QCP Capital, a Singapore-based crypto investment agency, posted that overnight, the downward revision in U.S. non-farm payrolls highlighted the weakness in the labor market, triggering a wave of selling by raising concerns that the Federal Reserve might delay a rate cut. However, July FOMC (FOMC) meeting notes showed that some policymakers were willing to cut interest rates, unleashing a more dovish stance aimed at balancing inflation and employment targets, thus easing these concerns. This dovish tone boosted risk assets and pushed bitcoin prices above $61,800, with strong buying on Coinbase continuing until 4am Singapore time. Aggressive buying on Coinbase (indicating domestic demand in the United States) is a good sign of a short-term trend. Now, the focus of the market turns to Federal Reserve Chairperson Jerome Powell's speech in Jackson Hole tomorrow, hoping to get more signals on interest rate cuts. With the market generally betting on interest rate cuts, unexpected economic data could have a major impact on the market.