The latest nonfarm payroll data has exploded again! Is the job market really heading for a total freeze?

Just saw Revelio Labs' forecast: US nonfarm payrolls are expected to decrease by 9,000 in November. What’s even more shocking is that the October numbers were sharply revised downward—from the previous 9,100 decrease slashed directly to a 15,500 drop! This kind of collapse for two consecutive months really makes you wonder if there’s a true problem with the economy.

The Fed is probably feeling pretty conflicted right now. With the job market this weak, calls for rate cuts will definitely get louder. But the real question is—are we looking at short-term fluctuations, or is this the prelude to a recession? If it’s the latter, then a simple liquidity injection won’t be enough to solve it.

For the crypto market, this is a bit tricky. On one hand, rising expectations for rate cuts mean liquidity could loosen, which in theory is bullish for risk assets like Bitcoin. On the other hand, if the economy really has a hard landing and traditional capital shifts to risk-off mode, it’ll be tough for crypto to remain untouched. Similar situations have happened in the past, but market reactions have never been quite the same each time.

So the question now is: will this data push the crypto market to rally ahead of time, or is this just a brief calm before the storm? Honestly, no one can say for sure. The market always puts on a bigger show than you’d expect. What do you guys think will happen next?