#美国就业数据表现强劲超出预期 The Federal Reserve signals liquidity injections frequently, yet the crypto market is experiencing a sharp decline—what's happening behind the scenes?

Federal Reserve Board member Waller recently stated that the employment market remains weak and that rate cuts are possible. On the surface, this should be a positive signal. But in reality, the market's reaction has been completely opposite.

The root cause is simple: the non-farm payrolls data released yesterday directly shattered the market’s dream. Only 64,000 new jobs were added, and the unemployment rate surged to 4.6%, hitting a four-year high. While this data is indeed disappointing, it is far from the "collapse" expected by the market. Institutional investors are waiting for worse data, hoping the Fed will cut rates significantly, but there are no such clear signals at the moment. The result? Funds are starting to withdraw.

The market performance shows: Bitcoin was directly pushed through the $86,000 level, with 24-hour total futures liquidation reaching $583 million, almost all of which were long positions being liquidated. The spot Bitcoin ETF in the US stock market saw a net outflow of $357 million yesterday, and Ethereum ETFs also saw outflows of $225 million. Large capital is fleeing, and this signal is very clear.

The technical situation is even worse. The Fear & Greed Index has fallen to 11, entering the "Extreme Fear" zone. Among the top 100 cryptocurrencies, 75% have broken below the 50-day and 200-day moving averages, indicating a bearish technical trend. What does this mean? The decline may not be over yet.

The current market state can be summed up in one word: panic. But there is logic behind this panic. The macro narrative has shifted from "Can inflation cool down?" to "Will employment completely collapse?" Without clearer recession signals or rate cut commitments, any rebound could be very fragile.

So, what should we do now?

First, don’t rush to buy the dip. Market sentiment and technical indicators are warning of downside risks; protecting your capital is always the top priority.

Second, pay close attention to upcoming key data. When CPI, initial unemployment claims, and other indicators are released, the market may experience intense volatility. These are the real turning points.

$RAVE And for other cryptocurrencies, be especially cautious during this period. Opportunities do exist, but they are opportunities created by declines. Before market sentiment and capital flows clearly turn, going all-in is like walking into a flying knife.

There are always opportunities in the market, but staying calm is always valuable.