#2026年比特币价格展望 Non-farm payrolls data is just around the corner, but Bitcoin and Ethereum are caught in a strange tug-of-war.

The current situation is a bit delicate — both major cryptocurrencies are hovering at critical levels. Bitcoin is barely holding above 90,000, while Ethereum is repeatedly testing the 3100 level. The morning trading was extremely dull, with sparse trading volume. Suddenly, there was a sharp decline at midday, breaking the silence, and the rebound by the end of the day lacked momentum. Overall, the market remains weak.

Where is the problem? Internal conflicts within the Federal Reserve have intensified, with hawks and doves each sticking to their views. Plus, the soft "small non-farm" payrolls data was partially offset by the resilience of the service sector PMI, leaving the market confused. Worse still, large capital holdings are in a wait-and-see mode; as soon as a new crypto regulation framework was introduced in Hong Kong, it directly raised the entry barriers for institutions. The incremental funds that were supporting the market began to quietly withdraw, and selling pressure is becoming increasingly evident.

The key moment is here — tonight at 21:30, the initial jobless claims data will be released first, followed by the non-farm employment report this Friday. These two pieces of data are likely to reshape expectations for Federal Reserve policy, and a market turnaround could be imminent. A major trend is just around the corner.