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If Trump is really critically ill or has passed away as rumored on Twitter, how would Dogecoin's trend be affected?
Setting aside the truth of the rumor for now, the impact path of such an event on Dogecoin is clear and predictable. Trump's connection to the crypto market lies in two layers: policy and narrative—strategic Bitcoin reserves, regulatory easing, and family crypto projects have formed the bullish confidence over the past year. Once his personal risk materializes, expectations for policy continuity will be shaken, putting pressure first on Bitcoin and Ethereum, and Dogecoin will not be able to remain unaffected.
Dogecoin also has a unique transmission chain, which is Elon Musk. The government efficiency department named DOGE, and the White House's cooperation with Musk has long been part of this coin's narrative. After a power transition, this relationship becomes questionable, and the narrative support weakens accordingly. Historically, sell-offs triggered by political figures' health events usually last several days, with the market stabilizing after new leaders release policy signals. Vance is friendly toward crypto assets, and the regulatory framework will not shift overnight, so there is a basis for medium-term recovery.
The real issue lies with $DOGE itself. It has no cash flow or fundamentals as an anchor; its pricing is driven by community enthusiasm, celebrity actions, and payment expectations. Under the same event shock, its volatility will surpass that of mainstream coins. The conclusion is clear: in the short term, watch the depth of emotional stampede; in the medium term, watch policy continuity; in the long term, it still relies on the old logic of survival through hype. The event amplifies volatility but does not change the pricing method.🚨Nonfarm payrolls completely blew past expectations, the market is repricing!
August added 162,000 jobs, expected only 56,000, nearly three times the forecast; more importantly, July was revised from -23,000 to +21,000. The unemployment rate held steady at 4.1%, indicating that US employment is not as weak as imagined.
This is definitely not good news for BTC and ETH in the short term.
🔥Strong employment = cooling rate cut expectations = rising US Treasury yields = pressure on risk assets.
After the nonfarm release, the probability of a rate hike in September clearly increased, temporarily interrupting the dovish rebound logic brought by Waller's earlier comments due to strong employment data.
But note: **A rate hike is not yet 100% certain.** The Fed will ultimately watch upcoming CPI, core inflation, and financial conditions.
So now BTC focuses on two levels:
🛡️80,000: Holding this means bulls still have a chance to fight back; ⚠️breaking below 80,000: first look at 78,000, then around 75,000.
ETH is closely watching 2,450; losing this level will further weaken the short-term structure.
Tonight's real risk is not this big bearish candle, but if strong employment and high inflation occur simultaneously, the market will further compress easing expectations.
Don't rush to bottom-fish, wait for the market to digest the data first.
Do you think BTC can reclaim 80,000, or is this really the start of a second dip?👇
#BTC兑黄金比率升至1月以来高位，强势能否延续？ #OKX预言家：9月FOMC利率决议预测上线 #BTC to gold ratio rises to the highest level since January, can the strength continue?
#August nonfarm payrolls at 162,000 far exceed expectations, rate hike bets heat up The most interesting part of the current crypto market is here. On one side, the $BTC to gold ratio is strengthening again, and the market is starting to discuss whether $BTC is about to reclaim the narrative of "digital gold";
On the other side, August nonfarm payrolls poured cold water on the market—new jobs at 162,000, far exceeding expectations, with clear warming of rate hike bets in September. Strong employment + high interest rate expectations are not good news for high-volatility risk assets like $BTC, $ETH, and $SOL. (Reuters)
$BTC being strong does not mean $ETH and $SOL will necessarily follow;
An increase in the $BTC to gold ratio does not mean the entire crypto market has entered a one-sided bull market.
What really matters is whether $BTC can hold key levels after macro pressures heat up again.
If $BTC can still hold on, or even break through previous highs again, it means capital is telling the market with real money:
"So what if rates rise? I still want to buy $BTC."
But if the dollar strengthens, bond yields continue to rise, and $BTC breaks support first, with $ETH and $SOL amplifying volatility, then this rally may just be a risk appetite rebound rather than confirmation of a new bull market.
So from now on, I’m only watching three things:
$BTC to gold ratio
US bond yields
The relative strength of $ETH and $SOL against $BTC Everyone, the BTC to gold ratio has hit a new high; one BTC can now be exchanged for about 18.17 ounces of gold, the highest since January. The 90-day correlation between the two has also risen to the highest level since 2020, as concerns over debt expansion and declining monetary purchasing power are simultaneously affecting both asset classes.
This ratio reaching this level is more about liquidity expectations fermenting rather than BTC itself replacing gold's safe-haven status. The logic behind their movements is different—gold is influenced by real interest rates and central bank allocations, while BTC is driven by liquidity improvement expectations and ETF buying. A short-term increase in correlation does not imply long-term substitution.
Market divergence is also increasing. Yi Lihua and Scaramucci are optimistic about the bull market narrative of scarce assets, while Jiang Zhuoer completely exited near 82,050. Both bulls and bears raising their hands simultaneously is not a bad thing; it shows the market is still in a game of tug-of-war without forming a one-sided consensus.
What truly determines whether BTC can continue to outperform gold is not the macro narrative but whether spot demand can absorb the sell orders around 80,000 to 82,500. If ETF and spot buying can keep up, BTC's strength relative to gold can continue. If buying dries up, this ratio will have to pull back.
Above 80,000 is a dense chip area, and every step requires real money to digest. Let's watch as it moves and talk again when the direction is clear. How far do you think the BTC-gold linkage can go? Let's discuss in the comments. Wishing you smooth trading. $BTC $XAU $USELESS Nonfarm payroll data far exceeds expectations, quickly rewriting the short-term crypto market trend
At 20:30 in the evening, the US nonfarm payroll data was officially released, showing an increase of 162,000 jobs, far surpassing the market expectation of 56,000 and the previous value of only 21,000, with the data difference reaching three times. The unemployment rate of 4.1% met market expectations, but the average hourly wage annual rate of 3.1% slightly exceeded the expected 3%, indicating strength in both employment and wages.
The data directly impacted the crypto market, with BTC quickly dropping from 81,000 to 79,695, a daily decline of 2%; ETH fell from 2,530 to 2,446, expanding the decline to 2.79%. The upward gains accumulated from the previous large bullish candle were almost entirely wiped out by this set of nonfarm data.
Wash previously stated that inflation CPI data would determine whether to raise interest rates, and this strong employment report directly adds significant weight to the case for a September rate hike. The market has begun to reprice Federal Reserve policy, with short positions concentratedly released, causing a clear short-term shift in market sentiment.
Key defensive levels on the chart need close attention: BTC's 80,000 and ETH's 2,450 are lifelines that bulls must hold. If these two thresholds are effectively broken, the downside could further target 78,000 and 2,400, opening up more room for correction.
This nonfarm data has directly extinguished the market's earlier optimism. Macro risks have risen again, and market volatility will further intensify. In trading, quick reactions to data are necessary; one cannot stubbornly hold onto previous bullish views. The market changes rapidly, and timely adjustments to trading strategies following the market are essential to avoid large drawdown risks.
$BTC $ETH $ZEC
#8月非农16.2万远超预期，加息押注升温 During the Beijing time trading session tonight, the semiconductor sector collectively rebounded.
The Philadelphia Semiconductor Index rose about 3%, Seagate surged over 5%, ASML and Micron increased nearly 4%, and Intel rose nearly 3%.
This wave is mainly driven by the warming expectations of AI capital expenditure: cloud providers are still buying servers, and storage demand and prices continue to support the industry chain. Stocks that fell more earlier naturally rebound more fiercely when funds return.
Storage moves first, followed by equipment and chip design catching up.
Intraday data changes quickly; please refer to real-time market quotes.Nonfarm payroll data significantly exceeded expectations, and market sentiment quickly shifted
The evening nonfarm employment data was released as expected, showing a much stronger performance than market expectations. Nonfarm employment increased by 162,000, while the market expected only 56,000, and the previous value was 21,000, with the actual figure nearly three times the expectation; the unemployment rate was 4.1%, in line with market forecasts, and the average hourly earnings annual rate was 3.1%, slightly above the expected 3%, demonstrating strong resilience in the labor market.
