Interest rate cut expectations collapsed overnight! Tonight's non-farm payroll is the real "Judgment Day."

The market's recently ignited fantasy of easing has been completely shattered by the Federal Reserve's "one-two punch"! In just a few days, the probability of a rate cut in December plummeted from 70% to below 35%, almost halving. Governor Waller's statement of "no rush to act" hit like a heavy blow, as several officials took turns to firmly extinguish the market's flickering hopes.

Tonight at 21:30, the delayed September non-farm report due to the government shutdown will become a "life-and-death battle" that determines fate! The ADP data has already warned of the resilience in the labor market. If the non-farm data surprises negatively, a rate cut in December will not only be out of the question but may even reignite discussions on rate hikes. Conversely, if the data is weak, doves will immediately make a comeback.

Forget about those illusory long-term forecasts — we are now in the era of "data is king." The division within the Federal Reserve has reached a boiling point, and the drastic swings in policy direction have only just begun. Tonight's non-farm payroll report is the fuse that will ignite this storm. #BTC