Beijing time January 9th 21:30, the US December non-farm payroll report will be released. The market expects about 60,000 new jobs (previously 64,000), and the unemployment rate may drop to 4.5%; the forward-looking ADP data shows only a 41,000 increase, which is below expectations, indicating a soft employment market.

Core impact logic: The "difference" between the data and expectations is key—below expectations will strengthen the Fed's rate cut expectations, bearish for the USD and bullish for gold; above expectations will suppress rate cut expectations, putting pressure on gold.

Bitcoin swing trading: refer to the 91,500-92,000 range for short positions, with a target of 89,600-87,800.

Ethereum short positions are synchronized, with a range of 3,160-3,190 for shorting, aiming for 3,100-3,000.

Retail investors: focus on the data and expectation gap, follow the trend after the non-farm payroll release, do not enter blindly in advance, and strictly adhere to risk control.