Sometimes good news is bad news, and bad news is good news—this saying has been around for a long time when it comes to non-farm payroll data. Today is a classic example of turning bad news into good news. The U.S. September non-farm payroll data was terrible—not only did the unemployment rate rise from 4.1% to 4.2%, but the number of employed people also plummeted sharply, far exceeding expectations. Yet the market is happy about it, as such poor data reduces the likelihood of the Fed continuing to raise interest rates. On Wednesday, the core PCE data lowered the probability of an October rate hike to 27%, and the non-farm payroll data further reduced it to 22%. Even the probability of a December rate hike has slightly decreased. However, for now, the market doesn’t seem too worried about the U.S. economy entering a recession, as the unemployment rate is still relatively low, and the decline in the labor force is largely related to Trump’s policies on illegal immigration. But the end of September brings a bigger issue: inflation expectations for September might rise significantly. I looked at some data today, and inflation is expected to increase by 0.5%. If this data is released while the U.S. still hasn’t addressed the issue of high oil prices, the market might really start to struggle. Bitcoin’s performance today remains relatively stable. The dual-coin strategy still feels pretty solid, but I accidentally extended a position that was supposed to close on Monday to Wednesday. Even though it’s just two extra days, the uncertainty has increased quite a bit. I think $82,000 bitcoin:native should still be fine by Monday, but adding two more days makes it harder to predict. Luckily, there’s no major data being released next Tuesday. Shoutout to @Gate, trade more markets!