#Gate广场四月发帖挑战 Non-farm payrolls beat expectations significantly as oil prices rise, while the crypto market adopts a light-position, low-leverage approach.

1. Non-farm payrolls far exceed expectations (178,000 vs 60,000), directly dousing expectations for a Federal Reserve rate cut; the probability of a rate cut in June is nearly zero.

2. Both the US dollar and US Treasury yields rise; funds flow back from risk assets like BTC/ETH into US dollar cash, putting short-term pressure on the crypto market and driving it lower.

3. High interest rates are likely to stay elevated for longer; liquidity is drained from the crypto market, causing major coins to trade sideways but weaker, while altcoins see even larger declines.

4. Looking mid-term: If oil prices break above 120 and stagflation risk combines, the crypto market will further cut valuations; only easing inflation together with a restart of rate cuts can reverse the trend.