January 8th, focus entirely on the data! The Federal Reserve Chair Powell's speech at 5:10 AM could be the key turning point in this round of market movement, as the market reacts extremely sensitively to her remarks.

Two major data releases tonight need close monitoring — at 20:30, the US December Challenger Job Cuts report will be released first, with the previous value already hitting a 22-year high for the same period. The tech sector has cut over 400,000 jobs this year, and it’s uncertain whether the market will continue to loosen at the beginning of the year. At 21:30, the initial jobless claims data will follow, with the previous figure at 199,000 but below expectations, while the continuing claims have surged to 1.92 million. Although the labor market appears stable, there are underlying currents.

The performance of these two data sets will directly influence market expectations for rate cuts — weaker data signals a stronger likelihood of rate cuts, giving risk assets (including $BTC, $ETH, $BNB and other cryptocurrencies) room to rebound; better data, on the other hand, could mean a slowdown in the rate cut cycle, putting risk assets under pressure. Institutions are now waiting for this window; market volatility is inevitable. Keep a close eye on the charts and don’t doze off.