#加密生态动态追踪 $ETH $BNB $ASTER

The unemployment rate suddenly jumped to 4.6%, which should have scared investors based on common sense. But what happened? The market instead started considering interest rate cuts🔄.

Last night, when the US November non-farm payroll data was released, the unexpected employment weakness was immediately re-priced by the market—expectations for the Federal Reserve to continue cutting rates next year were reignited. The two-year US Treasury yield responded by falling, and market sentiment clearly shifted.

Crypto markets have been buzzing for a while: some research institutions boldly claimed that Bitcoin will break the four-year cycle pattern, and spot ETFs might absorb most of the new supply; trading data from a major exchange also didn't stay idle, with both spot and futures trading volumes hitting new records; on-chain analysts did warn that BTC might retrace to around 80,000, but their focus wasn’t on panic—it's on the idea that "dips are opportunities," especially when institutions are quietly adding to their positions⚙️.

However, macro factors still hold some drama. Although the White House emphasizes the independence of the Federal Reserve, debates over the pace of rate cuts are ongoing. The market itself is navigating through these disagreements.

The most practical approach right now is actually simple: don’t rush to chase high prices, wait for better entry points. Emerging meme projects within the Ethereum ecosystem have been hotly discussed in the community lately, and PUPP IES is one of them. The basic logic of a bull market hasn’t changed; it’s just that the road won’t always be smooth.

What’s your view on this market trend? Let’s chat.