Following the data release, the market quickly came under pressure, with BTC dropping rapidly from 81,000 to 79,695, a daily decline of 2%; ETH simultaneously fell from 2,530 to 2,446, a drop of 2.79%. The gains accumulated from the previous large bullish candle were almost entirely wiped out by this nonfarm data.
Wash previously stated that inflation CPI would determine the path of rate hikes, and this hot employment data further raises the stakes for a September rate hike. The market is beginning to reprice Federal Reserve policy expectations, with bearish forces taking the opportunity to release pressure, and the short-term market structure has already changed.
Currently, bulls must hold two key support levels: BTC at 80,000 and ETH at 2,450. If these two supports hold effectively, there is still room for a corrective consolidation; if they are effectively broken by bears, the downside targets are 78,000 and 2,400.
This round of strong nonfarm data has directly extinguished the previous market optimism. Macro trends change rapidly, and market reactions are very fast. Being able to read signals in time is essential to avoid most drawdown risks. Going forward, it is necessary to continue closely monitoring inflation data, as every change in Federal Reserve policy will bring intense volatility to the crypto market, so position management must be well maintained.
$BTC $ETH $ZEC
#8月非农16.2万远超预期，加息押注升温 #HOOD收涨创年内新高, On-chain revenue ranks first among public chains $HOOD On September 3, the brightest player in the US stock market was neither Nvidia nor Tesla, but the "retail investor stock trading app" that many people remember—Robinhood (HOOD). It surged about 15% in a single day, leading the S&P 500 and surging above $123, rebounding more than 20% from the mid-August low. What's even more interesting is that this rally was not a retail frenzy, but was ignited by Wall Street itself. The three major investment banks collectively hit the numbers within three days. On September 1, Morgan Stanley raised Robinhood's target price to "Overweight," raising its target price from $124 to $150 in one go. The reason was: its growth engine was no longer limited to crypto and stock trading; it now had retirement accounts, banks, credit cards, advisory, and prediction markets—so many new businesses that it hardly felt like a brokerage. Immediately after, Scotiabank of Canada covered the price for the first time by setting a $136 price target, bluntly admitting the market misjudged it; Piper Sandler also raised its target price to $145. The three investment banks raised their prices intensively, essentially the same thing: Wall Street is repricing Robinhood—from a "retail broker relying on luck" to a "full-stack financial platform." The real trump card: Prediction Markets The core logic behind this rating upgrade is a business many people haven't yet realized — Prediction Markets. Simply put, it makes you bet on "future events": election results,After the US August nonfarm payroll release tonight, BTC quickly retreated from around 82,000 USD, falling below 79,000 again. But my conclusion is not that "the bull market is over," but rather: BTC is increasingly in a critical confirmation phase of "whether the bull market is over," rather than an ordinary upward correction. I won't define this as the start of a new bull market, nor will I be bullish just because of ETF inflows and macro positives. Today's data is indeed crucial: US August nonfarm payrolls increased by 162,000, far above the market's previous expectation of about 53,000–56,000, and the unemployment rate remained at 4.1%. After the data came out, US Treasury yields rose, raising the probability of a September rate hike again, and BTC subsequently fell below $80,000. What I'm most concerned about now isn't the "79,000" but why BTC is so easily slashed down near 82,000. This question is much more important than simply looking at a nonfarm payroll candlestick. A few days ago, after Waller's dovish speech, BTC quickly surged from about 77,000 to above 82,000, and on September 3, the US spot BTC ETF saw a net inflow of about $731 million, the highest single-day inflow since January. In other words: there are plenty of positive news. But the problem is: despite such strong positive news, BTC still cannot effectively break through 82,000–83,000. More positive news is increasing, but the price reaction to the positive news is weaker.The "On-Chain Tax" Trap of ARB: Don't Mistake Rent for Profit
Robinhood Chain's "Catfish Effect" has revitalized the Arbitrum narrative, with on-chain data looking as good as a bull market comeback. But we must calmly break down the accounts: on-chain Gas fees primarily flow to sequencers and validators, not the ARB treasury. The DAO currently only shares a portion of the "toll fees" governance cut, constrained by a dynamic fee mechanism—far from the "money printing machine" the market portrays.
The market tends to equate "ecosystem prosperity" directly with "token appreciation," missing the crucial distribution logic in between. ARB holders are more like "shareholders" than "landlords"; profits must be filtered through protocols, governance votes, and operational interception. Without clear insight into the "fee ownership difference," it's easy to mistake someone else's revenue as your own dividends.
The real value pivot of this wave lies in whether the L2 tech stack can make money by "renting out." If Orbit can prove "chain issuance equals rent collection," Arbitrum's valuation model will shift from "stacking users" to "selling financial infrastructure." At that point, ARB's value capture will no longer depend on emotional tides but will be rooted in the on-chain economy's genuine willingness to pay for underlying order. Don't be blinded by short-term bills; focus on the long-term land lease contracts.
#Robinhood链放量，ARB收入叙事升温 #8月非农16.2万远超预期，加息押注升温
Tonight's session, the appetizer just started, but the table was already flipped.
Nonfarm payrolls at 162,000 not only crushed expectations but also erased July's negative growth revision.
The "employment too weak, no rate hike" card is temporarily off the table for the market.
After the data release, BTC dropped from 81,300 to below 80,000, ETH plunged from 2529 to 2435 at its lowest. It's normal for ETH to fall harder; when risk appetite shrinks, it always moves faster than BTC.
But once the US stock market opened, SanDisk surprisingly surged from around 1580 to 1660, with Micron, Western Digital, and Seagate also rising together.
This isn't because the nonfarm data suddenly favored storage, but because they are following their own storyline.
SanDisk had already risen pre-market; the real spark came from their longtime partner Kioxia, calling AI storage a "once-in-a-lifetime major transformation," showcasing BiCS10 and AI high-speed SSDs. Both companies are tied to the same NAND R&D and production line, and combined with the sector's recent rebound after a sell-off, funds simply lifted the entire basket.
However, no matter how strong the appetizer is, it can't replace the main course.
Wages rose 0.3% month-over-month without overheating; next week's CPI is the real reckoning.
If inflation cools, BTC has a chance to return to 80,000, and ETH's rebound potential is even greater; if inflation stays hot and US bonds rise again, ETH will have to take the hit first.
SanDisk's story is solid, but with interest rates tightening, no matter how fast it runs, it could be pulled back.
Nonfarm payrolls are responsible for flipping the table; CPI will decide who pays the bill for this meal. As soon as the non-farm payroll data came out, BTC immediately dropped several thousand points, and ETH followed suit, causing a wave of wailing in the group chat.
I switched to $OKB and saw it hovering between 106 and 111, barely moving, acting like nothing happened. Watching the OKX order book gave me a bit of reassurance.
It's not that OKB is completely unaffected by macro factors, but its logic differs from BTC and ETH. BTC and ETH are currently traded as macro assets; when interest rate hike expectations rise, funds flee first. But very few OKB holders are here because of the non-farm data. We focus on OKX's ecosystem, fee buybacks, Launchpad, and other tangible factors. As long as the platform is profitable, the demand for OKB remains, and short-term sentiment can't shake it.
The trading volume is probably still around the same, over ten million, with no one rushing to exit or panicking. This kind of "no significant change" might seem boring to others, but to me, it's a safe haven. When the market is thrown into chaos by data, OKB's insensitivity is actually valuable.
So now I increasingly feel that having some $OKB in my portfolio is like holding a ticket to a rest area. The outside world may be stormy and turbulent, but it sits here steadily. I don't expect it to make me rich overnight, but at least it lets me sleep well at night.#Long-term US Treasury yields remain high, debt pressure intensifies
The leader has something to say
The 10-year US Treasury yield has surged to around 4.8%, and the 30-year yield continues to stay above 5%. Federal debt has surpassed 40 trillion, with the triple pressures of deficit, long-term debt supply, and inflation expectations weighing down simultaneously.
