Recently, the remarks of Fed Chairman Powell have attracted widespread follow in the market. His statements hinted that the Fed may adjust its policy stance based on the performance of employment data. Although Powell did not explicitly mention interest rate cuts, the market generally interprets his comments as Favourable Information.

In the coming days, the ADP employment report and non-farm payroll data to be released on September 4th and 5th will become the market focus. The performance of these data will directly impact the decision on whether to cut interest rates in September. If the employment data performs well, the likelihood of a rate cut in September will increase significantly; conversely, if employment unexpectedly increases, the certainty of a rate cut will decrease.

For the cryptocurrency market, if the economic data meets expectations, Bitcoin is likely to fluctuate between $118,000 and $122,000. As for whether it can reach a new high, further observation of market trends is needed.

It is worth noting that the market often experiences significant fluctuations followed by corresponding pullbacks. However, it is expected that the weekend market will not show extreme movements and may maintain a consolidation trend.

In any case, investors should remain vigilant, closely follow the upcoming economic data and market changes, and also pay attention to taking moderate breaks to cope with potential market fluctuations.