Recently, the global financial markets have experienced Fluctuation due to the revision of the US non-farm payroll data. Many investors are confused: why did the seemingly Favourable Information revision not lead to a pump in the market, but instead triggered a slight pullback?

This phenomenon reflects a shift in the market's perception of the U.S. economic situation. Prior to July, the general consensus was that the U.S. economy was strong. However, the sudden "weakness" in the non-farm data made people realize that the U.S. economy is not as robust as previously thought. At the same time, some investors began to question the reliability of U.S. data, which somewhat undermined the trust in the dollar.

When the trust in sovereign currency is challenged, decentralized assets such as gold, silver, and copper usually benefit. Bitcoin, as a decentralized currency, should theoretically follow this trend. However, since the launch of the ETF, a significant amount of funds have come from the US stock market, which has somewhat weakened its decentralized characteristics. During the banking crisis in 2023, Bitcoin did attract a substantial amount of safe-haven capital, but its positioning remains in a gray area.

As the global central bank, the Federal Reserve's policy direction is heavily influenced by non-farm data. After the data revision, the market seems to reassess the relative position of the U.S. economy compared to other countries.

Regarding the outlook for interest rate cuts, the market reaction may be mixed. If rates are cut, funds may flow out of the U.S. and diversify globally, whether Bitcoin can benefit still needs to be observed through ETF fund flows. If interest rates remain unchanged, some funds may continue to stay in the U.S., with some possibly flowing into Bitcoin ETFs.

In summary, whether it is the revision of non-farm data or potential interest rate cuts, investment decisions should be based on actual data. It is recommended to closely monitor market reactions in the week following the rate cut and formulate strategies in line with the movements of "smart money." In this complex and ever-changing financial environment, it is crucial to remain vigilant and flexible.