High yields mean rising costs for mortgages, corporate financing, and government interest payments, which will continue to suppress risk asset valuations. Bitcoin fell below 80,000 tonight, directly related to this backdrop.
However, expectations for rate hikes are cooling down; after Waller's speech, the probability of a September rate hike dropped from 70% to about 50%. If subsequent employment or inflation data weaken, there is room for long-term rates to fall. As long as debt supply and inflation risks remain, high rates will continue to pressure risk assets.
I have three positions in hand. The average price is around 78,200 long positions, with a stop loss at 75,000. Profits from two short positions at 81,000 have been taken. $BTC $ETH $ZEC
If US Treasury yields do not fall back, Bitcoin will find it hard to surge all at once. Do not chase sharp rises; wait for confirmation.
The above analysis is time-sensitive; positions must have stop losses set. Good luck.The biggest current real contradiction in the crypto circle comes from the combination of the Trump administration and Federal Reserve Chairman Waller. One fully embraces the crypto industry at the administrative level, while the other holds the power of monetary policy and insists on a hawkish monetary stance. The struggle between the two directly determines Bitcoin's medium- to long-term trajectory.
As president, Trump has given the crypto industry a green light on the regulatory front. He promoted the CLARITY Act to clarify regulatory responsibilities, signed an executive order to establish a national Bitcoin strategic reserve, ensured the government would not sell or confiscate Bitcoin, pushed for stablecoin legislation, and revoked past restrictive policies against crypto. The goal is to make the U.S. the global crypto hub. Once the legislation is implemented, it will continuously improve industry institutional expectations and benefit spot ETF capital inflows, which is a long-term policy dividend for Bitcoin.
But the real pressure on the market comes from Federal Reserve Chairman Waller. Waller himself does not reject crypto assets and acknowledges that crypto has become part of U.S. finance, but his monetary policy stance is tough: prioritizing inflation suppression, insisting on balance sheet reduction, being very cautious about rate cuts, and even keeping the option of rate hikes. After his Jackson Hole speech, the market repriced the probability of a September rate hike, U.S. Treasury yields rose, directly triggering this round of Bitcoin's sharp decline.
Here lies a core split: Trump is friendly to crypto policy, but Waller's high interest rate environment continues to suppress risk asset prices. The policy is favorable, but liquidity tightening offsets the policy benefits. This is also the root cause of the recent repeated volatile declines despite continuous positive news.
Do you think Waller will become the next Powell, ignoring Trump's criticisms?This non-farm payroll data combination is quite special: employment performance exceeded expectations, but wage growth has slowed down. The market is pricing in a potential soft landing for the economy, though there will be significant divergence in performance across various sectors.
The positive outlook is concentrated in high-valuation technology and AI growth sectors. Weaker wage data indicates easing inflationary pressure, raising market expectations for Federal Reserve rate cuts. With discount rates declining and future earnings value rising, growth stocks like Nvidia, software, and cloud computing have stronger upward momentum.
Meanwhile, banks and cyclical sectors are showing weaker trends. Rising rate cut expectations will squeeze banks' net interest margins, pressuring profitability; solid employment data also means no large-scale stimulus policies, leaving resource and industrial cyclical stocks lacking upward drivers.
Currently, the market favors a moderately cooling economy—neither forced to continue rate hikes due to inflation rebounds nor rapidly sliding into recession. The focus of capital competition is not an immediate rate cut but a shortened duration of high interest rates. If inflation continues to decline, the AI technology theme will keep leading; if employment remains strong long-term, delaying rate cuts, the upside for U.S. stocks will be limited. $BTC $ETH $ZEC #8月非农16.2万远超预期，加息押注升温 The most dangerous moment on the chessboard is not when the opponent's king's wing shows a crack, but when the referee suddenly announces: from this move onward, the parchment recording the game will be replaced by verifiable on-chain coordinates—each move recorded on the ledger, and any tampering will be betrayed by one's own handwriting during the endgame settlement.
This time, the U.S. securities regulators have revised the "transfer agent" rules, seemingly just trimming edges, but in reality rewriting the entire annotation standard of the game record. The record keepers sitting in the clearinghouse, managing shareholder registers, corporate actions, and ownership rights, are much like the old-fashioned referees who painstakingly transcribed each move in classic chess tournaments. In the past, stock issuance and transfer required manual transcription and double confirmation at every step; once the rules open the door to blockchain and electronic records, it means moving the game record from paper to a coordinate database. Moves, verification, and archiving are completed in the same dimension, blurring the boundary between player and referee.
True grandmasters never focus on whether a move is beautiful, but on how rule changes recalculate every line of the rear wing. In the paper era, proof of holdings relied on signatures, seals, and overnight courier—equivalent to waiting for the referee to rearrange the board after every move; in the chain-recording era, the true state of every pawn and bishop on a side’s position is exposed in a publicly verifiable database. The game can be interrupted, but the record will never split.
On the same day, the roundtable for 24/7 trading was also brought to the table. The old New York main board, Nasdaq, BlackRock, Robinhood, Citadel, and DTCC sat at the same long table discussing the same issue: when the game is no longer closed, will the low-light conditions at night give rise to another set of weaker strategies? Daytime is slow chess in a formal hall, while nighttime is a continuation of high-speed blitz chess; market makers’ inventories are pawns crossing the river at any time, and clearinghouses are the only opportunity for castling. Liquidity seems liberated by time, but at some 3 a.m., a cancellation storm could push the midgame directly into an unsolvable endgame.
This dual-layer transformation reflected on the on-chain mirror token $xTSLA is closer to a multi-faceted simultaneous performance. Tesla on the main board is the main game, the on-chain projection is another chessboard; the price difference between the two boards is evidence of the "game record rhythm" mismatch between the two referee systems. If the old ledger is replaced by trusted electronic records and on-chain issuance obtains a legitimate score, then the price gap on this mirror board will structurally narrow—but if the sequence is misordered, sacrificing pieces is not strategy but overconfidence.
The rules are still in consultation, meaning players have just received the draft of the new game book, and no one dares to try unverified new variations in the midgame. Institutions, no matter how prepared they claim to be, remain physically in the opening stage: first watching who will guard the king’s castle at night after the clearing window withdraws from the central pawn line.
I stare at the new edition of the game record on the board: the true master is not the one who seizes the attack under the 24-hour bright lights, but the one who, when all original signatures and seals are replaced by digital signatures, still has the ability to prove that every game record retains the original weight at the time of the move. #secmarketmodernizationExpected 55,000, actual came out at 162,000, nearly three times higher, the probability of a rate hike shot up directly to 60%, the non-farm payroll kicked hard. Even more embarrassing is that July was revised upward to positive, all the previous analysts shouting about employment collapse are silenced. Unemployment rate stayed at 4.1%, wages rose moderately, employment is truly hot. Gold instantly fell below 4400, the dollar and US bonds jumped together, $BTC as a risk asset took a hard hit first. But no matter how strong the non-farm payroll is, it’s just a door opener; next week’s CPI is the real decision maker. If inflation follows through, a September rate hike is basically locked in, so the crypto world’s comfortable days need to be spent sparingly #8月非农16.2万远超预期，加息押注升温 $XAU The load-bearing walls of this building are still being poured with concrete, yet the developer has already sold the presale units at a sky-high price of 21 billion USD.
I stand outside the construction site's safety line, squinting to examine this project named Polymarket. Have the architectural construction drawings been leaked? — No. The so-called $300M injection from 1789 Capital even has the contract signing date still hanging in the air, electrified. The owner only released an extremely flashy model room rendering: elections, sports, economic data, everyone can place bets on their own predictions. The graphic design is dazzling, more like a neon tent of a betting carnival than a municipal hall with structural logic.
But I’m not a decorator. I look at the foundation piles.
