Tonight at 21:30 Beijing Time, the US December employment data will be released as scheduled. This data is almost impossible to overestimate in importance for the current crypto market.

The two most closely watched indicators are the US unemployment rate and non-farm employment figures. Currently, the consensus forecast shows an unemployment rate of 4.60%, with the market generally expecting a slight decrease to 4.50%; meanwhile, the quarterly adjusted non-farm job additions forecast has been lowered from an initial 64,000 to 60,000. These numbers may seem small, but they reflect deep market concerns about economic slowdown.

Why would these two figures trigger market reactions? Simply put, US employment data is a key indicator for the Federal Reserve's monetary policy, directly influencing the dollar's trend—which in turn is a critical variable in determining the short-term momentum of mainstream cryptocurrencies like Bitcoin and Ethereum. An increase in unemployment or weaker-than-expected non-farm data usually boosts risk aversion sentiment, benefiting crypto assets. Conversely, the opposite is also true.

Many traders have already positioned themselves ahead of this moment. When the data is released, the market is likely to experience sharp volatility. If the actual figures are significantly lower than forecasts, it could trigger a chain reaction—from forex markets to stock markets and then to crypto markets, one after another.

Tonight at 21:30, stay tuned. This could be the most catalyzing data release in recent times.