In July, non-farm employment increased by only 175,000, far below the expected 200,000, delivering a "silent blow" to the U.S. job market. U.S. Treasury rates fluctuated wildly, while the encryption market was the first to present a "blood letter": over $700 million in liquidations within 24 hours, with tens of thousands of accounts jumping in the "Chain Community."

[Market Commentary]
This wave of "non-farm soft + Federal Reserve wait-and-see" combo was originally a bullish emotional soup, but the Chain Community ended up boiling out a "reverse chicken." The main reason is that everyone overestimated the risk aversion logic and underestimated the panic plunge of those "high-leverage maniacs" in the market.
BTC瞬间跌破10.5万美元，ETH失守6千，合约区直接上演一场“连环爆炸”。Chain Community上清算量飙升，大户也不免被“挤奶”。
[Ridicule and sublimation]
To be honest, the non-farm payroll is like a feather gently landing, but it has created a huge hole in the Chain Community. The leverage in the crypto world is like moldy Erguotou – it smells stimulating, feels intoxicating when drunk, but leaves you searching for your teeth afterwards.
[Conclusion]
In the current situation, the contract party must "hold back". Don't fantasize that data falling short of expectations will definitely benefit the market. The weakness in non-farm payrolls is just a prelude; the real drama is in the three-way battle between "inflation + interest rate hikes + US Treasury yields". If you can't bear the positions, don't act as a "martyr" for the Chain Community!
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