First check: the whitepaper, the blueprint. They call themselves a prediction market, operating under independent market rules and autonomous governance structure — okay, at least they intend to build a landmark with a 70-year property right, not a roadside tin shack. But what does page 18 of the blueprint say? They are building self-balancing piles on a soft regulatory foundation, while firmly preserving autonomy. In industry jargon, this is called challenging the limits of geological survey.
Second check: regulation, which is the fire safety code and planning red lines. Betting hundreds of millions on election markets is like installing gilded lightning rods on tower cranes during a thunderstorm — flashy, expensive, reaching skyward, but no one can guarantee lightning won’t strike exactly at your weld seam. The White House father and son joining the shareholder diagram — is that an excellent feng shui endorsement? — I’ll put it this way: hiring political celebrities as gatekeepers doesn’t equal obtaining land use change permits; it only shows the sales office knows which flower pots attract distinguished guests.
Third check: liquidity. This is even more subtle. Short-term trading volume is like the tower crane spinning rapidly, bustling with activity. But the long-term moat is the vertical elevator’s capacity and the width of the emergency stairs. Insiders know well that relying solely on speculators who buy and sell quickly is like a crowd at a holiday fireworks festival — who remembers the empty streets the next morning? Floors that can’t support real value will ultimately end in skyrocketing property maintenance fees.
Interestingly, they wrote independent market rules and governance on the honor wall but threw real user growth into the basement. I heard there are also precious metal tokens linked to the market, using gold’s eternal quality to add bricks and tiles to the crypto plot — purely like sticking marble tiles on an illegal building’s facade. Beautiful yes, but whether the load-bearing walls contain any scrap rebar, no one knows.
I look up to estimate the wind load on this virtual building. Among the surrounding candidate events are the confrontation between Kalshi and Polygon, the suspended pendulum of regulatory bills, and Musk’s new mining rigs turning into AI power plants — all tangled wires in the city skyline.
The only question I want to ask the developer now, and the most architectural judgment: show me the internal test data of the load-bearing concrete you poured.
Or is the golden shine inside your ceiling itself the entire structure of this castle in the air? #polymarket21bvaluationNon-farm payrolls far exceed expectations, Bitcoin plunges instantly
Just now, the US August non-farm payrolls were officially released:
The market expected an increase of about 55,000 jobs, but the actual number came in at 162,000, nearly three times higher than expected, while the unemployment rate remained at 4.1%.
This is why as soon as the data came out, $BTC immediately dropped sharply from the highs.
The logic is simple.
The stronger the employment, the more confidence the Federal Reserve has to maintain high interest rates or even raise them, which is naturally short-term bearish for risk assets like BTC.
However, I will not turn bearish just because of this one data point for now.
BTC has already broken through 81,000 earlier; now let's see how this data shock is digested.
If it can reclaim 81,000 later, my previous judgment remains unchanged, and the next target is still 84,000. Yesterday, I took a short long position after checking whether the break of the demand zone had happened. The highest profit reached about six points. Seeing the pullback was light, I thought I'd wait for one more data release before deciding whether to close this position. Unexpectedly, the non-farm payroll data came out much better than expected and pulled the price down.
I originally thought to just let the loss go, but after looking at the data, the contract open interest has been high these days, and the price has basically been pushed up by institutional and whale spot buying. Logically, with so much spot inflow, the contracts should have been sold off almost completely before buying again; otherwise, wouldn't that just let retail bulls enjoy the ride? Combining today's data and Huang Mao's taco speech, I have a scenario: use the non-farm data to push down retail contracts, absorb spot at the bottom, and after accumulating enough, do a Tai Chi move with next week's CPI. Wouldn't that lower the rate hike expectations? Then Bitcoin will surge sharply, breaking through 83 on momentum. Anyway, I'm holding onto this short long position; otherwise, the price would drop below my stop loss at 2350, wiping out my profits and even losing principal $ETH $BTC Standard Chartered Bank is also entering the crypto business?
On September 3rd, Standard Chartered announced the expansion of its $BTC and $ETH spot trading services for institutional clients to the UAE. Clients can trade through the familiar forex trading interface and also choose custodians for settlement. This is an extension of their existing business in the UK.
This news might not be as exciting as "whales buying billions," but if you think about it carefully, the real hassle for institutions wanting to buy crypto often isn’t just placing the order.
Who holds the money, whether the counterparty is reliable, and whether internal compliance can be passed—if these issues aren’t resolved, no matter how optimistic the person in charge is, they might not be able to buy. By integrating trading into the bank’s existing services, at least clients willing to allocate funds have a familiar path.
Of course, launching the service doesn’t mean money has already entered the market, nor does it mean "Standard Chartered is bottom-fishing themselves." Whether there is new demand ultimately depends on how much clients actually trade.
I actually think this is more worth paying attention to than shouting a target price of tens of thousands of dollars. Target prices can be changed after being announced, but trading and custody services require real costs to operate.
While we ponder every day which trade can be bought at a low point, banks are thinking: whether you want to buy or sell, can this business go through me? We’re looking at the same market, but the money on their minds is really different.$BTC Nonfarm payrolls exploded. August added 162,000 jobs, market expectation was less than 60,000, actual value is 2.9 times the expectation. Unemployment rate at 4.1%, wage growth at 3.8% also exceeded expectations. The job market has not cooled down at all; instead, it is accelerating.
After the data release, the probability of a rate hike in September jumped from 50% directly to over 60%. Waller said just the day before yesterday that if the data is strong, a rate hike would be considered. The nonfarm data is very clear: employment has not cooled, inflation is unlikely to come down, and Waller's voting balance is already tipping towards a rate hike. The 10-year US Treasury yield is at 4.818%, hitting the highest level since November 2023. With employment data settled and far exceeding expectations, the Federal Reserve has little reason to remain inactive.
For BTC, the better-than-expected nonfarm data directly dispels rate cut fantasies, putting short-term pressure under a high interest rate environment. Above 85,000 is a short squeeze zone, but with rising rate hike expectations, breaking through is much more difficult. Bank of America called the nonfarm data an appetizer; CPI is the main course. If CPI also exceeds expectations, a September rate hike is a done deal, and BTC faces further downward pressure. If CPI unexpectedly weakens, rate hike expectations will be extinguished, and the market will reprice. Employment data is already settled, and the balance is tipping towards a rate hike. The direction hasn't changed, only the pace is changing. $ETH $Benjamin Cowen reiterates: The Bitcoin four-year cycle has not failed; the peak is still in the fourth quarter, with a bearish bias and no new highs in 2026. Data: The high point in October 2025 is $126,000, the low in February 2026 is $60,000, followed by three consecutive weeks of gains. The current price is $81,300, with a weekly increase of 5.12%. In one week of August, it rose 23%, the strongest in three years. Most people interpret this rebound as evidence that the "cycle is dead"; what is overlooked is that since the low of $63,000, it has only rebounded 29%, still 35% below the previous high. To overturn his framework, it would need to rise another 55% and reach a new high before October; the magnitude of the increase itself is not a refutation. The fuel structure is also key: this wave is driven by short covering and nearly $2 billion ETF net inflows in a single week. The former self-exhausts as prices rise, and the latter is a peak within the year, not the norm. The above is a personal opinion record and does not constitute any investment advice. Свежий отчет по рынку труда США оказался заметно сильнее ожиданий. И как следствие - дает ФРС дополнительный аргумент НЕ спешить со смягчением политики. Как это воспринял крипторынок - вы и сами видите по свечам. Обещанная повышенная волатильность - пришла. И если вчера она пришла зеленой, то сегодня - красной. Главные данные за август: - новые рабочие места вне сельского хозяйства: +162 тыс. против прогноза +55 тыс. и +21 тыс. ранее; - занятость в частном секторе: +127 тыс. против прогноза +45 花旗下调降息预期：美联储降息周期推迟至2027年年中启动 花旗将美联储降息周期起点从2026年10月推迟至2027年6月，预计2027年6月、9月和12月各降息25个基点，整体宽松节奏较此前预测推迟约8个月。 花旗在9月4日更新了对美联储货币政策路径的预测。调整后，花旗预计美联储将在2027年6月、9月和12月各降息25个基点，累计降息75个基点。而在此前的预测中，花旗认为降息将始于2026年10月，随后在2026年12月和2027年1月继续推进。此次调整意味着花旗认为高利率环境将持续更久，宽松周期的启动时点整体向后推迟约8个月，但降息的总幅度和方向并未改变。降息预期是全球流动性定价的重要锚点，投行对首次降息时点的修正，直接影响市场对美元流动性拐点的判断。对于加密市场而言，BTC和ETH的走势与流动性宽松预期高度相关，宽松预期延后通常意味着金融条件在更长时间内保持偏紧，风险资产的估值扩张和增量资金入场节奏都会受到抑制。不过需要强调的是，此次只是时点后移而非降息逻辑被推翻，中期宽松交易的基础依然存在。 市场影响： 流动性预期变化：宏观加密流动性 - BTC（比特币）：降息启动时点推迟约81. The most core wage data fully meets expectations, with no risk of an inflation spiral
This is the fundamental pivot for the current market reversal:
• The addition of 162,000 people is indeed nearly three times the expectation, but the average hourly wage rose 0.3% month-over-month and 3.1% year-over-year, exactly matching market consensus, with the year-over-year growth rate even falling 0.1 percentage points compared to last month.
