After the US non-farm payroll data was released below market expectations, this signal warrants serious consideration.

As a barometer of the employment market, the performance of non-farm data directly reflects the true temperature of the US economy. When the data falls short of expectations, it usually indicates that the momentum of economic recovery is waning. In such cases, the Federal Reserve's policy stance comes under pressure—markets begin to speculate whether the pace of future rate hikes will slow down.

This shift in expectations immediately impacts multiple asset classes. Traditional assets like US stocks, US bonds, and gold face re-pricing, with volatility increasing accordingly. In this macroeconomic context, cryptocurrencies, as risk assets, will also experience noticeable shocks. On one hand, expectations of rate cuts may boost risk appetite; on the other hand, concerns about economic weakness can easily trigger risk-averse sentiment.

The key question is how to interpret this situation. Some may choose to take advantage of the market adjustment to position themselves, betting on a policy shift; others prefer to wait for more data confirmation and adopt a cautious, risk-averse stance. Both approaches have their logic, but ultimately it depends on how deeply you interpret this economic cycle.

What are your thoughts? Is this round of weak non-farm data a temporary fluctuation or a trend signal? Do you have any specific strategies in mind?