Non-farm payrolls exceed expectations! Trump strongly calls for interest rate cuts, the Federal Reserve is in a dilemma, and the cryptocurrency sector is facing a critical turning point.
On February 11, Eastern Time, the U.S. January non-farm payroll data shocked global markets! The number of new jobs was 130,000, far exceeding the expected 55,000; the unemployment rate fell to 4.3%, a new low since August 2025. Trump immediately praised the data while once again attacking the Federal Reserve, demanding significant interest rate cuts, even calling for rates to drop to 1%, leading to a complete escalation in macroeconomic games.
This strong data directly disrupted market expectations for easing, with traders significantly reducing bets on interest rate cuts, delaying the Federal Reserve's next rate cut from June to July, and significantly cooling short-term liquidity expectations. Even with impressive employment data, Trump insists that the U.S. should bear the world's lowest borrowing costs, and under a 2% inflation target, his goal is essentially negative real interest rates, directly pointing to the core pricing logic of the dollar, U.S. Treasuries, and crypto assets.
After three consecutive rate cuts last year, the Federal Reserve paused further cuts, now facing continuous pressure from the White House while also welcoming a power transition: Trump has nominated Kevin Warsh to succeed Powell. The seemingly hawkish Warsh is expected by several institutions to exceed easing expectations, and the future combination policy of "rate cuts + balance sheet reduction" makes the Federal Reserve's policy direction shrouded in uncertainty.
For the cryptocurrency sector, the delay in short-term interest rate cut expectations may suppress risk asset sentiment; however, the continued pressure from the White House and policy shifts post-transition still lay the groundwork for liquidity easing. With a sudden shift in macroeconomic winds, the crypto market is at a critical decision point.
In this round of non-farm payrolls and interest rate cut games, do you think it will push Bitcoin to break upwards or lead to a short-term correction?
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