• At the same time, the labor force participation rate rose to 61.6% (a new high in nearly a year), indicating that employment growth comes from increased labor supply (more people entering the market to find jobs), rather than overheated demand pushing wages up.
• What the market really fears is not strong employment, but the chain “strong employment → wage increase → inflation rebound → aggressive Fed rate hikes.” This transmission chain is now broken: employment is resilient, wages are moderate, inflation pressure has not risen, and the Fed has no reason to become more hawkish.
2. Previous values were significantly revised upward, completely dispelling “recession fears,” and earnings expectations were revised upward
The previous market pessimism anchor was the early July figure of -23,000, worrying that the job market was entering a downward channel or even heading toward recession, trading rate cuts on one hand while worrying about corporate earnings declines on the other.
This time, July data was directly revised from -23,000 to +21,000, and June was also revised upward, with a combined increase of 55,000 over two months—effectively declaring “there is no recession in employment, just a normal slowdown.”
For U.S. stocks, corporate earnings carry much more weight than a single rate hike: economic resilience = revenue support, low bankruptcy risk, and the upward revision of earnings expectations outweighs the slight valuation pressure from rising rates.
3. Rate hike expectations have long been priced in; data release = all bad news priced in
After the Jackson Hole meeting, the market had already priced in about a 50% chance of a 25bp rate hike in September, fully digesting hawkish expectations.
After this data release, Fed watcher tools show the probability of a September rate hike only slightly increased from 50% to 52.6%, with almost no incremental change. In other words, “at most one more rate hike” has been priced in by the market, no worse scenario has appeared, and uncertainty resolved, funds are instead flowing in.
4. Structural divergence: tech growth stocks are rising, pricing logic has shifted
Not all stocks are rising; leaders are semiconductors, AI hardware, and large tech stocks, while cyclical stocks and banks are flat.
The underlying logic shift: the market no longer believes “high interest rates will kill tech stocks,” but instead prices in “as long as the economy does not recession, AI capital expenditure and earnings growth can cover the cost of high interest rates.” The 4.8% 10-year U.S. Treasury yield hasn’t knocked down tech stocks; now confirming economic resilience actually strengthens the earnings logic for tech stocks.#8月非农16.2万远超预期，加息押注升温 下课看下月cpi吧 #8月非农16.2万远超预期，加息押注升温
babala made money today by switching to US stocks $AAPL
I opened a short on AAPL at 326, and now the price has returned to around 322.
Today, Apple opened above 328, reaching a high of 328.75, but it couldn't hold the high and then fell back steadily. Babala also added to the short position midway.
This kind of movement is very straightforward:
The market surged at the open, with chasing funds entering, but the price was quickly pushed back by selling pressure, indicating that the selling pressure around 328–329 is quite heavy.
Tonight's non-farm payrolls increased by 162,000, clearly stronger than market expectations.
Such strong employment data is not necessarily good for tech stocks.
Because the market will worry again that the Federal Reserve will maintain high interest rates or even raise rates again. When rate expectations rise, large-cap tech stocks like Apple, which have relatively high valuations, are more likely to be cashed out first.
This short position is not based on a bearish view of Apple's long-term value but is a short-term play on a high-level pullback.
Apple also has an upcoming product launch event, so the news is not bad. But the more the positive expectations are priced in, the more attention should be paid when the stock price surges but fails to hold.
Next, I mainly watch several levels:
325–326 is the first resistance; if the rebound can't hold above this, the short-term structure remains weak.
328–329 is strong resistance; if it breaks through here again, the logic of this short position basically fails.
On the downside, first watch 322; if it breaks, then look at 320.
If 320 also doesn't hold, there is a chance to test around 318.
Although there is some unrealized profit now, AAPL is not a stock to hold stubbornly.
Its fundamentals are strong, and with the product launch approaching, it could quickly pull back due to a single piece of news.
This short is not against Apple Inc. itself but against the unfulfilled expectations at the high level.
If the position is right, hold it; if the structure changes, exit.After the anonymous privacy coin $ZEC has been pumped, it should be $XMR's turn. Previously, after ZEC was pumped to its peak, ZEN and $DASH performed a show, and finally the true privacy coin XMR experienced a major bull run, breaking historical highs and entering the top ten by market cap.
Since XMR was delisted by major exchanges, it has maintained its own independent market trend. XMR's underlying protocol is designed with ring signatures, stealth addresses, and confidential transactions—not as "add-on features," but as intrinsic parts of its core.
When you send a transaction with XMR, it is private by default, requiring no additional third-party tools. Even if the blockchain is fully public, others cannot see exactly how much you received or who you sent it to. Some may say Monero's liquidity is poor and it's not as mainstream as BTC. That's true; it's a shortcoming. But if we truly talk about privacy, mixers are at best a "fig leaf," while Monero addresses the problem "at the source."
So I've always believed: mixers are a temporary compromise, Monero is the real privacy coin.
DASHUSDTDeFi Development Corp. (DFDV) adopts variable-rate perpetual preferred shares, demonstrating strong specificity in capital structure, cost of capital, and risk isolation. Why choose "perpetual preferred shares" instead of regular bonds or additional issuance? Perpetual preferred shares have no fixed principal repayment deadline, so the company does not face the risk of a $11 million principal debt repayment crisis at a specific future date, greatly reducing liquidation risk in a bear market environment in crypto. On the financial statements, preferred shares are usually listed as equity rather than hard debt on the balance sheet, which protects the company's credit rating and refinancing leverage space. Providing underwriters and early institutions with a safety cushion: The IPO issue price is set at $8, but the officially disclosed target trading range is $9.95 to $11.00. This means institutions subscribing to these preferred shares have about 24%–37.5% potential premium space on the market after listing settlement, which acts as a "bait" to quickly realize the $11 million. If the price falls below $9.95: DFDV will proactively raise the single-period dividend (up to 50 bps per time) to attract secondary market buyers with higher yields, forcibly pulling the stock price back above $9.95. If the price exceeds $11.00: The company can lower the dividend or directly trigger the right to forcibly redeem at $11 per share. Locking in upside cost while retaining Beta gains from SOL surges: the $11 forced redemption cap on the upsideBefore the data release, BTC had already risen in advance from 78,500 to 82,282 — the market was betting on a "weak employment, no rate hike" scenario.
After the data release, the scenario was completely reversed: strong employment data of 162,000 means the labor market remains hot, and the Federal Reserve has ample room to maintain a hawkish stance. BTC falling below 80,000 is an inevitable market correction.
The key variable has shifted to next week's CPI: JPMorgan believes the ideal range for non-farm payrolls is 30,000 to 70,000. 162,000 has far exceeded this "Goldilocks" range, and the market focus will quickly turn to the CPI data on Wednesday, September 9 — if CPI also exceeds expectations, a rate hike in September will be almost certain.
