#美国就业数据表现强劲超出预期 regulatory certainty + policy shift, two key highlights of the crypto market

A recent action by the UK is worth noting - it has clarified the status of crypto assets as legal property. This is crucial for mainstream coins like Ethereum, as it directly lowers the compliance threshold for institutional entry. Large funds such as pensions and hedge funds had many concerns before, but now they have fewer. The advancement of Ethereum spot ETFs is also being re-evaluated, and market enthusiasm has clearly increased.

Another major variable is the Federal Reserve. The policy orientation of the new chairman is still in play, which determines the tightening or loosening of future liquidity. If the policy moves towards easing, risk assets (including encryption) will benefit; otherwise, they will face the pressure of tightening liquidity. This area needs to closely monitor policy signals.

Looking ahead to 2026, the global economic environment is actually quite complex. The inversion of U.S. Treasury yields has lasted a long time, and with the adjustment of employment data, fluctuations in consumer credit, and the impact of midterm elections, the uncertainty in the economy will be relatively high, and market volatility may be amplified. The connection between the crypto market and the macro economy, as well as the policy cycle, has clearly strengthened, and it is no longer an isolated market.

From the perspective of the market ecosystem, institutional funds have become the main driving force behind encryption assets, and the market has gradually evolved from a purely speculative cycle to a stage of fundamental and institutional scale. This is a big shift. For ordinary investors, it is still important to be rational and make allocation decisions after thorough research, and not to be bound by short-term fluctuations.

The performance of these assets reflects, to some extent, the market's judgment on regulatory expectations and capital flows. Do you value the certainty of regulatory aspects more, or the direction of macro policies such as those from the Federal Reserve?