BlockBeats News, October 3rd: Due to the government shutdown, there is uncertainty surrounding the release of the U.S. September non-farm payroll data. Senator Warren emphasized that the data has already been processed and demanded the government to publish it on schedule; otherwise, it will affect the Fed’s judgment basis for the interest rate decision at the end of October. Currently, the market can only rely on alternative indicators such as ADP, and the ADP report shows an unexpected decline in private sector employment, further deepening concerns about economic slowdown.
From a macro perspective, if the non-farm data is delayed or weaker than expected, it will increase market bets on a rate cut, which is short-term bullish for risk assets. However, the lack of information may also amplify volatility and uncertainty.
Bitunix Analyst View: Political maneuvering causing data delays has led the market to rely on alternative information, intensifying volatility. Observing the crypto market, if BTC breaks above the 121k area, it would trigger a liquidation intensity of $650 million; while multiple support levels are formed around 112k and 108k below. The recent rapid surge has touched the liquidity-rich area above, and short-term consolidation may be imminent. Investors should exercise caution and focus on the potential resistance and support ranges revealed by the liquidation zone.