Core judgment: The non-farm payroll data has cleared the employment-related obstacles for a September rate hike. BTC's pullback from 82,282 is a reasonable reaction to the expectation reversal. 82,300 has become a short-term ceiling; unless next week's CPI unexpectedly weakens, it will be difficult to break through again in the short term. The current market is in a "expectation adjustment" phase, with a bearish bias, waiting for CPI to provide the final answer $BTC $ETH $ZEC #BTC兑黄金比率升至1月以来高位，强势能否延续？ The recent surge you saw was real—US stocks, US bonds, gold, BTC, and ETH all jumped together.
The direct trigger: the probability of a Fed rate hike at the September 16 meeting dropped sharply from 65% in the morning session to 52%, nearly even odds.
Who broke this barrier? Atlanta Fed President Bostic hinted during a closed-door speech in the afternoon.
He said: "If data over the next two weeks show the labor market cooling faster, I am willing to support pausing rate hikes; but if wage growth rebounds, rate hikes remain on the table."
Compared to his hawkish tone in August—when he clearly said "further tightening may be needed"—this time he was noticeably softer.
The market senses a growing consensus within the Fed for "no rate hikes unless necessary."
But don’t rush to bet. This Thursday’s initial jobless claims, next Wednesday’s JOLTS job openings, and next Friday’s August CPI are the real judges.
Right now, it’s a coin toss.
Conservatives? Wait for the data. Gamblers? Bet now.
The decision isn’t mine, it’s yours. $BTC $ETH #BTC兑黄金比率升至1月以来高位，强势能否延续？ Robinhood co-founder publicly supports stock tokens, MEME short-term surges to market cap back to $120 million On September 4, Robinhood co-founder Vlad Tenev publicly voiced support for stock tokenization. Stimulated by this news, MEME tokens resumed their upward momentum and surged rapidly in a short time, with market cap now at $120 million. On the event side, Robinhood co-founder Vlad Tenev posted on social media, clearly expressing support for tokenized stocks. After the announcement, MEME tokens surged rapidly and resumed their upward momentum, with market caps rebounding to $120 million. Against the backdrop, stock tokenization has been one of the fastest-advancing directions in the RWA sector in the past two years. Robinhood has previously launched US stock tokenization trading services in the European market, and Tenev himself has repeatedly advocated migrating traditional financial assets like stocks on-chain. This joint venture publicly endorsing this time has been interpreted by some funds as another positive signal for stock tokenization narratives. As for the logic behind MEME rises, it comes more from sentiment and capital flows: MEME tokens are small-cap tokens with a market cap of only $120 million, and their prices are highly sensitive to news. Some short-term funds have linked stock tokenization with meme culture concepts and flowed in, resulting in a rapid rally. It should be objectively pointed out that MEME has no direct business connection with stock tokenization itself; this round of rally is a typical news-driven sentiment rally rather than a fundamental shift. This$BTC This time I flipped out on the non-farm payroll data! The genius trader has fallen! 😭
In the afternoon, I collected relevant data on the big non-farm payroll from the internet and AI; the expected non-farm employment number for July was -24,000.
The market generally expected the August non-farm employment number to be 55,000. Before the data was released, the logic was simple: if it was higher than 55,000, it would be bearish for Bitcoin. If lower, then bullish.
Considering the more than seven poor data reports, I didn’t think too much and assumed tonight’s non-farm employment data would probably be worse. After all, there was the World Cup in June and July, which provided many jobs, yet the data was a mess.
So I thought the chance of tonight being bullish for the crypto space was the highest.
Tonight the non-farm employment data was released: employment increased by 162,000, far exceeding expectations.
Bitcoin therefore plummeted.
The probability of a rate hike increased, market tension maxed out, the market fluctuated fiercely, bulls retreated step by step. Open interest dropped sharply. This was likely caused by a sudden drop triggering widespread long liquidations.
I summarized the main reason for this mistake.
I ignored seasonal patterns: July is the official summer vacation for educational institutions and schools, so the education sector generally takes a break, leading to low unemployment rates, which is normal.
In August, schools reopen, naturally driving a large amount of employment, so the 162,000 new jobs is a very reasonable figure.
Currently, the price has already fallen below 79,500, breaking the 81,000 support level I judged in the afternoon.
Multiple short-term moving averages have already been broken, so bottom-fishing carries high risk.
I’ve decided to stop and see what’s going on, adjust my mindset, and then decide whether to enter the market.
The above is just my personal opinion and does not constitute investment advice. Market Brief｜Nonfarm Payrolls Far Exceed Expectations, BTC Faces Data-Driven Sell-Off
Market Overview
US August Nonfarm Payrolls released: expected new jobs 55,000, actual 162,000, significantly higher than expected, unemployment rate 4.1%. After the data release, BTC quickly plunged, dropping 2.31%.
The view has not turned bearish just because of a single bearish candle: the key is to observe whether the market can absorb the data impact.
- Key signal: If it can firmly hold above 81,000 again, the original bullish logic continues, with a target toward 84,000;
- If it continuously fails to hold this level, then a reassessment of the market is needed.
Market Logic
The strong employment data indicates that the US labor force remains robust, which will suppress expectations for a Federal Reserve rate cut. Higher interest rates will persist longer, creating short-term headwinds for risk assets like crypto, prompting funds to sell off and seek safety immediately.
However, a single nonfarm payroll data release is only a short-term disturbance and will not directly rewrite the medium-term trend. The focus is on whether the price can quickly digest the negative impact, meaning after the negative news, watch the strength of the support rather than blindly shorting just because the data is poor.
Trading Insights
1. Prioritize observing market support after macro data releases; do not let the data itself directly dictate your view. The data is just a trigger; the price reaction reveals the truth.
2. Set the key observation level at 81,000 as the dividing line between strength and weakness to verify whether the market is undergoing a short-term pullback or a weakening trend.
3. Heavy data like nonfarm payrolls can cause spikes and slippage; reduce leveraged positions to avoid being stopped out by sudden volatility. Nonfarm payrolls far exceed expectations! Is a September rate hike really coming?
#8月非农16.2万远超预期，加息押注升温
Originally reported as a decrease of 23,000, now revised to an increase of 21,000. Coupled with the 162,000 new jobs in August and the unemployment rate holding at 4.1%, the previous judgment that "employment is barely holding up, so the Fed dares not raise rates" definitely needs to be reconsidered.
For those holding BTC, the painful part is here: good employment is normally good news for the economy, but the market worries that the Fed now has room to continue fighting inflation, and interest rates might be higher than previously thought. After the data release, traders also increased their bets on a September rate hike.
If funds were originally buying crypto expecting a policy easing, now they have to recalculate. The cost of borrowing to hold positions may not come down, so chasing gains will naturally be more hesitant. This is a logic for short-term pressure, not that Bitcoin itself suddenly has a problem.
However, 162,000 jobs do not directly press the Fed's rate hike button. If inflation continues to fall later, resilient employment may not be a bad thing; if prices cannot be controlled, then the case for tightening becomes stronger.
My understanding is that tonight's weakening is the expectation that "employment will force the Fed to back down." As for whether the bull market is over, it really can't be sealed by just one nonfarm report. Just saw people call the rise a bull comeback, then after the data they say it's over—changing beliefs back and forth is more exhausting than watching the market.11 Months of Suppressed SOPR Just Broke — A Signal of Cycle Reversal.
Profit-taking is showing up on every surge, and yet the market is holding. That is a clear break from the last 11 months.The non-farm payrolls are so strong that the September rate hike has become even more uncertain.
In August, non-farm payrolls increased by 162,000, while the expectation was just over 50,000, and the unemployment rate remained steady at 4.1%.
This data is indeed quite impressive.
After the data was released, the bet on a September rate hike rose back to about 60%, the dollar and U.S. Treasury yields went up, but BTC was actually suppressed first.
However, I actually think it’s still a bit early to say "a rate hike in September is certain."
