I woke up last night and checked the market—wow, it really bounced back: $ETH rose 7.1% overnight, straight back to $2,427, while $BTC climbed 4.5%, back above $80,000. That oppressive feeling from the relentless declines over the past few days has finally let up a little.
But don’t celebrate too soon. The hottest topic today is October’s nonfarm payrolls: whether rate cuts are still on the table depends entirely on how this data comes in. If the numbers are soft, rate-cut expectations could heat up and the rebound may continue. If they’re strong, the market will have to recalculate, and the momentum we’ve just gained could be knocked back down.
So there are just two things to watch today: first, whether $ETH can hold above $2,400; second, whether volatility suddenly picks up around the nonfarm payrolls release. Short-term swings could be significant, so think about your position before chasing the rally—don’t let one bullish candle lead you astray.
#USOctoberNonfarmPayrollsAreOut: AreRateCutsStillOnTheTable?
But don’t celebrate too soon. The hottest topic today is October’s nonfarm payrolls: whether rate cuts are still on the table depends entirely on how this data comes in. If the numbers are soft, rate-cut expectations could heat up and the rebound may continue. If they’re strong, the market will have to recalculate, and the momentum we’ve just gained could be knocked back down.
So there are just two things to watch today: first, whether $ETH can hold above $2,400; second, whether volatility suddenly picks up around the nonfarm payrolls release. Short-term swings could be significant, so think about your position before chasing the rally—don’t let one bullish candle lead you astray.
#USOctoberNonfarmPayrollsAreOut: AreRateCutsStillOnTheTable?