The latest employment data shows that the U.S. job market continues to remain strong. Last week, the number of initial jobless claims was 217,000, lower than the expected 226,000; the number of continuing jobless claims was 1.955 million, slightly below the expected 1.96 million. These figures reflect the resilience of the U.S. job market, with strong demand for hiring from companies and a robust overall economy.

However, this may not be good news for the cryptocurrency market. Strong economic data may increase the Federal Reserve's confidence in maintaining high interest rates and could even delay the timeline for rate cuts. Historical experience shows that similar employment data led to a 7% drop in ETH in a single day in September 2023.

Currently, ETH's trend may face pressure. Strong economic data may prompt the Federal Reserve to maintain a hawkish stance, sustaining a high interest rate environment. In this case, the attractiveness of dollar assets increases, which may lead to some funds flowing out of the cryptocurrency market.

It is worth noting that although the overall employment data is positive, the number of people continuing to apply for unemployment benefits has slightly increased, rising from the revised figure of 1.951 million to 1.955 million. This may suggest that some unemployed individuals are having difficulty re-entering the workforce, reflecting potential structural issues in the job market.

For cryptocurrency investors, this is a period that requires close attention. The market may react sensitively to strong employment data, and crypto assets like ETH may face short-term fluctuations. In this case, investors should remain cautious and closely monitor market dynamics and potential support levels to make informed investment decisions.

In the current market environment, entering the market rashly may pose risks. Investors should patiently wait, carefully assess market trends, and act only when there are clear buy signals. At the same time, continuously paying attention to economic data, Federal Reserve policy trends, and the overall trend of the cryptocurrency market is crucial for seizing investment opportunities.