Because employment is just one direction; the real determinant will be the CPI on September 11.
If inflation continues to run hot, then this non-farm report won’t be strong on its own, but employment and inflation together will reinforce expectations for a rate hike.
But if the CPI doesn’t keep up, or if core inflation cools down again, then this impressive non-farm report alone may not be enough to change the final decision for September.
So don’t rush to treat the 60% probability as the final answer.
Non-farm payrolls are the appetizer; the CPI main course hasn’t been served yet.
#8月非农16.2万远超预期，加息押注升温
$BTC $XAU 📊 Rate Hike Expectations Are Rising Again Nonfarm payrolls came in at 162,000, beating economists’ expectations, while the unemployment rate held steady at 4.1%. So the big question is: Will the Fed still have room to ease at the end of the month? For now, I think the odds are looking lower. But I wouldn’t panic just yet. Next week’s CPI report is the real test. Today’s jobs data may move rate expectations, but CPI could ultimately decide the market’s next direction. My view: ➡️ Markets may iniSanDisk's strong catch-up rally, funds jumping back and forth between crypto and US stocks, understanding this round of capital rotation
SanDisk has staged a strong catch-up rally, with the AI storage narrative continuing to ferment. A clear phenomenon can be seen in the market: short-term hot money switches back and forth between the crypto market and US tech stocks; wherever the short-term profit effect is stronger, funds flow there.
Many mistakenly think that large capital in crypto has massively and completely exited to speculate in US stocks. Actually, that's not entirely true; it's the same batch of speculative hot money rotating assets, not a complete relocation.
Breaking down the current capital logic
1. The total existing liquidity has not explosively expanded; the money supply is limited, so assets compete for chips among themselves. When the US stock AI storage sector (led by SanDisk) opens up profit opportunities, some short-term funds will realize profits in the crypto market, withdraw funds, and rush into US stocks; when US stocks rise and profits are taken, funds flow back to crypto to play the rebound game, repeatedly jumping back and forth.
2. The fundamentals of the two markets are not directly linked, but risk appetite is highly correlated. SanDisk's rise comes from the AI data center storage demand boom and is almost unrelated to crypto mining; however, many of the same speculative traders trade both markets simultaneously, transmitting sentiment to each other. Pre-market and after-hours in US stocks and volatility in crypto markets directly affect the next day's US stock opening sentiment; conversely, large US stock swings also disturb the overnight crypto market.
3. Distinguish between two types of funds:
Long-term allocation funds will not massively sell BTC just because of a short-term catch-up rally; the real back-and-forth runners are short-term speculative hot money chasing high returns. This portion causes intense market volatility but rarely changes the major trend.
What this implies for the crypto market
Crypto is currently in a sideways tug-of-war, with incremental off-exchange funds absent. Whenever US tech stocks show very strong profit effects, short-term liquidity in crypto is siphoned off. At this time, BTC tends to have some rebound strength but struggles to produce sustained large bullish candles, and altcoins will further diverge.
Once US stocks rise and profits are taken, funds flow back, making it easier for crypto to get short-term impulse rallies.
⚠️ Key reminder: This back-and-forth switching is a phase phenomenon, not a permanent decoupling.
If macro factors like rising US Treasury yields cause global risk appetite to weaken collectively, then US tech stocks and crypto assets will be sold off together; neither can remain immune.
Practical approach
Don't assume crypto will crash just because US stocks surge; nor be certain crypto will rally just because US stocks pull back.
Don't let cross-market sentiment mislead your trading rhythm; focus on crypto's own market signals: resistance, support, volume, and observe BTC spot ETF fund flows.
During sideways phases, don't bet on which side funds will flow to. Act at key levels, strictly control position size, and set stop losses.
The market always rewards those who follow the money, not those who subjectively predict where the money will go.
What do you think—will funds continue to stay in US stocks, or flow back to crypto? #EarningsObserver｜AI computing power heat has not cooled down yet
Dell raised its full-year revenue and AI server expectations, Broadcom's Q3 revenue approached $29.6 billion, AI semiconductor revenue surged 221% year-over-year; Snowflake also raised its full-year product revenue guidance.
A common signal: AI capital expenditure is still ongoing, and computing power demand has not shown obvious cooling for now.
But the most demanding aspect of the market is also clear now—exceeding earnings expectations is no longer enough, if guidance is slightly below expectations, the stock price may be hit first.
So don't just focus on post-market price changes, what really matters is:
Can AI orders continue to grow? Can the giants maintain their capital expenditure?
The AI story is not over, but the market has already started "verifying with data".
$BTC $OKBOn September 4, 2026, the 24-hour trading volume of the OKX perpetual contract market reached $35.02 billion. BTC briefly broke above $82,000 this morning, driving a collective rebound among mainstream coins—BTC rose 4.54%, ETH rose 4.95%, XRP rose 5.89%, and DOGE rose 5.54%. However, futures market data reveals a different picture: BTC contract trading volume plummeted 61%, while trading volumes of TRUMP, ZEC, DOGE, and other instruments surged several times. Spot market rally and leveraged capital retreat coexist, with the rapid migration of funds from mainstream coins to thematic coins becoming increasingly apparent. #1 ETH — Trading volume $11.31B, accounting for 32.33%, 24-hour change -12.36% ETH topped the list with an overwhelming lead, with contract trading volume 1.5 times that of BTC and nearly one-third of OKX contract total turnover. In terms of price, ETH rose 4.95% in 24 hours to about $2,450, but contract trading volume slightly contracted. Price increases while volume shrinks, indicating weak bullish willingness to chase gains. Current ETH contract open interest is about $8 billion, with a long-short ratio around 1.2, possibly facing short-term profit-taking pressure. #2 BTC (Bitcoin) — Trading volume $7.42B, accounting for 21.21%, 24-hour change -61.14% BTC contract trading volume plunged over 60%, from nearly $19 billion yesterday to $7.4 billion. This contrasts sharply with the strong spot market breaking through $82,000 this morningThe $CORE deposit channel has been rescheduled multiple times, postponed to 11:00 on September 7th, and this time does not have mandatory enforcement effect.
The originally scheduled node on September 3rd is directly invalidated, stemming from the technical issues left by the over-issuance of block rewards. Hard fork rectification, on-chain data repair, and multi-layer interface verification by exchanges—if any link is abnormal, the opening time will continue to be postponed.
The disclosed schedule is only a time contingency plan and will not bear any responsibility for asset losses of holders.
There is speculation in the market: repeatedly locking the deposit channel, is it paving the way for the project team to exit?
Objectively speaking, a delay does not equal a confirmed exit, but continuous postponements themselves are a very high-risk signal.
There are only two objective outcomes for the market.
If rectification is implemented and the channel opens as scheduled, the long-accumulated on-chain tokens will flood into exchanges in bulk, and selling pressure will be released without buffer.
If postponed again, with deposits continuously closed, community trust will keep eroding, and market uncertainty will continue to increase.
Some holders still hope that resuming deposits can reverse the situation.
Reality offers no luck. Regardless of which outcome occurs, the risk objectively persists and will not dissipate on its own.
