律动BlockBeats
律动BlockBeats|11月 21, 2025 09:14
BitUnix analyst: Non farm data strength interweaves, interest rate path hits deadlock again, BTC oscillates after falling According to BlockBeats, on November 21st, the US Department of Labor announced 119000 new non farm payroll jobs for September, far higher than the market estimate of 52000, but the unemployment rate unexpectedly rose to 4.4%, reaching a four-year high. This delayed employment report, released after the government shutdown, became the last key piece of information before the December FOMC (Federal Open Market Committee). The data itself is lagging and contradictory, further deepening policy divergence and making it difficult for the market to formulate a clear interest rate path. The latest federal funds futures show that the probability of a December rate cut has fallen to less than 40%, reflecting a rapid cooling of market expectations for easing. On a macro level, the non farm payroll is stronger than expected and should have been hawkish, but the sharp rise in unemployment rate clearly indicates a weak internal structure of the labor market, forming a "fragmented" signal and causing greater divergence among policy makers in interpreting economic strength and weakness. The lag of this data also makes it more difficult for the market to confirm the real economic momentum, and the demand for safe haven in high interest rate environments is once again heating up, and this uncertainty is quickly reflected in risk assets. In terms of the cryptocurrency market, BTC was significantly suppressed by the pressure of $93000, and further dragged down by the expected cooling of interest rates, causing the price to drop to around $85000 in the short term. Structurally, if the stability of $86800 cannot be maintained, further testing of $80200 may be possible. BitUnix analysts state that in the vacuum zone where interest rates and employment signals are unclear, the market is prone to amplifying volatility and tends to favor sentiment driven technical structure trading in the short term. Suggestions to focus on three points: 1) whether the subsequent correction of labor market data will reverse the market's interpretation of economic weakness; 2) Whether the divergence within the Federal Reserve over interest rate cuts continues to widen; 3) Can the BTC structure hold its low point and challenge the upper edge of the range again with liquidity replenishment. These factors will dominate the price rhythm and risk preference direction for the next week.
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