In December, the US non-farm payrolls data was just released, showing an increase of only 50,000 jobs, well below market expectations. Even more disappointing, the October data was sharply revised downward to -173,000, making this year’s employment growth the worst outside of recession years.

As soon as this data was released, the market’s reaction was a textbook example of "bad news is good news." Many people might be confused at first glance, but for crypto traders, the logic is quite clear: weakening employment market → Federal Reserve has more solid reasons to cut interest rates → market liquidity expectations warm up → risk assets receive more capital. BTC and ETH responded quickly, showing noticeable gains in a short period.

Although the unemployment rate slightly decreased to 4.4%, many industry analysts believe this figure may be subject to statistical distortion. More important are the signals that wage growth remains moderate and inflation pressures have not sharply accelerated. These signals give the Federal Reserve more room to adjust its policy stance, and dovish voices are growing louder.

Essentially, the "bad news" on the economic front is evolving into a primary driver for the crypto market. Once liquidity expectations fully reverse, the upward momentum of the entire market could be far greater than expected. This current rally has already validated that.

What are your thoughts on how this non-farm payroll data will influence future market trends? Can Bitcoin continue to strengthen on the back of these policy expectations? Feel free to share your views and price predictions in the comments.