Everything is subject to the latest official announcement, and the estimated time can be adjusted at any time according to the on-chain operational status.*September 🔥 & August 💥 2026 | Nonfarm Payrolls Exploded, FOMC Pressure Arrives*
Tonight's NFP report completely changed the script
*What happened*
*#AugPayrollsBeat* Nonfarm payrolls stronger than expected
- *Impact 1*: Rate cut expectations cooled down; the market originally bet on a September rate cut, now starting to reprice a "25bp rate hike"
- *Impact 2*: The labor market is not cooling yet, so the Fed has no reason to rush easing
*Key upcoming timeline*
1. *Inflation data first*: CPI/PPI come earlier. Strong employment + inflation rebound = Fed's biggest headache
2. *September FOMC*: Now a `super event` for risk assets and crypto
`Strong employment + high inflation = hawkish` → $BTC $ETH under short-term pressure
`Strong employment + falling inflation = Goldilocks` → market rallies again
*Logic for crypto*
`#BTCGoldRatioHigh`
Now it's a tug-of-war between "hard assets vs interest rates"
- *Hawkish FOMC*: Strong dollar, funds flow back to US Treasuries, high-beta assets like $BTC get hit first
- *Dovish FOMC*: Liquidity expectations return, $BTC continues to track digital gold
*In one sentence*
August nonfarm payrolls handed the Fed a "knife" that says "no need to cut rates"
September will depend on inflation data to decide whether to use that knife
Now is not the time to chase gains, Tonight, the US August nonfarm payroll data was released: 162,000 new jobs were added, far exceeding the previous market expectation of about 55,000–58,000; The unemployment rate remained steady at 4.1%. At the same time, the July employment data was revised up from -23,000 to +21,000. This data was clearly stronger than expected, indicating that the US labor market remains resilient and renewed concerns about Fed policy tightening in September. Back to $BTC: Short-term volatility at 15-minute, 1-hour, and 4-hour levels has significantly increased. After the non-farm payroll release, Bitcoin briefly fell below $80,000, prompting the market to quickly absorb the interest rate expectations brought by strong employment. So my approach is simple: don't chase before data comes out, and look at key positions after it comes out. Strong data≠ BTC will definitely continue to fall. What really matters is whether prices can regain key support, and how US Treasury yields and the dollar move forward. Upcoming key focus: 📌 BTC fighting 📌 near $80,000, Fed rate cut and rate hike expectations in 📌 September, next week's CPI data 📌, relative strength between BTC and gold, nonfarm payrolls are just the first round of shocks; what will truly determine the future direction may still be inflation data #BTC #Bitcoin #NonfarmPayrolls #WallerEyesAugCPI #BTCGoThe node originally scheduled for September 3 has been canceled. This is not routine maintenance but involves technical fixes following abnormal block rewards, including hard fork rectification, on-chain data fixes, and multi-layer exchange verification. Any issues at any stage may continue to delay the opening. ⚠️ For token holders, risks remain: if delayed again, tokens will remain locked and liquidity will be restricted; If deposits resume as planned, long-accumulated on-chain tokens may concentrate on exchanges, significantly increasing short-term selling pressure. Therefore, resuming deposits does not mean risk is eliminated. What matters now is paying attention to the progress of on-chain repairs, the latest announcements from exchanges, and actual opening status, rather than betting on the timing in advance. Everything is subject to the latest official announcements from $CORE; the expected timing may still be adjusted according to changes in on-chain status. #CORE #Crypto #加密货币 #行情$1B in Stablecoin Inflows to Exchanges as Bitcoin pushes higher
We were able to observe a slight recovery in liquidity during August, reflected in stablecoin flows moving toward exchanges.Over the past week, UNI doubled from near its August low, reaching $6.30 on September 2, an eight-month high, with a 24-hour turnover surpassing $1 billion. On the surface, it's driven by sentiment, but the underlying logic has changed: Real trading volume from Robinhood Chain has become the core engine, with August trading volume reaching $17.99 billion. Of the $1.95 billion in a single day on September 1, about 1.75 billion was processed through the Uniswap pool, directly converted into fee revenue. Protocol-level changes are equally crucial. After Fee Switch activated in V4, daily revenue jumped from $118,000 to $318,000. Combined with the previous one-time burn of 100 million tokens, UNI is shifting from a governance tool to an asset with cash flow and deflationary attributes. Standard Chartered Bank's estimated annualized burn rate is about 4% of circulating supply, providing support for the long-term narrative. However, short-term technicals are clearly overheated: the daily RSI is in the 78 to 81 range, prices are far from all moving averages, whale selling pressure has reached 71%, funding rates have turned negative, and the long-short ratio has dropped to 0.56. Resistance above is at $6.20 to $6.37, and support below is at $5.84 to $5.78. Fundamental turning points and high-level divergences coexist; between chasing highs and missing out, patience for pullback rhythms may be more tested. Risk warning: Market volatility is sharp, overbought pullback risk and macro event uncertaintiesDuring the day, people were still discussing how far $BTC could go after reaching 80,000; by evening, they had to debate whether it could be recovered. Sigh, the most exhausting part of this kind of market is that just after gaining some confidence, you immediately put that confidence back on the test. But tonight, you can't just say "it's all down" and move on. At the time of writing, BTC was about 79,482, still about 0.76% higher than 24 hours ago; But based on the 24-hour high of 82,285, it has already pulled back about 3.41%. Look at the gainers list; it might still be in the green, but the positions you chase at night may not be so good. Two people watching the same coin have completely different feelings about the market; the problem lies in where to buy. This pullback sent a rather uncomfortable signal to trading volume. OKX's BTC spot traded from 81,222.1 to 79,453.3 in the hour from 20:00 to 21:00, down about 2.18%, with about 1,616 BTC traded. In the previous hour, there were only about 141 BTC, but trading volume suddenly expanded to about 11.5 times. This is just data from a single exchange; you can't directly call it "institutions collectively fleeing," nor can you calculate how many liquidations there are across the market. But this decline was indeed accompanied by a clear increase in volume, so it's hard to think of it as a small pin with few people trading. Then, from 21:00 to 22:00, it reached 78,990, closing at 79,380.1, but still hadn't recovered 80,000. The problem to solve tomorrow is this: after rebounding back to 80,000, can the pullback stay on the top? Just a brief touch and then a U-turn—that meansNon-farm payrolls exploded. August added 162,000 jobs, market expectation was less than 60,000, the actual value is 2.9 times the expectation. Unemployment rate at 4.1%, wage growth at 3.8% also exceeded expectations. The job market has not cooled down at all; instead, it is accelerating.
After the data release, the probability of a rate hike in September jumped from 50% directly to over 60%. Waller said just the day before yesterday that if the data is strong, a rate hike would be considered. The non-farm data is very clear: employment has not cooled, inflation is very unlikely to come down, and Waller's voting balance is already tipping towards a rate hike. The 10-year US Treasury yield is at 4.818%, hitting the highest level since November 2023. With employment data settled and far exceeding expectations, the Federal Reserve has little reason to remain on hold.
For BTC, the better-than-expected non-farm payrolls directly dispel rate cut fantasies, putting short-term pressure under a high interest rate environment. Above 85,000 is the short squeeze zone, but with rising rate hike expectations, breaking through is much more difficult. Bank of America called the non-farm data an appetizer; CPI is the main course. If CPI also exceeds expectations, a September rate hike is nailed down, and BTC faces further downward pressure. If CPI unexpectedly weakens, rate hike expectations will be extinguished, and the market will reprice. Employment data is already settled, and the balance is tipping towards a rate hike. The direction hasn't changed, only the pace. As Brother Ci said, you taste it, you savor it.
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$BTC $ETH $XAUT Nonfarm Payrolls 162,000: Overnight, the "no rate hike" consensus was shattered
August Nonfarm +162,000 (expected +55,000, nearly triple), unemployment rate steady at 4.1%, hourly wages +3.1% beating expectations, June-July combined revised up by +55,000. Bloomberg only predicted +12,000 — the most pessimistic met the strongest data, the "no rate hike in September" consensus collapsed.
10-minute chain reaction: US Treasury 2Y +7.18bp to 4.406%, 10Y +3bp to 4.792%; USD rises, USD/JPY +55 points; gold 4,473→4,376 (-1.75%) breaks below 4,400; S&P -0.17%, Dow -0.28%, Nasdaq 100 +0.29%; BTC 81,340→79,661 breaks 80,000, 1-hour liquidation 201 million (longs 186 million), 24h 750 million.
Pricing: September rate hike probability rose from 50/50 to over 60%. Nonfarm only pushed the "no rate hike" back to uncertainty, the 9/11 CPI is the final hammer — if CPI is hot, rate hike is nearly certain; if CPI cools, tonight’s move is an overreaction.
Consensus is position: when "no rate hike" becomes the unanimous market expectation, it is no longer safe.
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