#美国非农就业数据未达市场预期 Market Review: Non-farm employment data came in weaker than expected, with a slight decrease in unemployment rate further intensifying market concerns about Federal Reserve rate cuts, putting pressure on risk assets. On the industry dynamics front, there are also notable developments — a16z Crypto announced that crypto is entering the "infrastructure era," predicting that prediction markets and verifiable computation are poised to reshape the entire ecosystem landscape; UK regulators plan to launch crypto licensing applications in September this year, and Grayscale has also rolled out HYPE ETF in Delaware, with these signals all pointing toward accelerated institutional-level adoption.

From a technical perspective, $BTC is oscillating repeatedly near the daily support level, with the four-hour chart having broken below the Bollinger Band midline, while smaller timeframes maintain a bearish structure. Rebounds around the Bollinger midline and support level are followed by pullbacks, with relatively thin liquidity. Precious metals continue their strong momentum, with geopolitical factors providing support for gold.

$BTC reference range for today: On the downside, watch support levels at 90000, 89000, 88500, with resistance overhead near 91500, 91900. For $ETH, support levels to monitor are 3060, 3000, 2952, with resistance levels around 3140, 3170.