tonight's non-farm payroll data significantly exceeded expectations, fundamentally indicating that the US economy remains strong, and market expectations for a rate cut in June have been further compressed.

Strong employment → Inflationary pressure hard to reduce → Rate cut postponed → Liquidity expectations tighten.

At the same time, such data usually benefit US Treasury yields rising and the dollar strengthening, which suppresses high-elasticity risk assets.
As for whether this is good or bad for the crypto market, the logic is already very clear.

The recent surge was more like a temporary capital inflow after the negative release of sectors like non-ferrous metals, rather than a trend reversal.
As US stocks open, risk appetite declines, and the market also remains honest.

Do not get self-congratulatory in the face of trends.
The market will not rise because of "hope," only because of "funds."
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