#三月非农数据来袭 Better-than-expected non-farm payrolls usually benefit the US dollar, push up U.S. Treasury yields, and reduce the likelihood of Federal Reserve rate cuts, thereby exerting short-term pressure on risk assets (including cryptocurrencies). Bitcoin, Ethereum, and other cryptocurrencies may experience increased volatility or pullbacks, especially if the market had already priced in more rate cuts. However, if subsequent data continues to show economic resilience rather than overheating, the long-term outlook may stabilize market expectations and avoid panic over a hard landing. The crypto market is sensitive to macroeconomic factors, and this rebound is likely to temporarily cool the "rate cut trade," with a cautious stance in the short term.