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#Nonfarm payrolls unexpectedly turn negative, CPI becomes the key to rate hikes As the weekend arrives, BTC and ETH start to trade sideways again. $BTC $ETH BTC fluctuates around 65000 repeatedly, ETH surged to 1944 and then returned to the 1910–1920 range. With US stock markets and spot ETFs closed over the weekend, institutional incremental funds are temporarily absent; the sentiment from Friday's nonfarm payrolls has already been traded through once, and the market is now waiting for next week's CPI, so both bulls and bears are reluctant to push aggressively in the middle of the range. This nonfarm payrolls report indeed impacted the upward momentum. US July nonfarm employment unexpectedly decreased by 23,000, while the market originally expected an increase of 80,000; at the same time, data for the previous two months was revised down by a total of 103,000. With employment clearly cooling, the market quickly lowered expectations for the Fed to continue raising rates in September, causing the dollar and US Treasury yields to fall, and risk assets to rebound overall. BTC therefore surged to around 65300, and ETH also climbed to 1944, helped by market sentiment and short covering. However, the weak nonfarm payrolls is not purely a one-sided positive. Key points to watch next: ✔ BTC holds above 65300, ETH breaks through 1945, continue to target 1960–1980 ✔ BTC falls below 64000, ETH likely retests 1900–1890 ✔ ETH loses 1890 support, look further down to 1870–1880 Currently, it still belongs to a range recovery supported by funds, and a new round of rally cannot yet be confirmed. Nonfarm payrolls gave the market a boost, but resistance was not broken, so the rally returned to the parking lot. Now 1910–1920 is right in the middle of the range, with resistance above for longs and support below for shorts, making the risk-reward ratio unfavorable. Weekends are the easiest time to get restless during sideways trading, but what really should be done now is to wait for the right position, not blindly enter the market just for the sake of participation.