November 2025 non-farm payrolls report sets the tone for macro policies into Q4 2025 and early 2026. Markets will continue balancing “economic resilience” against “rate cut expectations.”

For the crypto market, beyond macro rate narratives, its own catalysts are equally critical:

• Continued inflows into Bitcoin ETFs.
• Progress on Ethereum’s next phase upgrades.
• Further clarification of global regulatory frameworks.
• Adoption and innovation of new asset classes like RWA tokens on major platforms like Gate.

Conclusion

The November 2025 non-farm employment data, exceeding expectations, once again demonstrates the vitality of the US labor market. It reflects both the current state of traditional economy and the sensitivity and growth potential of the emerging crypto market.

As a vital bridge connecting traditional finance and the crypto world, Gate will continue providing users worldwide with secure, efficient, transparent trading environments, along with firsthand market insights and analysis. Regardless of macro fluctuations, Gate is committed to helping users better understand market trends and seize potential opportunities.