#美国ADP就业数据表现超出市场预期 With the U.S. government reopening imminent, what does this mean for the crypto market? Let me break it down from three dimensions:

First, let's talk about the positive side—

**Liquidity returning is the most direct**. During the shutdown, the Treasury account balance skyrocketed, which locked up the market's money, preventing institutions from moving and retail investors from panicking. After the last shutdown ended, the crypto market rebounded by 10-15%, and this time it is highly likely that frozen funds will also be released, driving price recovery.

**Policy Promotion Meeting Restarted**. The SEC's ETF approval is almost paralyzed, and many altcoin proposals are hardly being reviewed, with funds not coming in. After resuming operations, the approval process will get moving, and institutions will continue to scoop up. Additionally, data such as non-farm payroll and CPI will be released one after another, giving us a basis to judge the trend.

**The emotional aspect will also improve**. The standstill has kept the market constrained, with too much uncertainty. Now Trump has proposed a tariff dividend plan of at least $2,000 for everyone, which may attract retail funds to enter the market. Additionally, the probability of a rate cut in December has soared to 73%, and overall expectations are improving.

But don't celebrate too early —

Everyone knows the good news, and institutions may have already laid out their plans in advance. At this time, we must be wary of the "sell-off upon news confirmation" strategy. I personally prefer to test the waters with small positions, controlling risk through rolling operations, and only increasing my stake once the market trend is confirmed. After all, making and losing money in the market is the norm, and risk control always comes first.