When the non farm payroll data in the United States jumps, the global virtual currency market enters a "heartbeat mode" Within 2 hours after the data is released, the cryptocurrency market often experiences violent fluctuations of 3% -5% or more, and when the long short game is intense, it will trigger a "plug in market" situation, resulting in a double kill of long and short. However, the impact of non farm payroll data is not a long-term solution. With 60% of large banks in the United States accessing Bitcoin services, spot ETFs are absorbing funds far beyond their annual mining output. The institutionalization of the virtual currency market continues to increase, and price trends are gradually returning to on chain activity Structural factors such as regulatory policies. The fluctuations brought by non-agricultural activities are more like short-term "interludes", which will be absorbed by the market after concentrated release and difficult to change the long-term trend. Non farm strong, interest rate hike expectations will rise, short-term easy to fall Non farm sectors are weak, and expectations of interest rate cuts have increased, with a probability of an increase. The release of non-agricultural data will inevitably bring about a certain amount of fluctuations From another perspective, whether non farm payroll will affect the cryptocurrency market mainly depends on the Federal Reserve's interest rate expectations and the trend of the US dollar. Tonight, I guess it will be a bullish trend (if wrong, don't take the blame)