Saturday was spent so quietly. I was initially a bit worried that Oracle Bone inscriptions might cause pessimism to rise over the weekend, but in reality, even if they did, it’s not serious. Bitcoin remained in a very small range of fluctuation. But next week is uncertain. There are three important data releases: first is Tuesday’s Non-Farm Payrolls. Everyone knows how important labor data is. Powell himself mentioned that the main reason for considering a rate cut in December is the poor labor data.

So, Non-Farm Payrolls remain the most important data right now, mainly focusing on the unemployment rate and employment numbers, as well as wage changes. The market currently expects the unemployment rate to be 4.4%. The higher this number, the worse the economic outlook, but it also makes interest rate cuts more likely. The larger the employment figures, the stronger the economic resilience, and the less likely a rate cut. Less wage growth indicates economic underperformance but favors rate cuts. Overall, Non-Farm Payrolls data is a mixed blessing.

Then there’s Thursday’s CPI data. The lower, the better. And on Friday, Japan’s interest rate adjustment. This time, a 25 basis point hike probably won’t happen anymore. Although it’s bearish, the market has already fully priced it in, so the impact after the announcement shouldn’t be very strong. After next week, it’s Christmas, and the holiday season begins, lasting until after New Year’s.

Looking at Bitcoin data, the weekend’s turnover rate dropped significantly, finally reaching a normal level. But starting next week on weekdays, it may rise again. A higher turnover rate indicates that overall investor sentiment is still quite tense, especially among short-term investors. With three major data releases next week, volatility is likely to increase.

Nothing else much, just enjoy a good rest over the weekend. The chip structure remains very stable, and I haven’t seen investor panic. It feels like we are in the process of stabilizing and building a bottom again, maybe just needing some patience.