[Nonfarm Payroll Data Intensifies Policy Divergence, BTC Drops Short-Term to Around $85,000]
On November 21, the U.S. Department of Labor reported an increase of 119,000 nonfarm payroll jobs in September, exceeding the expected 52,000. However, the unemployment rate rose to 4.4%, marking a four-year high. This delayed employment report has become a critical data point ahead of the December FOMC meeting, as its lagging and contradictory nature deepens policy divergence. Market expectations for a rate cut in December have dropped to less than 40%.
On the macroeconomic level, while nonfarm payroll data exceeded expectations, the rise in the unemployment rate indicates conflicting labor market signals, complicating policy interpretation and increasing demand for safe-haven assets in a high-interest-rate environment.
In the crypto market, BTC faced resistance at the $93,000 level and dropped short-term to around $85,000. If it fails to hold above $86,800, it may test $80,200. Bitunix analysts recommend monitoring labor market revision data, Federal Reserve rate cut divergences, and BTC's technical structure performance, as these factors will influence market trends in the coming week.